Best Dividend Stocks This Month
Sun Life Financial, TELUS, and Power Financial have one big thing in common. They are on my list of the best dividend stocks which have generously contributed to my portfolio income over the past couple of months. Dividends can be underrated but they form a large part of investment returns, playing an important role in compounding returns in the long run. As a long term investor, I favour these great dividend-paying stocks that continues to add value to my portfolio.
Sun Life Financial Inc. (TSX:SLF)
Sun Life Financial Inc., a financial services company, provides protection and wealth products and services to individuals, businesses, and institutions worldwide. Established in 1999, and now led by CEO Dean Connor, the company size now stands at 20,980 people and with the stock’s market cap sitting at CAD CA$30.80B, it comes under the large-cap group.
SLF has a good-sized dividend yield of 3.61% and is distributing 39.26% of earnings as dividends , with an expected payout of 42.48% in three years. In the last 10 years, shareholders would have been happy to see the company increase its dividend from $1.36 to $1.82. The company has been a dependable payer too, not missing a payment in this 10 year period. In the last 12 months, Sun Life Financial has experienced an earnings growth of 16.4%.
TELUS Corporation (TSX:T)
TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. Established in 1993, and currently headed by CEO Darren Entwistle, the company size now stands at 50,475 people and with the company’s market capitalisation at CAD CA$28.80B, we can put it in the large-cap stocks category.
T has a enticing dividend yield of 4.17% and has a payout ratio of 91.27% . T’s dividends have increased in the last 10 years, with DPS increasing from $0.9 to $2.02. Much to the delight of shareholders, the company has not missed a payment during this time. Over the next three years, analysts predict double digit earnings growth for TELUS of 52.2%.
Power Financial Corporation (TSX:PWF)
Power Financial Corporation provides financial services in Canada, the United States, Europe, and Asia. Established in 1940, and currently lead by Robert Orr, the company provides employment to 26,879 people and with the company’s market capitalisation at CAD CA$25.49B, we can put it in the large-cap category.
PWF has a great dividend yield of 4.63% and is distributing 55.15% of earnings as dividends . PWF’s last dividend payment was $1.65, up from it’s payment 10 years ago of $1.25. During this period, they haven’t missed a payment, as one would expect from a company increasing their dividend.
For more solid dividend payers to add to your portfolio, you can use our free platform to explore our interactive list of top dividend payers.
To help readers see pass the short term volatility of the financial market, we aim to bring you a long-term focused research analysis purely driven by fundamental data. Note that our analysis does not factor in the latest price sensitive company announcements.
The author is an independent contributor and at the time of publication had no position in the stocks mentioned.
