One of the best paying dividend stock on our list is Rocky Mountain Dealerships. Dividend stocks are a great way to hedge your portfolio as they provide both steady income and cushion against market risks Dividends play a key role in compounding returns over time and can form a large part of our portfolio return. Today I will share with you my best paying dividend shares you should be considering for your portfolio.
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. Founded in 1949, and currently headed by CEO Garrett Ganden, the company provides employment to 860 people and with the company’s market capitalisation at CAD CA$270.80M, we can put it in the small-cap stocks category.
RME has a wholesome dividend yield of 3.27% and their payout ratio stands at 45.92% . RME’s DPS have risen to $0.46 from $0.18 over a 10 year period. Much to the delight of shareholders, the company has not missed a payment during this time.
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. Formed in 1996, and currently run by Tim Close, the company size now stands at 1,900 people and with the market cap of CAD CA$872.14M, it falls under the small-cap group.
AFN has a sumptuous dividend yield of 4.44% and pays 120.92% of it’s earnings as dividends . AFN has increased its dividend from $1.68 to $2.4 over the past 10 years. The company has been a reliable payer too, not missing a payment during this time. If analysts are correct, Ag Growth International has some strong future growth on the horizon with an expected increase in EPS of 99.35% over the next three years.
Cameco Corporation (TSX:CCO)
Cameco Corporation produces and sells uranium worldwide. Founded in 1987, and headed by CEO Timothy Gitzel, the company size now stands at 3,580 people and has a market cap of CAD CA$5.07B, putting it in the mid-cap category.
CCO has a nice dividend yield of 3.19% and the company has a payout ratio of -55.02% , with analysts expecting a 13.20% payout in three years. The company’s DPS has increased from $0.24 to $0.4 over the last 10 years. They have been dependable too, not missing a single payment in this time. Over the past 12 months, CCO’s ROE of -5.55% outperformed the CA Oil and Gas industry, which averaged a 6.78% return.
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.