If you want to kick off the new year by investing in a great dividend stock, then you’ve come to the right place. Let’s take a quick look at four with high and safe yields of 3-7% that you could buy right now.
Hydro One Ltd. (TSX: H)
Hydro One is Ontario’s largest electric transmission and distribution company, serving more than 1.3 million customers across the province.
It currently pays a quarterly dividend of $0.22 per share, representing $0.88 per share annually, giving it a 3.9% yield. Foolish investors must also note that the utility company’s 4.8% dividend hike in May 2017 led to fiscal 2017 marking the first year in which it had raised its annual dividend payment since its IPO in late 2015, and it also put it on track for fiscal 2018 to mark the second consecutive year with an increase.
Crombie Real Estate Investment Trust (TSX: CRR.UN)
Crombie REIT is one of the largest owners and managers of retail real estate in Canada. Its portfolio currently consists of 286 income-producing properties, including grocery- and drug store-anchored shopping centres, freestanding stores, and mixed-use developments, which are located across the country and total about 19.4 million square feet.
Crombie currently pays a monthly distribution of $0.07417 per unit, representing $0.89 per unit annually, which gives it a 6.5% yield. It’s important to note that the REIT has paid monthly distributions uninterrupted and without reduction since April 2006, which includes one increase of 4.8% in May 2008 to its current monthly rate, and I think its very strong cash flows will allow it to continue to maintain its current rate for the foreseeable future.
A and W Revenue Royalties Income Fund (TSX: AW.UN)
A and W Revenue Royalties Income Fund indirectly owns certain trademarks used in the A&W quick-service restaurant business in Canada. The Fund receives royalty payments in the amount of 3% of sales at the restaurants that utilize these trademarks, and this royalty pool is set to grow by 35 net new restaurants to a total of 896 restaurants on January 5.
The Fund currently pays a monthly distribution of $0.136 per unit, representing $1.632 per unit annually, which gives it a yield of about 4.9%. Foolish investors must note that fiscal 2017 marked the third straight year in which it has raised its annual dividend payment, and its 2.3% hike in October has it positioned for fiscal 2018 to mark the fourth straight year with an increase.
Genworth MI Canada Inc. (TSX:MIC)
Genworth MI Canada is the parent company of Genworth Financial Mortgage Insurance Company Canada, which is the country’s largest private residential mortgage insurer. As of September 30, 2017, it has about $6.8 billion in assets.
Genworth currently pays a quarterly dividend of $0.47 per share, representing $1.88 per share annually, giving it a 4.3% yield. The mortgage insurer has raised its annual dividend payment for eight straight years, and its 6.8% hike in November has it on pace for fiscal 2018 to mark the ninth straight year with an increase.
