Are you having trouble evaluating dividend income from the Canadian stock market these days? Fortunately, there are some rough diamonds left. In fact, in a diverse set of industries, you can always unlock attractive combinations of income and growth. Here are five high dividend stocks that trade for less than $ 30 per share, but they all trade with a dividend yield of 3.5% or more.
A recovering Canadian technology stock
Often times, we don’t correlate income with Canadian tech stocks. Yet that’s what makes Sylogist (TSX: SYZ) single. Today, that stock is trading at around $ 14 per share. It pays an attractive dividend of 3.5%. Sylogist provides essential software solutions for public institutions such as school districts, governments and non-profit organizations.
She just completed a strategic review and transformed her management team. As a result, he is now focusing on organic and acquisitive growth opportunities in his business universe. This Canadian stock has an excellent, cash-rich balance sheet, a stable recurring income base, and it produces a ton of free cash flow. I think Sylogist is in the early stages of a growth-oriented turnaround, so now it’s an attractive entry point.
A leading Canadian REIT
For a Canadian real estate action, Dream industrial REIT (TSX: DIR.UN) seems very well positioned today. The stock costs just $ 14.70 per unit and is trading with a very good dividend of 4.75%.
Dream Industrial has warehousing, logistics and distribution properties in Canada, the United States and Europe. Favorable winds in e-commerce and economic recovery are supporting strong growth in rental rates and rising asset values.
Dream has just acquired a very attractive industrial portfolio in Europe. This should fuel expansion opportunities there. Compared to its Canadian and European peers, this stock is trading at a discount, so I still think it’s an attractive buy today.
An energy infrastructure park in the making
Last year, Topaz Energy (TSX: TPZ) was created from one of Canada’s largest and most efficient natural gas producers, Tourmaline Oil. It is a way of playing with the pickaxe and the shovel to play the rise of the energy markets. Topaz generates a very consistent contractual revenue stream from both land royalties and natural gas infrastructure assets. The company is zenithal (only four employees), it therefore systematically generates a free cash margin of 90%!
Yet, as the demand for natural gas increases, Topaz benefits from increased production volumes through its assets. This Canadian stock has an excellent low leverage balance sheet, so it also has a significant capacity to continue to develop its asset base. The stock costs around $ 17 per share, but it pays a large and growing 5% dividend.
A strong Canadian stock of utilities
A greener stock of energy to own in the long term is Algonquin energy (TSX: AQN) (NYSE: AQN). This stock suffered a temporary impact on its earnings due to the shutdown of some power assets during the extreme winter weather event in Texas in February. However, this is a really great and diverse utility to own.
The company is working on an ambitious $ 9.4 billion investment plan that is expected to increase earnings per share growth by 8-10% over the next five years. On top of that, it also has a new 3,400 MW renewable energy pipeline that could provide an additional boost. The stock is trading around $ 19.50 per share today and pays a 4.3% dividend. It is a strong Canadian stock that offers security, growth and income.
A telecom with long-term potential
Recently, Telus (TSX: T) (NYSE: TU) is a great core dividend-paying stock for every Canadian’s portfolio. Telus has historically dominated the market for new net customers and ranks among the best quality networks in the world. Recently, Telus increased its 2021 capital spending to expand the deployment of its fiber optic networks. Not only will this also help enable its implementation of 5G technology, but it will significantly boost annual EBITDA growth.
Telus is also rapidly becoming a leader in various digital verticals. It’s just an IPO Telus International, a digital customer experience company. Likewise, Telus Health and Telus Agriculture are becoming important companies in their own right. Telus is only trading for $ 27.50, but investors are getting an excellent 4.6% dividend and a rise as these verticals mature.
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This article represents the opinion of the author, who may disagree with the âofficialâ recommendation position of a Motley Fool premium service or advisor. We are straight! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer, so we post sometimes articles that may not conform to recommendations, rankings or other content. .
Foolish contributor Robin brown owns shares of Dream Industrial REIT, Tourmaline Oil, Algonquin Power, Telus and Telus International. The Motley Fool recommends DREAM INDUSTRIAL REIT, TELUS CORPORATION and Topaz Energy Corp.