Did you know that our neighbor to the north is the tenth wealthiest nation in the world based on Nominal GDP? It is also a net exporter of energy, one of the few developed nations in the world that can make this claim. Also, Canada has the world's second-largest proven oil reserves (Saudi Arabia is in second place).
Fortunately for income investors looking to diversify, Canada has over a dozen stocks with yields in excess of 3% according the recently updated free list of top yielding Canadian stocks at WallStreetNewsNetwork.com.
One example is Toronto Dominion Bank (TD), the second largest bank in Canada. The stock trades at 10.6 times forward earnings and pays a dividend rate of 3.4%. The bank has over 1100 branches in Canada and over 1200 branches in the US.
Another example is Rogers Communications Inc. (RCI), is a Toronto based communications and media company, which yields 4.2% and trades at 11 times forward earnings. The company has increased dividends eleven out of the last twelve quarters.
Enbridge (ENB) is a transporter and distributor of crude oil and natural gas primarily in Canada and the United States. The stock yields 2.9% and has a forward price to earnings ratio of 20. The company is even getting into the solar energy business, buying its first solar farm from First Solar (FSLR).
For a list of over fifteen high yield Canada stocks, which can be downloaded, sorted, 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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