The stock market is an everchanging and evolving place. Daily values fluctuate and opportunities will constantly present themselves. With this in mind, it’s important to have a strategy and systematic approach to what businesses you buy and why.
With that said, here are my top 10 picks for Canadian dividend stocks this December. Please note that this list is sorted alphabetically and does not assess business viability.
The following list were compiled using a simple screener I developed. There should be something for dividend investors of all stripes here, whether it’s bond-proxy income, high yield, or dividend growth. It is important to note that this list is only sorted alphabetically, and not by ranking. Additionally, this list does not assess the viability of the business. As such, it is highly recommended that you follow through with your own due diligence
Algonquin Power and Utilities Corp
Algonquin is a Canadian renewable energy and regulated utility company. Their primary power generating assets include hydroelectric, wind and solar. Algonquin Power and Utilities operates two subsidiaries, Liberty Power and Liberty Utilities. Algonquin Power and Utilities Corporation is a Canadian Dividend Aristocrat.
Investment Data
- Ticker: TSE:AQN
- Sector: Utilities
- Industry: Renewables
- Market Cap: 12.13B
- P/E: 25.07
- Dividend Yield: 4.65%
Emera
Emera is a regulated electric utility company. Their primary areas of business are Florida and Atlantic Canada. Emera is quickly gaining prominence in many Canadian Dividend portfolios due to the regulated nature of their business, which provides reliable cashflow. Emera is a Canadian Dividend Aristocrat.
Investment Data
- Ticker: TSE:EMA
- Sector: Utilities
- Industry: Diversified
- Market Cap: 13.59B
- P/E: 15.61
- Dividend Yield: 4.68%
Fortis
Based out of St. John’s, Newfoundland, Fortis is an international electric utility company. They operate in Canada, the US, Central America and the Caribbean. Amongst Canadian Dividend Investors, Fortis is a typical core holding, owing to over 40 years of consecutive dividend increases. Fortis is a Canadian Dividend Aristocrat.
Investment Data
- Ticker: TSE:FTS
- Sector: Utilities
- Industry: Regulated
- Market Cap: 19.97B
- P/E: 25.07
- Dividend Yield: 3.82%
Linamar
Linamar is the second largest automobile parts manufacturer, and supplies products to automotive and industrial markets. They operate 61 manufacturing facilities around the world, while their products are used by light vehicles, commercial trucks, off-highway, energy and industrial OEM.
Investment Data
- Ticker: TSE:LNR
- Sector: Consumer Cyclical
- Industry: Auto Parts
- Market Cap: 3.92B
- P/E: 18.29
- Dividend Yield: 0.80%
Manulife
Manulife Financial Corporation is an international financial services company and provides financial advice, insurance, wealth and asset management solutions. It is the largest Canadian life insurance company and the second largest in North America. Manulife is amongst the top 10 life insurers world-wide by market capitalization, managing over $1.2 trillion. It’s primary operations are in Asia (33%), Canada (20%), US (30%), global wealth and asset management (17%). Manulife is a Canadian Dividend Aristocrat
Investment Data
- Ticker: TSE:MFC
- Sector: Financial Services
- Industry: Insurance – Life
- Market Cap: 31.89B
- P/E: 8.41
- Dividend Yield: 4.96%
Minto Apartments
Minto Apartment REIT is Canada’s only 100% urban residential REIT. They operate a portfolio of 29 high-quality, multi-residential rental properties in major population centres such as Toronto, Ottawa, Montreal, Calgary and Edmonton.
Investment Data
- Ticker: TSE:MI.UN
- Sector: Real Estate
- Industry: REIT – Residential
- Market Cap: 0.703B
- P/E: 3.99
- Dividend Yield: 2.37%
Northland Power
Northland Power develops, builds, owns and operates clean and green power infrastructure assets in Canada and Europe. They are one of Canada’s first independent power producers. Through their global operating facilities, they generate over 2.6 GW of electricity, with another 130 MW under construction and another 1.1 GW in future developments. They produce electricity from thermal (40%), wind (55%) and solar (5%). Their operations include North America, South America, Europe and Asia.
- Ticker: TSE:NPI
- Sector: Utilities
- Industry: Renewables
- Market Cap: 9.154B
- P/E: 23.99
- Dividend Yield: 2.82%
NorthWest Healthcare
NorthWest Healthcare Properties REIT specialized in high quality healthcare real estate. They are the largest non-government owner and manager of medical office buildings and healthcare facilities in Canada. Major markets include Americas, Europe and Australasia. Their portfolio consists of medical office buildings, clinics and hospitals with long term leases and stable occupancies.
Investment Data
- Ticker: TSE:NWH.UN
- Sector: Real Estate
- Industry: REIT – Healthcare Facilities
- Market Cap: 2.15B
- P/E: 26.04
- Dividend Yield: 6.58%
Power Corporation
Power Corporation is a diversified management company with operations in financial services, asset management, sustainable and renewable energy companies. The company operates in North America, Europe and Asia. Operations include Power Financial, Power Energy Corporation, Sagard Investment Funds and China Asset Management. Power Corporation is a Canadian Dividend Aristocrat.
Investment Data
- Ticker: TSE:POW
- Sector: Financial Services
- Industry: Insurance – Life
- Market Cap: 20.26B
- P/E: 11.24
- Dividend Yield: 5.94%
RioCan
RioCan is one of Canada’s largest REITs. They own, manage and develop retail-focused properties. Recently, their focus has shifted towards mixed-use properties, with a focus on residential and office in prime, high density, high traffic areas. Their retail properties are very stable with 75% of their tenants being considered essential services. They are focusing on increasing this percentage and with their increasing focus on mixed use as opposed to pure retail will de-risk their portfolio.
Investment Data
- Ticker: TSE:REI.UN
- Sector: Real Estate
- Industry: REIT – Retail
- Market Cap: 5.80B
- P/E: 299.67
- Dividend Yield: 7.98%
DISCLAIMER: Please note that this blog represents my opinion and is not advice or a recommendation. I am not a financial advisor nor am I qualified to give financial advice. Before you buy any stocks/funds consult with a qualified financial planner. Your investment decisions are made at your own risk.
