• provide a healthy income stream in both good and bad markets;
• usually come from stable industries; and
• tend to outperform the market over the long run.

So, if you’re looking to pounce on the recent market crash with an extra $3,000 lying around, this might be a good place to start.

Without further ado, let’s get to it.

Bank shot

Leading things off is financial gorilla Bank of Nova Scotia (TSX:BNS)(NYSE:BNS), which currently offers a particularly juicy dividend yield of 6.6%.

Scotia shares remain off about 30% from their 52-week highs, but now might be the opportune time to jump in. Over the long run, Scotia’s sheer scale (total assets of roughly $600 billion), massive deposit base, and regulated banking environment should continue to support strong fundamentals.

In the most recent quarter, adjusted earnings fell 47% to $1.04 per share, as revenue climbed 1% to $7.7 billion. On the bright side, the bank’s capital and liquidity ratios remains very strong.

“While our retail banking businesses in Canada and international markets were adversely impacted by the pandemic, the bank’s performance was aided by strong results in Global Banking and Markets and Wealth Management,” said President and CEO Brian Porter.

Scotia shares currently trade at a forward P/E of 9.3.

Pipeline to profits

With a healthy dividend yield of 5%, midstream energy company Pembina Pipeline (TSX:PPL)(NYSE:PBA) is next on our list of fat income stocks.

Pembina shares are also still down in 2020, providing both income and value investors with a possible opportunity. Because while uncertainty surrounds the energy industry, Pembina’s big dividend continues to be supported by impressive integrated assets and a still-solid financial position.

In the most recent quarter, adjusted cash flow from operations actually increased to $586 million even as revenue dropped 30% to $1.27 billion.

“Pembina’s longstanding commitment to its financial guardrails and the steps taken recently to preserve its balance sheet and enhance its liquidity are expected to allow the company to exit 2020 in a strong financial position, ensuring its ability to restart various capital projects when it is deemed prudent to do so and providing confidence in the company’s ability to fund a stable and growing dividend,” wrote Pembina.

Pembina shares currently trade at a forward P/E of 12.

Heavy metal

Rounding out our list is steel and metal products specialist Russel Metals (TSX:RUS), which currently offers a solid dividend yield of 8.6%.

Russel shares have bounced back steadily over the past several months, but there might be plenty of room to run. Specifically, the company’s diversified offerings, solid scale advantages, and hefty cash flow should continue to fuel solid long-term appreciation.

While revenue plunged 37% in Q2, operating cash flow clocked in at an impressive $116 million.

“During the second quarter, the pandemic along with low energy prices created intense business conditions,” said President and CEO John Reid. “Demand at our service center and distribution operations appeared to bottom out in April followed by a modest, yet steady, increase throughout the balance of the quarter.”

Russel shares currently trade at a forward P/E of 11.

The bottom line

There you have it, Fools: three top high-yield stocks worth checking out.

As always, don’t view them as formal recommendations. Instead, look at them as a starting point for more research. A dividend cut (or halt) can be especially painful, so you’ll still need to do plenty of due diligence.

The post Got $3K to Invest? Lock In Yields as High as 8.9% With These 3 Top Stocks appeared first on The Motley Fool Canada.

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• can provide an ever-increasing income stream; and
• tend to outperform over the long haul.

So, even if you have just $3,000 you’d like to put to work, spreading it out among the three stocks below could give you a perpetually growing income machine.

Let’s get to it.

Electric shock

Leading off our list is electric and gas utility Fortis (TSX:FTS)(NYSE:FTS), which has grown its dividend for a whopping 47 consecutive years.

Fortis shares have remained remarkably resilient in 2020, proving that it remains one of the best ways to play defence. Specifically, the company continues to use its massive scale — over $50 billion in assets serving over three million customers — to deliver market-topping results for shareholders.

In the most recent quarter, EPS of $0.56 beat expectations by $0.14, as revenue improved 5.6% to $2.1 billion.

“Our family of utilities delivered reliable service to our customers during the quarter while remaining focused on the safety of our employees and communities during the pandemic,” said President and CEO Barry Perry. “We maintained operational and financial performance for the first half of 2020 as well as progressed key sustainability initiatives to deliver cleaner energy.”

Fortis shares currently offer a healthy dividend yield of 3.6%

Natural choice

With 25 straight years of dividend growth, natural gas midstream giant Enbridge (TSX:ENB)(NYSE:ENB) is next on our list.

Enbridge shares are still down significantly in 2020, providing value hounds with a possible buying opportunity. Specifically, the company’s cash-rich asset base, high-quality clientele (over 90% are investment grade), and strong management team continue to drive robust cash flows.

In the most recent quarter, EPS of $0.56 and distributable cash flow of $1.21 per share both easily topped expectations, even as revenue sank 40% to $7.96 billion. Looking ahead, management reaffirmed its full-year distributable cash flow view of $4.50-$4.80 per share.

“In summary, the first half 2020 performance has been stronger than expected, highlighting the resiliency of our business and our ability to deliver solid results in difficult market conditions,” said President and CEO Al Monaco.

Enbridge shares currently boast a particularly juicy dividend yield of 8.4%.

Power play

Rounding out our list is renewable energy provider Algonquin Power & Utilities (TSX:AQN)(NYSE:AQN), which has delivered 10 straight years of consistent dividend growth.

Algonquin shares remain essentially flat in 2020, which should give risk-averse investors some peace of mind. The company’s long-term prospects continue to be backed by attractive assets, solid scale (70 power facilities across North America), and stable cash flows.

In the most recent quarter, revenue remained solid at $343.6 million (flat over the prior year) and adjusted EBITDA clocked in at $176.3 million.

“APUC’s Regulated Services Group maintained safe reliable utility services to our customers amid the COVID-19 pandemic which reduced some volume related revenues in the quarter, while our Renewable Energy Group posted solid results unaffected by the pandemic,” said CEO Arun Banskota.

Algonquin shares currently offer a solid dividend yield of 4.4%.

The bottom line

There you have it, Fools: three attractive dividend-growth stocks worth checking out.

As always, they aren’t formal recommendations. They’re simply a starting point for more research. The snapping of a dividend-growth streak can be particularly painful, so plenty of due diligence is still required.

Fool on.

The post Got $3,000 to Invest? These “Forever Income” Stocks Can Set You up for Life appeared first on The Motley Fool Canada.

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• can provide an ever-increasing income stream; and
• tend to outperform over the long haul.

So, even if you have just $3,000 you’d like to put to work, spreading it out among the three stocks below could give you a perpetually growing income machine.

Let’s get to it.

Bank shot

Leading off our list is financial services giant Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM), which has steadily grown its dividend by 34% over the past five years.

The stock has jumped nicely in recent weeks, suggesting that the worst might behind it. Specifically, CIBC’s massive scale (total assets of more than $650 billion), rock-solid financial position, and a diversified revenue stream (personal banking, commercial banking, and wealth management) should continue to support long-term payout growth.

In the most recent quarter, the company’s tier one capital ratio remained solid, despite the pandemic-related dip in earnings and revenue.

“Our capital position remains strong, giving us flexibility and resilience as we navigate the current environment and continue to advance our long-term client-focused strategy,” said CEO Victor Dodig. “This will enable us to further diversify revenue streams, deepen client relationships and improve our efficiency as we continue to deliver value to our shareholders.”

The stock currently offers a healthy dividend yield of 5.8%.

Ringing endorsement

With dividend growth of 27% over the past five years, telecom gorilla BCE (TSX:BCE)(NYSE:BCE) is next on our list.

The stock has held up very well over the past several months, suggesting that BCE remains one of the best ways to play defence. BCE’s massive scale efficiencies, stable cash flows, and highly regulated operating environment should continue to give long-term investors peace of mind.

In the most recent quarter, EPS of $0.06 missed estimates but revenue of $5.35 billion topped expectations. More importantly, free cash flow jumped 50% to $1.61 billion while operating cash flow improved 22%.

“Bell’s performance in Q2 underscored the scale and resiliency of our networks, the strength of our financial foundation, and the Bell team’s success in keeping Canadians fully connected and informed throughout the COVID-19 crisis,” said President and CEO Mirko Bibic.

BCE shares currently boast a dividend yield of 5.8%.

Key to success

Rounding out our list is midstream energy company Keyera (TSX:KEY), which has delivered impressive dividend growth of 40% over the past five years.

Keyera shares have jumped sharply in August, but there might be plenty of room to run. Specifically, the company’s long-term trajectory is backed by well-integrated assets, smart acquisitions, and a strong financial position.

In the most recent quarter, EPS clocked in at $0.08 as revenue declined to $530 million. On the bullish side, Keyera maintained a conservative payout ratio of 51% while continuing to have minimal long-term debt maturities over the next five years.

“We believe our financial strength will allow us to maintain the stability and continuity of the business during this unprecedented economic time, while providing us with flexibility to be opportunistic,” wrote the company.

Keyera shares currently offer a mouth-watering dividend yield of 7.9%.

The bottom line

There you have it, Fools: three attractive dividend-growth stocks worth checking out.

As always, they aren’t formal recommendations. They’re simply a starting point for more research. The snapping of a dividend-growth streak can be particularly painful, so plenty of due diligence is still required.

Fool on.

The post Got an Extra $3,000? Buy These Hot “Forever Income” Stocks Before They Fly Away for Good appeared first on The Motley Fool Canada.

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• have far more appreciation potential than the average stock; and
• can help you outperform during bad times as investors flock to truly special growth stories.

So if you’re a Tax-Free Savings Account (TFSA) investor with $2,700 looking for outsized tax-free gains, this list is a good place to start.

Savvy software selection

Leading off our list is software technologist Descartes Systems Group (TSX:DSG), which has grown its EPS and revenue at a rate of 109% and 96%, respectively, over the past five years.

Descartes shares have soared over the past several months, giving momentum investors plenty of reason to pay attention. Over the long run, the company’s growth should continue to be supported by a dominant position in the logistics software space, positive secular trends, and prudent acquisitions.

In the most recent quarter, EPS clocked in at $0.13 as revenue improved 7% to $83.7 million.

“We have some customers who are struggling to keep up with demand in their business, while others have seen sharp drops,” said CEO Edward Ryan. “Regardless of the market dynamics they face, our Global Logistics Network is proving essential to helping them connect and collaborate to better manage the lifecycle of shipments.”

Descartes shares currently trade at a price-to-sales ratio of 19.

Easy does it

Next up, we have alternative lender goeasy (TSX:GSY), which has delivered EPS and revenue growth of 214% and 119%, respectively, over the past five years.

Goeasy shares have also been on a tear in recent months, suggesting that the company’s pandemic-related troubles are behind it. Specifically, Goeasy’s leading position in the Canadian subprime space, impressive scale, and strong secular growth trends should continue to underpin solid results over the long haul.

In the company’s most recent quarter, adjusted EPS spiked 50% as its loan portfolio increased 18% to $1.13 billion. Moreover, total liquidity jumped 30% to $260 million.

“As we continued to prioritize the safety and well-being of our team, customers, and communities throughout the pandemic, the second quarter also highlighted the unique strength and resiliency of our business model,” said CEO Jason Mullins.

Goeasy shares currently trade at a fairly cheap forward P/E of 9.

Stylish choice

Rounding out our list this week is fashion retailer Aritzia (TSX:ATZ), which has grown its EPS and revenue at a rate of 39% and 65%, respectively, over the past five years.

Aritzia’s business has been hit particularly has been hit hard amid the pandemic, but now might be an opportune time to jump in. Specifically, Aritzia’s strategic mix of products, rapidly growing e-commerce segment, and rock-solid financial position give it a solid base for long-term outperformance.

In the most recent quarter, e-commerce revenue spiked 150% even as total sales declined 43% to $111 million. More importantly, Aritzia’s cash balance stood at a still-solid $224 million at the end of the quarter.

“This corresponding eCommerce growth, coupled with prudent inventory and expense management, enabled us to end the quarter in a solid cash position,” said Founder and CEO Brian Hill.

Aritzia shares currently trade at a forward P/E of 18.

The bottom line

There you have it, Fools: three attractive growth stocks to check out.

They aren’t formal recommendations. Instead, view them as ideas worth further research. Even stocks with breakneck growth can crash hard if you don’t pay attention to valuation, so plenty of due diligence is still required.

Fool on.

The post Got $2,700 Lying Around? Pounce on These 3 Top Growth Stocks for Massive Upside in September appeared first on The Motley Fool Canada.

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• have far more appreciation potential than the average stock; and
• can help you outperform during bad times as investors flock to truly special growth stories.

So, if you’re a TFSA investor looking for outsized tax-free gains, this list is a good place to start.

Going global

Leading off our list is professional services specialist WSP Global (TSX:WSP), which has grown its EPS and revenue at a rate of 26% and 61%, respectively, over the past five years.

After plunging in March, WSP shares have recovered nicely, suggesting that the worst is behind it. Specifically, the company’s diversified business model, geographic reach, and hefty cash flows should continue to drive long-term growth.

In the most recent quarter, EPS clocked in at $0.45, as revenue improved 4.8% to $1.74 billion. More importantly, adjusted EBITDA — a key cash flow metric — was a still-solid $218.4 million.

“We have entered this crisis in a strong position and I am confident that, with our diversified business model, our engaged people and the disciplined management of our global business, we will come out of this pandemic on the other side an equally strong organization,” said CEO Alexandre L’Heureux.

WSP shares trade at a forward P/E of 21.

Dollar days

Next up, we have discount retailer Dollarama (TSX:DOL), which has grown its EPS and revenue at a rate of 105% and 54%, respectively, over the past five years.

Dollarama shares have risen impressively in recent months, but there might be enough time to hop aboard. The company’s recession-proof business model, solid scale (over 1,250 stores across Canada), and well-recognized brand should continue to fuel growth even amid this downturn.

In the most recent quarter, earnings clocked in at $86.1 million as revenue inched up 2%. More importantly, same-store sales growth (excluding temporarily closed stores) remained positive at 0.7%.

“Our first-quarter results reflect the direct and indirect effects of COVID-19 while demonstrating that Dollarama adapted quickly to an unprecedented situation in order to serve Canadians from coast to coast,” said President and CEO Neil Rossy.

Dollarama currently trades at a forward P/E in the low 20s.

Park it here

Rounding out our list is petroleum products specialist Parkland (TSX:PKI), which has grown its EPS and revenue at a rate of 387% and 191%, respectively, over the past five years.

Parkland shares have also been steady in recent weeks, suggesting that it remains a solid way to play defence. In particular, the company’s massive scale, integrated supply chain, and solid cash flows should keep long-term shareholders satisfied.

In the most recent quarter, EPS clocked in at $0.53, as revenue improved 3.6% to $4.4 billion.

“We delivered strong financial and operating performance through the first 10 weeks of the year with base operations and growth initiatives on-track with our plan,” said CEO Bob Espey. “Covid-19 paused this momentum in mid-March, however, despite this and other economic headwinds, including a declining Canadian dollar and lower, more volatile commodity prices, our diverse business is proving resilient.”

Parkland shares offer a solid dividend yield of 3.5%.

The bottom line

There you have it, Fools: three attractive growth stocks to check out.

They aren’t formal recommendations. Instead, view them as ideas worth further research. Even stocks with breakneck growth can crash hard if you don’t pay attention to valuation, so plenty of due diligence is still required.

Fool on.

The post Sidestep the CRA: 3 Top Growth Stocks to Buy in Your TFSA Now appeared first on The Motley Fool Canada.

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So even if you have just $9,000 you’d like to put to work, spreading it out among the three stocks below could give you a perpetually growing income machine.

Let’s get to it.

Gassy feeling

Leading off our list is natural gas midstream company Enbridge (TSX:ENB)(NYSE:ENB), which has grown its dividend 73% over the past five years.

After getting crushed in March, Enbridge’s shares are still largely bruised, but now might be an opportune time to pounce on shares of the company. More specifically, Enbridge’s stable cash flow generation, high-quality clientele (93% are investment grade), and diversified asset base should keep things stable long term.

In the most recent quarter, EPS of $0.83 topped estimates by $0.10 even as revenue declined 6.6% to $12 billion. More importantly, Enbridge produced $2.71 billion in distributable cash flow.

“[R]esiliency has always been a hallmark of how we manage our business; our strategically located assets, diversified cash flows, strong commercial underpinnings, and a strong balance sheet, allow us to withstand economic downturns and stay well-positioned for the future,” said CEO Al Monaco.

Enbridge currently offers an especially juicy dividend yield of 8.0%.

Video star

With whopping dividend growth of 796% over the past five years, Montreal-based telecom Quebecor (TSX:QBR.B) is next on our list.

Quebecor shares have been relatively stable over the past few months, suggesting that it remains a solid way to play defense. Specifically, the company’s massive telecom subsidiary Videotron should continue to thrive amid a recession.

In the most recent quarter, EPS came in at $0.44 as revenue improved 3% to $1.06 billion. More importantly, operating cash flow increased 6.8% to $295 million.

“At a time when the world is facing an unprecedented situation because of the COVID 19 pandemic, Quebecor has adapted quickly and continues providing Quebecers with essential telecommunications and news media services,” said CEO Pierre Karl Péladeau. “We have taken a series of steps to help our customers stay connected, while protecting the health and safety of our employees, customers and the public.”

Quebecor currently offers a dividend yield of 2.8%.

Power play

With dividend growth of 38% over the past five years, electricity giant Fortis (TSX:FTS)(NYSE:FTS) rounds out our list this week.

Fortis shares have held up well in 2020, providing Fools with plenty of comfort. Long-term, the company’s massive scale ($53 billion in total assets), highly regulated operating environment, and stable cash flows should continue to support strong payout growth.

In the most recent quarter, EPS of $0.68 topped expectations by $0.16 as revenue slipped 2% to $2.4 billion. Notably,  the company’s five-year capital plan of $18.8 billion and dividend growth guidance both remain unchanged.

“Fortis continues to be well positioned to enhance shareholder value through the execution of its capital plan, the balance and strength of its diversified portfolio of utility businesses, and growth opportunities within and proximate to its service territories,” wrote management.

Fortis currently offers a healthy dividend yield of 3.7%.

The bottom line

There you have it, Fools: three attractive dividend-growth stocks worth checking out.

As always, they aren’t formal recommendations. They’re simply a starting point for more research. The snapping of a dividend growth streak can be particularly painful, so plenty of due diligence is still required.

Fool on.

The post Got $9,000 to Invest? Buy These 3 “Forever Income” Stocks Before They Bounce Back appeared first on The Motley Fool Canada.

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• provide a healthy income stream in both good and bad markets;
• usually come from stable industries; and
• tend to outperform the market over the long run.

So, if you’re looking to pounce on the recent market crash with an extra $10,000 lying around, this might be a good place to start.

Without further ado, let’s get to it.

Bank on it

Kicking things off is financial services giant Royal Bank of Canada (TSX:RY)(NYSE:RY), whose shares sport an attractive dividend yield of 4.7%.

After plunging in March, RBC shares have been relatively steady in recent weeks, suggesting that now might be a peaceful moment to jump in. Specifically, the company’s massive scale advantages, increasingly diversified business model, and highly regulated operating environment should continue to support fat long-term dividends.

In the recent quarter, RBC’s capital ratios remained well above regulatory requirements despite a 10% decline in revenue.

“Our scale, diversified business mix, technology investments and talented employees define our leading client franchises,” said President and CEO Dave McKay. “Our strong capital and liquidity position, and disciplined risk management, have enabled us to remain resilient and focused on delivering long-term value for our clients, shareholders and communities.”

RBC now trades at a cheapish forward P/E of 10.9.

Pipeline to profits

With a fat dividend yield of 5.6%, pipeline giant TC Energy (TSX:TRP)(NYSE:TRP) is next up on our list.

TC shares have held up quite well in recent months, suggesting that it remains a solid way to play defense. Specifically, the company’s massive economies of scale, attractive development pipeline, and long-term contracts should continue to support sustained dividend growth.

In the most recent quarter, EPS of $1.22 topped expectations by $0.14 even as revenue slipped 2% to $3.4 billion. More importantly, comparable funds from operations — a key cash flow metric — increased 17% to $2.1 billion.

Management even declared a quarterly dividend of $0.81 per share.

“With approximately 95 per cent of our comparable EBITDA generated from regulated assets and/or long-term contracts, we are largely insulated from short-term volatility associated with volume throughput and commodity prices,” said President and CEO Russ Girling.

TC shares currently trade at a P/E of 13.2.

Sunny skies ahead

Rounding out our list is oil and gas giant Suncor Energy (TSX:SU)(NYSE:SU), which currently sports a dividend yield of 3.7%.

While Suncor shares remain down about 50% from their 52-week highs, now might be a perfect time to pounce. Even with volatile oil prices, Suncor can maintain relatively stable cash flows due to its diversified operations and rock-solid financial position.

To be sure, management recently cut its dividend in half to protect the balance sheet. That said, the company’s trailing-12-month free cash flow of $4.3 billion should give investors plenty of comfort.

“The COVID‑19 pandemic has led to an unprecedented decline in demand for transportation fuels and a significant oversupply of crude oil resulting in a substantial decline in crude oil prices,” said President and CEO Mark Little. “Our integrated model and balance sheet strength are distinct advantages coming into this environment.”

Suncor currently trades at a price-to-book of 0.9.

The bottom line

There you have it, Fools: three top high-yield stocks worth checking out.

As always, don’t view them as formal recommendations. Instead, look at them as a starting point for more research. A dividend cut (or halt) can be especially painful, so you’ll still need to do plenty of due diligence.

The post Got $10K to Invest? Create a “Dream Income Stream” With These 3 High-Yield Stocks appeared first on The Motley Fool Canada.

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• can provide an ever-increasing income stream; and
• tend to outperform over the long haul.

So, even if you have just $10,000 you’d like to put to work, spreading it out among the three stocks below could give you a perpetually growing income machine.

Let’s get to it.

Rolling along

Leading off our list is retail giant Canadian Tire (TSX:CTC.A), which has grown its dividend a whopping 107% over the past five years

Canadian Tire shares have held up very well in recent months, suggesting that the worst might be behind it. Long term, the company’s reliable dividend growth continues to be backed by an iconic brand, rapidly growing e-commerce segment, and massive scale advantages (over 1,700 locations across Canada).

In the most recent quarter, diluted EPS came in at $(0.22) as total revenue decreased 1.4% to $2.85 billion. But on the bright side, the Canadian Tire brand delivered a 0.7% increase in same-store sales, despite the impacts of COVID-19.

“I am very encouraged by early results in the second quarter, and I am confident that we will continue to successfully operate in this new normal and excel over the long-term,” said CEO Greg Hicks.

Canadian Tire currently offers a dividend yield of 3.9%.

The good life

With dividend growth of 62% over the past five years, Manulife Financial (TSX:MFC)(NYSE:MFC) is next on our list.

Manulife shares have yet to recover from their big fall in March, but now might be an opportune time to jump in. Specifically, the company’s strong operating efficiency, tremendous growth potential in Asia, and rock-solid fundamentals should continue to underpin strong dividend payments over the long haul.

In the most recent quarter, core earnings declined 34% to $1 billion, while core return on equity (ROE) — a key insurance metric — clocked in at 8.2%.

On the bullish side, the company’s leverage ratio remains at a solid 23%.

“Our balance sheet has shown resilience in challenging market conditions,” said CFO Phil Witherington. “This combination provides financial flexibility and puts us in a position of strength during challenging macroeconomic times.”

Manulife currently offers a dividend yield of 6.0%.

Power play

Rounding out our list is power provider Algonquin Power & Utilities (TSX:AQN)(NYSE:AQN), whose dividend has risen 77% over the past five years.

Algonquin shares have been resilient over the past several months, suggesting that it remains an ideal way to play defence. Over the long run, Algonquin’s highly regulated operating environment, solid scale (70 power facilities across North America), and hefty cash flows should support solid returns.

In the most recent quarter, adjusted EBITDA improved 5% even as revenue dipped 3% to $465 million.

“APUC’s strong and resilient business model allowed the Company to continue growing in the first quarter of 2020 while navigating through what was a challenging weather environment,” said Ian Robertson,” said CEO Ian Robertson. “We believe APUC is well positioned to deal with the impact COVID-19 may have on our business in 2020.”

Algonquin shares currently offer an attractive dividend yield of 4.9%.

The bottom line

There you have it, Fools: three attractive dividend-growth stocks worth checking out.

As always, they aren’t formal recommendations. They’re simply a starting point for more research. The snapping of a dividend-growth streak can be particularly painful, so plenty of due diligence is still required.

Fool on.

The post Plunk $3,300 Into Each of These 3 Stocks and You Could Watch Your Wealth Grow Forever appeared first on The Motley Fool Canada.

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• provide a healthy income stream in both good and bad markets;
• usually come from stable industries; and
• tend to outperform the market over the long run.

So, if you’re looking to pounce on the recent market crash with an extra $10,000 lying around, this might be a good place to start.

Without further ado, let’s get to it.

Bank shot

Leading off our list is financial services giant Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM), which offers a delicious dividend yield of 6.2%.

CIBC shares have rallied nicely over the past month, suggesting that the worst might be behind it. Specifically, CIBC’s increasingly diversified business model and massive scale advantages (total assets of more than $650 billion) should continue to support healthy long-term dividends.

In the most recent quarter, EPS of $0.94 widely missed estimates as revenue stayed flat at $4.6 billion.

That said, management remains confident in the bank’s financial position.

“Our capital position remains strong, giving us flexibility and resilience as we navigate the current environment and continue to advance our long-term client-focused strategy,” said CEO Victor Dodig. “This will enable us to further diversify revenue streams, deepen client relationships and improve our efficiency as we continue to deliver value to our shareholders.”

CIBC shares currently sport a forward P/E of about 10.3.

Real idea

With a mouth-watering dividend yield of 8.9%, retail real estate company RioCan Real Estate Investment Trust (TSX:REI.UN) is next up on our list.

While RioCan shares haven’t recovered from their beat-down in March, now might be an opportune time to jump in. In particular, the company’s scale, strong management team, and residential growth plans continue to support the long-term bull case.

In the most recent quarter, funds from operations (FFO) — a key cash flow metric in the REIT industry — clocked in at a solid $144.6 million.

“At the outbreak of the COVID-19 pandemic, with pre-planning and forethought, we were able to rapidly mobilize our pre-established crisis management team, execute on our business continuity plan and seamlessly adapt to working and staying connected remotely while maintaining our commitment to providing access to essential services in a safe and responsible way,” said CEO Edward Sonshine.

RioCan currently trades at a P/E of 7.4.

Roger that

Rounding out our list is telecom gorilla Rogers Communications (TSX:RCI.B)(NYSE:RCI), which currently sports a dividend yield of 3.5%.

Rogers shares have held up relatively well during the past several months, suggesting that it remains an ideal way to play defense. Specifically, Rogers’ dividends are backed by stable wireline leadership, impressive wireless growth, and unmatched cost efficiencies.

Over the past five years, Rogers has grown its revenue, EPS, and operating cash flow at a rate of 13%, 63%, and 31%, respectively.

“We began to see the impact of COVID-19 in the final few weeks of Q1 and have quickly adapted our operations to continue delivering critical services to meet the evolving needs of our customers,” said CEO Joe Natale. “Our strong balance sheet positions us well to manage through this crisis.”

Rogers shares currently trade at a P/E of 14.6.

The bottom line

There you have it, Fools: three top high-yield stocks worth checking out.

As always, don’t view them as formal recommendations. Instead, look at them as a starting point for more research. A dividend cut (or halt) can be especially painful, so you’ll still need to do plenty of due diligence.

Fool on.

The post $3,300 Invested in These Stocks Equals a Fat Income Stream for Life appeared first on The Motley Fool Canada.

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• can provide an ever-increasing income stream; and
• tend to outperform over the long haul.

So, even if you have just $12,000 you’d like to put to work, spreading it out among the three stocks below could give you a perpetually growing income machine.

Let’s get to it.

Saved by the bell

Leading off our list is telecom gorilla BCE (TSX:BCE)(NYSE:BCE), which has grown its dividend by 27% over the past five years.

The stock has held up relatively well amid the pandemic crash, providing Fools with some much-needed comfort. Specifically, BCE’s massive scale efficiencies, stable cash flows, and highly regulated operating environment should continue to support solid long-term dividend growth.

In the most recent quarter, EPS of $0.80 topped expectations by $0.5, as revenue clocked in at $5.68 billion. While revenue slipped amid the pandemic, the company ended the quarter with liquidity of $3.2 billion and a remarkably strong balance sheet.

“While the crisis significantly impacted retail activity, media advertising revenue and many other parts of our business in Q1, our solid results underscore Bell’s ongoing leadership in network and service innovation, and consistently strong execution by the Bell team,” said President and CEO Mirko Bibic.

BCE shares offer a dividend yield of 3.0%.

Premium choice

With dividend growth of 64% over the past five years, packaged foods specialist Premium Brands Holdings (TSX:PBH) is next up on our list.

Premium Brands shares have also held steady in recent weeks, suggesting that it remains a tasty way to play defence. In particular, the company’s widely recognized brands, steady expansion the United States, and sound acquisition process should continue to underpin healthy dividends.

In the most recent quarter, EPS of $0.53 beat expectations by $0.10, as revenue popped 20% to $935 million. Moreover, the company ended the quarter with a strong balance sheet and $214 million of available credit capacity.

“Once some normalcy returns to our economy we will be well positioned to continue to execute on both our organic and acquisition growth strategies,” said President and CEO George Paleologou. “On a positive note, we are already starting to see some green shoots and are encouraged by the pick-up in demand from customers and channels that were initially severely impacted by the partial shutdown of our economy.”

Premium Brands offers a dividend yield of 2.7%.

Tactful approach

With steady dividend growth of 54% over the past five years, property and casualty (P&C) insurance company Intact Financial (TSX:IFC) rounds out our list.

After falling sharply in March, Intact shares have recovered pretty well, suggesting that the worst might be behind it. As Canada’s largest P&C insurance company, Intact’s massive scale advantages, in-house claim expertise, and multi-channel distribution system should continue to back hefty dividend payments.

In the most recent quarter, operating income per share came in at $1.61, which included $83 million of direct COVID-19 related losses. More importantly, premiums grew a solid 14%, while the company maintained a strong capital position with $1.5 billion of total capital margin.

“Despite COVID-19 related losses, our financial performance remains on track, our capital position is solid and I’m confident in the resilience of our business,” said CEO Charles Brandamour.

Intact shares currently offer a dividend yield of 2.5%.

The bottom line

There you have it, Fools: three attractive dividend-growth stocks worth checking out.

As always, they aren’t formal recommendations. They’re simply a starting point for more research. The snapping of a dividend-growth streak can be particularly painful, so plenty of due diligence is still required.

Fool on.

The post $4,000 Invested in These 3 Stocks Could Give You Growing Income for Life appeared first on The Motley Fool Canada.

More reading

• 3 High-Yield Dividend Stocks to Power Your Income Stream in 2026
• 3 TSX Dividend Stocks With Payout Ratios That Actually Hold Up to Scrutiny
• 5 TSX Dividend Stocks Worth HoldingThrough the Next 10 Years
• Everything Investors Should Understand About BCE’s Dividend Right Now
• Some of the Smartest Canadian Investors Are Piling Into This TSX Stock