Dividend-paying companies such as Bank of Nova Scotia and Toronto-Dominion Bank can help grow your portfolio income through their sizeable dividend payouts. Great dividend payers create a safe bet to increase investors’ portfolio value as payouts provide steady income and cushion against market risks A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. Below are more huge dividend-paying stocks that continues to add value to my portfolio holdings.
The Bank of Nova Scotia (TSX:BNS)
The Bank of Nova Scotia provides various financial services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. Established in 1832, and headed by CEO Brian Porter, the company employs 89,755 people and with the company’s market cap sitting at CAD CA$94.64B, it falls under the large-cap group.
BNS has a enticing dividend yield of 4.14% and their payout ratio stands at 45.30% , and analysts are expecting the payout ratio in three years to hit 45.91%. In the last 10 years, shareholders would have been happy to see the company increase its dividend from CA$1.88 to CA$3.28. The company has been a dependable payer too, not missing a payment in this 10 year period. Dig deeper into Bank of Nova Scotia here.
The Toronto-Dominion Bank (TSX:TD)
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. Formed in 1855, and now run by Bharat Masrani, the company provides employment to 83,160 people and with the stock’s market cap sitting at CAD CA$139.03B, it comes under the large-cap group.
TD has a decent dividend yield of 3.17% and has a payout ratio of 33.01% , with analysts expecting the payout ratio in three years to be 42.59%. TD has increased its dividend from CA$1.18 to CA$2.40 over the past 10 years. The company has been a reliable payer too, not missing a payment during this time. Continue research on Toronto-Dominion Bank here.
Royal Bank of Canada (TSX:RY)
Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. Founded in 1864, and now led by CEO David McKay, the company now has 78,648 employees and with the company’s market cap sitting at CAD CA$145.72B, it falls under the large-cap category.
RY has a sizeable dividend yield of 3.61% and has a payout ratio of 46.72% . The company’s dividends per share have risen from CA$2.00 to CA$3.64 over the last 10 years. The company has been a dependable payer too, not missing a payment in this 10 year period. Continue research on Royal Bank of Canada here.
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.