4 of the Safest Dividend Stocks on Earth Right Now

These dividend stocks offer up strong dividends, a cheap share price, and safety from growing, safe sectors of the market.

| More on:
edit Safety First illustration

Image source: Getty Images

I’m not going to mess around like I sometimes do at the beginning of articles. Your time is precious, as is your money. That is exactly why today, I’m going to discuss the safest dividend stocks out there. We all need cash, and this is where you can get it today — and not just today but for life.

Fiera Capital

Fiera Capital (TSX:FSZ) is a strong asset manager that invests in growth and value stocks alike. It’s been around for decades, with a long history of dividend payments to boot. It currently boasts an incredible 9.86% dividend yield as well — one that’s supported by a $1 billion market capitalization.

One thing to note is that the company is going through the effects of the financial markets. This decreased revenue, earnings and its net assets for the most recent quarter. Even still, during a market rebound with inflation getting under control, it could mean Fiera sees a pop up. And it remains one of the safest dividend stocks out there, with a decade-long compound annual growth rate (CAGR) of 10.4%.

Shares of Fiera are down 2.7% year to date.

Brookfield Asset Management

Another company managing assets for decades, in fact over a century, is Brookfield Asset Management (TSX:BAM.A)(NYSE:BAM). The company holds everything from apartments to casinos all around the world. This diverse range of real estate properties allows it to even have offshoots of specific areas, and it remains a strong choice among dividend stocks.

Its diversified investments, $112 billion market cap, and net income of $11.1 billion during its latest quarter are all reasons that point to the safety of the company’s dividend. That dividend isn’t crazy high at 1.07%, but it’s certainly safe. Meanwhile, it’s risen at a CAGR of 8.52% in the last decade.

Shares of Brookfield are down 10% year to date.

CIBC

Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM) is one of the Big Six banks, and that makes it safe in its own right. Its provisions for loan losses have allowed the bank to continue growing, even as loans become lower. However, CIBC stock has managed to be one of the best dividend stocks while also seeing its business increase.

That comes down to its focus on customer service, providing more and more options for clients to decide to choose this bank above the rest. That includes its recent stock split, where the company is now the cheapest of the banks to buy at just $66 per share. All while still boasting a 5.04$ dividend yield, trading at 9.43 times earnings. That dividend has grown by a 5.22% CAGR.

Shares of CIBC stock are down 7.76% year to date.

Great-West Lifeco

Insurance is just one of those industries that simply isn’t going anywhere. So, neither is the dividend for Great-West Lifeco (TSX:GWO). The company has been growing its insurance business around the world and acquiring other companies along the way. This has made it into a powerhouse, with a market cap of $29.86 billion as of writing. It continues to climb, according to its second-quarter results, with net earnings reaching $301 million.

And yet, it’s so cheap! Great-West is another of the dividend stocks trading at just 9.43 times earnings, while offering up a 6.26% dividend yield. The yield has grown by a CAGR of 3.9% over the last decade.

Shares of Great-West are still down 13% year to date.

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 Amy Legate-Wolfe has positions in CANADIAN IMPERIAL BANK OF COMMERCE. The Motley Fool recommends Brookfield Asset Management Inc. CL.A LV and FIERA CAPITAL CORP.

More on Dividend Stocks

Technology
Dividend Stocks

10 Years From Now, You’ll Be Glad You Bought These Magnificent TSX Dividend Stocks

The TSX is lucrative to buy these magnificent dividend stocks in bulk and be proud of this decision 10 years…

Read more »

calculate and analyze stock
Dividend Stocks

4 Fabulous Dividend Stocks to Buy in July

Are you looking for long-term income? These four dividend stocks should not only provide you with value in July but…

Read more »

financial freedom sign
Dividend Stocks

5 Steps to Financial Freedom for Canadian Millennials

Follow these steps and nothing can stop Canadian millennials from achieving their early retirement dreams.

Read more »

Investor wonders if it's safe to buy stocks now
Dividend Stocks

We’re Only Getting Older: A Top TSX Stock That Benefits From an Aging Population

For a bet on the aging population, consider this small-cap stock with growth potential.

Read more »

Growing plant shoots on coins
Dividend Stocks

Yield Today, Growth Tomorrow: 3 Stocks to Keep Building Your Wealth

For investors seeking yield today and growth tomorrow, these top Canadian dividend stocks are certainly worth considering right now.

Read more »

Payday ringed on a calendar
Dividend Stocks

This 10.72% Dividend Stock Pays Cash Every Month

This dividend stock remains a consistent, defensive dividend producer that will give up over 10% in income each and every…

Read more »

Blocks conceptualizing Canada's Tax Free Savings Account
Dividend Stocks

TFSA Investors: 2 Standout Domestic Stocks With 7% Yields

These top dividend-growth stocks look oversold.

Read more »

Dividend Stocks

2 Dividend Stocks to Double Up on Right Now

Despite their recent declines, the long-term growth outlook of these two top dividend stocks remains strong, which could help their…

Read more »