In this article, let’s take a look at the top 150+ Canadian dividend stocks. If you ask me, I will recommend every investor/investment portfolio to hold a few well-paying but stable dividend stocks (blue chips of course).
Especially if you plan to invest in blue-chip companies for the long term, your dividends will grow over time. This is the usual norm. In this list I mentioned below, dividend stocks are ranked based on dividend yield (percentage/s) from high to low. Also remember to always invest in dividend-paying stocks in your TFSAs and RRSPs. Your dividends are tax-free and there is no annual cap or capital gains tax on which you must pay.
Why invest in Canadian dividend stocks?
Dividend income is free money at the end of the month or quarterly, right? Who doesn’t want that? Even the best companies in the world, like Apple and Microsoft, regularly pay increasing dividends every quarter.
With dividend income, you will receive additional monthly, quarterly or annual payments – in which you can reinvest to buy more shares of the same or other companies and thus increase the value of your investment over time. Otherwise, take advantage of the dividends you receive or use them for your monthly expenses, saving some of your salary for bills. It’s a win-win either way.
Any TSX stock with decent annual growth and good dividends (cash flow and reserves) is the best choice. Additionally, having a mix of growth + dividend stocks + ETFs is the best portfolio you can think of.
