Investors looking for stable, high-yielding dividend stocks may want to consider some of Canada's top companies. While most Canadian firms are headquartered in Toronto, many have strong U.S. operations and generate a large portion of their revenue in the States. They also tend to be diversified across several different industries, which can help mitigate sector-specific risks. Here are 10 awesome Canadian dividend stocks for U.S. investors to consider.
10. Bank of Nova Scotia (NYSE: BNS)
Bank of Nova Scotia, or Scotiabank, is one of Canada's Big Five banks and the third-largest by market capitalization. The bank has over 900 branches in Canada and another 1,400 locations internationally. According to Finance, Approximately 46% of Scotiabank's loan portfolio is exposed to the U.S., making it one of the most geographically diversified of Canada's banks. The company recently raised its dividend by 5.4% and has a long history of dividend increases, having hiked its payout for 43 consecutive years.
9. B2Gold Corp. (NYSE: BTG)
B2Gold is a gold producer with operations in Mali, Nicaragua, the Philippines, and Namibia. The company is in the process of commissioning its second mine, Fekola, in Mali which is expected to add 250,000 to 300,000 ounces of gold production annually. B2Gold has a market capitalization of over $4 billion and is one of the larger gold miners that U.S. investors can access.
8. Suncor Energy Inc. (NYSE: SU)
Suncor Energy Inc. is one of the largest energy companies in Canada with a market capitalization of over $50 billion. The company is a leading integrated oil and gas producer with operations throughout North and South America. Suncor's upstream (exploration and production) operations are primarily focused on the oil sands region of Alberta. The company's downstream operations (refining and marketing) are located primarily in Canada, the United States, and Europe. Suncor is one of the lowest-cost producers of crude oil from the oil sands and is one of the largest providers of refining and marketing services in Canada. The company's shares are listed on the New York Stock Exchange and the Toronto Stock Exchange.
7. Russel Metals Inc. (OTC: RUSMF)
Russel Metals Inc. is a North American metals service center specializing in the processing and distribution of steel, aluminum, and stainless steel products. The company has over 100 locations across the United States and Canada, with a customer base that includes major corporations in the aerospace, construction, energy, manufacturing, and transportation industries. Russel Metals is a publicly-traded company with a market capitalization of over $1 billion, and its shares trade on the Toronto Stock Exchange. The company has a dividend yield of 1.3%.
6. Manulife Financial Corporation (NYSE: MFC)
Manulife is a large insurance company with a history dating back over 100 years. The company has operations in Canada, the United States, and Asia, and offers a variety of insurance products, including life insurance, health insurance, and investment products. Manulife has a strong track record of dividend growth and has increased its dividend for 10 consecutive years. The company's shares offer a yield of 2.8%.
5. Corus Entertainment Inc. (OTC: CJREF)
Corus Entertainment is a Canadian media and entertainment company with a focus on radio and television broadcasting. The company owns 45 radio stations across the country, as well as a variety of specialty television channels. Corus also owns Nelvana, an animation studio responsible for hit shows such as "Caillou" and "Babar." Corus has a long history of paying dividends and has increased its dividend payments for 11 consecutive years. The company's dividend payout ratio is a bit on the high side at 71%, but its strong cash flows provide some cushion. Corus is a relatively small company, with a market capitalization of just over $2 billion. The company's shares offer a dividend yield of 2.1%.
4. BCE Inc. (NYSE: BCE)
BCE is a large Canadian telecommunications company. It is the largest communications company in Canada, and it has a large customer base in both Canada and the United States. BCE has a long history of paying dividends and is a Dividend Aristocrat. It has increased its dividend for 10 consecutive years and currently offers a yield of 4.7%.
3. Enbridge Inc. (NYSE: ENB)
If you're looking for a top Canadian dividend stock, Enbridge Inc. (NYSE: ENB) is a great choice. Enbridge is one of the largest energy infrastructure companies in North America, with a market cap of over $60 billion. According to Insidermoney, The company has a strong history of dividend growth, and currently pays a quarterly dividend of $0.61 per share, for a yield of 5.7%. Enbridge also has a solid track record of earnings growth, with EPS rising at a compound annual rate of 11% over the last five years.
2. Bank of Montreal (NYSE: BMO)
Bank of Montreal (NYSE: BMO) is one of the oldest banks in Canada, having been founded in 1817. Today, it is a large, diversified financial institution with operations in both Canada and the United States. According to Hardbacon, It offers a wide range of banking products and services, including personal and commercial banking, wealth management, and investment banking. Investors in the Bank of Montreal can enjoy a dividend yield of 3.8%. The bank has a long history of paying dividends and has increased its dividend payout for 10 consecutive years. In addition, the bank’s strong financial position and conservative approach to risk management should help to support the dividend in the future.
1. Royal Bank of Canada (NYSE: RY)
Royal Bank of Canada is the largest bank in Canada with assets totaling $935 billion. The company operates in both personal and commercial banking and has a strong presence in the United States. Royal Bank of Canada has a long history of paying dividends and has increased its payout for 10 consecutive years. This bank is a great choice for U.S. investors looking for a large, stable bank with a commitment to shareholder returns. If you're looking for a piece of the Canadian banking sector, Royal Bank of Canada is a great option.
So there you have it, 10 awesome Canadian dividend stocks for U.S. investors. While some may be more familiar than others, all of these companies offer compelling investment opportunities. It's hard to go wrong with any of these picks. You will be able to find more information about each company by doing your due diligence.
You can also read:
Written by Allen Lee
Read more posts by Allen Lee