The Motley Fool

Attention Income Investors and Retirees: These 5 Stocks Pay Yields Above 5%

Dividends are great – especially if you’re getting paid 5% to sit tight while your company grows.

These five companies all pay yields in excess of 5% and have solid business models that should see the value of your investment grow over time.

BCE Inc. (TSX:BCE)(NYSE:BCE) is coming off a strong year, so don’t be too surprised if the comparable numbers year-over-year don’t look so great in 2018.

But looking further ahead to what the future may hold, wireless networks are only becoming more robust and Canadians are increasingly relying only their mobile devices for time-sensitive data and video content.

That bodes well for BCE, with the shares yielding investors a healthy 5.67% to boot.

Brookfield Property Partners L.P. (TSX:BPY.UN)(NYSE:BPY) is a subset of the Brookfield family of companies, which collectively holds title to some of the most valuable real estate properties in key markets worldwide.

The shares have come back a bit as of late by as much as 15%, and with the stock currently yielding 5.05%, this could be a good chance for Foolish investors to pick a quality name with a “buy on the dip.”

Another member of the Brookfield organization is Brookfield Renewable Partners L.P. (TSX:BEP.UN)(NYSE:BEP).

Brookfield, which is paying its shareholders a 6.35% yield today, owns a portfolio of renewable energy assets with a focus on wind and solar projects.

In light of recent actions by the Canadian Pension Plan Investment Board (CPPIB), it might be a good time to take a close look at the country’s leading renewable energy companies.

Enbridge Inc. (TSX:ENB)(NYSE:ENB) got some encouraging news last week regarding its Line 3 replacement project.

The Line 3 replacement project is expected to be the company’s biggest yet, and in combination with acquisition of Spectra Energy from a couple of year’s ago will help to set the company up with a solid stream of cash flows for years to come.

Those cash flows will help Enbridge to raise the current 5.71% dividend by as much as 10% annually until 2020.

Power Financial Corp. is a diversified international management and holding company that holds interests substantially in the financial services sector in Canada, the United States, and Europe.

One of Power Financial’s investments is Winnipeg-based insurer Great-West Lifeco Inc., which has outperformed well as of late thanks to strong results from its Canadian segment.

Success in Power’s portfolio of investments has helped contribute to the company’s bottom line, allowing it to increase its dividend by 4.9% in 2018 to yield shareholders 5.63% entering this week’s trading.

5 Canadian Growth Stocks Under $5

We are giving away a FREE copy of our "5 Small-Cap Canadian Growth Stocks Under $5" report. These are 5 Canadian stocks that we think are screaming buys today.

Get Your Free Report Today

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Jason Phillips owns the January 2019 calls in ENBRIDGE INC. The Motley Fool owns shares of Enbridge. Enbridge is a recommendation of Stock Advisor Canada.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss an important event.

Iain Butler and the Stock Advisor Canada team only publish their new “buy alerts” twice a month, and only to an exclusively small group.

This is your chance to get in early on what could prove to be very special investment advice.

Enter your email address below to get started now, and join the other thousands of Canadians who have already signed up for their chance to get the market-beating advice from Stock Advisor Canada.