Are you looking for a good place store your money that isn’t a low-yielding savings account at your bank? The good news is there are some very good dividend stocks out there for you to choose from today that make payments to you every month just for holding their shares.
And if you hold the investments inside your TFSA, the dividend income and any capital appreciation earned will be tax-free as well. Here are three stocks that could be some great options for investors today.
Global Water Resources Inc (TSX:GWR)(NASDAQ:GWRS) pays investors the lowest yield on this list, at around 2.3%. However, like Morguard, it has increased its payouts over the years, raising them from US$0.022 every month three years ago to US$0.023861.
That’s a lot of decimals to factor in, but it comes out to a growth rate of 8.46% for a CAGR of 2.7%. It’s not a growth rate that’s going to get a lot of investors excited, but the fact that payments are rising is still a good sign for investors.
With the company being in the water business, it’s also a very good, relatively safe investment to make. And as it’s based in Phoenix, Arizona, there’s definitely a lot of room for Global Water to expand should it decide to look to other parts of the U.S.
Its strategy has been paying off for investors thus far, as the stock has tripled in value over the past five years. With a solid dividend amid a stable industry, the stock could be a rock-solid investment.
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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 David Jagielski has no position in any of the stocks mentioned.