What is happening in Canada? If you look at the iShares MSCI Canada Index Fund (EWC) over the last year, it is up over 22%. Canada has weathered the banking crisis and housing crisis much better than the United States. Fortunately for income investors looking for diversification, our northern neighbor has over a dozen stocks with yields above 3% according the recently updated free list of top yielding Canadian stocks at WallStreetNewsNetwork.com.Royal Bank of Canada (RY) is one of Canada's major banks, based in Toronto, Ontario and yields 3.8%. Jim Cramer mentioned it on Mad Money today as a bank worth investing in and a much better alternative to British banks. The stock trades at 11.2 times forward earnings.
TransCanada Corp. (TRP) is a Calgary based oil and gas pipeline company which yields 4.4%. The stock has a forward price to earnings ration of 16.7. The stock just hit a 52 week high last Friday.
Rogers Communications Inc. (RCI), a Toronto based communications and media company, yields 3.5% and trades at 10.5 times forward earnings. It is interesting to note the the company has increased dividends every quarter since 2008.
To see a list of over 15 high yield Canada stocks, which can be downloaded, sorted, changed, and updated, go to WallStreetNewsNetwork.com.
Disclosure: Author did not own any of the above at the time the article was written.
By Stockerblog.com
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