Rocky Mountain Dealerships is one of companies that can help grow your investment income by paying large dividends. These stocks are a safe bet to increase your portfolio value as they provide both 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. Here are other similar dividend stocks that could be valuable additions to your current holdings.
Rocky Mountain Dealerships Inc. (TSX:RME)
Rocky Mountain Dealerships Inc., together with its subsidiaries, sells, leases, and provides support services for new and used agriculture and industrial equipment in Canada. Established in 1949, and run by CEO Garrett Ganden, the company currently employs 860 people and with the company’s market cap sitting at CAD CA$266.49M, it falls under the small-cap group.
RME has a good-sized dividend yield of 3.37% and is currently distributing 45.92% of profits to shareholders . Over the past 10 years, RME has increased its dividends from $0.18 to $0.46. To the enjoyment of shareholders, the company hasn’t missed a payment during this period. More detail on Rocky Mountain Dealerships here.
Ag Growth International Inc. (TSX:AFN)
Ag Growth International Inc., together with its subsidiaries, manufactures and distributes grain handling, storage, and conditioning equipment in Canada, the United States, and internationally. Established in 1996, and currently lead by Tim Close, the company now has 1,900 employees and has a market cap of CAD CA$972.14M, putting it in the small-cap category.
AFN has a good-sized dividend yield of 3.99% and the company has a payout ratio of 120.92% . AFN’s last dividend payment was $2.4, up from it’s payment 10 years ago of $1.68. They have been reliable as well, ensuring that shareholders haven’t missed a payment during this 10 year period. Over the next 12 months, analysts are predicting double digit earnings growth of 47.10%. Continue research on Ag Growth International here.
Cameco Corporation (TSX:CCO)
Cameco Corporation produces and sells uranium worldwide. Established in 1987, and currently run by Timothy Gitzel, the company employs 3,580 people and has a market cap of CAD CA$4.77B, putting it in the mid-cap category.
CCO has a decent dividend yield of 3.32% and the company currently pays out -55.02% of its profits as dividends , with analysts expecting the payout ratio in three years to be 13.06%. CCO has increased its dividend from $0.24 to $0.4 over the past 10 years. They have been reliable as well, ensuring that shareholders haven’t missed a payment during this 10 year period. CCO boasted a strong return on shareholders funds (ROE) in the last year, surpassing the CA Oil and Gas industry average of 6.55%. Continue research on Cameco 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.