Canadian Investors: 10 High Dividend Yield Stocks To Buy in 2021

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Summary

• These 10 companies have been paying regular dividends to their shareholders. 

• They would be at forefront of national economic rejuvenation post-COVID-19.

• The emerging trends would favour them to excel higher in their respective businesses.

Canadians who prefer to bet on safe assets but also want regular income from their investments, then these ten companies might be the ones you are looking for.

These companies have varied businesses, from health care, financial management to oil and gas exploration, and they pay regular dividends to their shareholders.

Despite the weight of the pandemic, a once-in-a-lifetime experience for many, they were able to hold their fort and save some profits, which made them stand out among the rest. These are also some of the businesses that will be at the forefront of the economic rejuvenation post-COVID-19.

Here is a brief look at the companies and what are their areas of expertise.

Labrador Iron Ore Royalty Corp (TSX:LIF)

This Canadian metal and mining company earns its revenues from equity investments and commissions. It holds major states in the Iron Ore Company of Canada (IOC).

The mining stock was trading at C$37.54 apiece at close on Wednesday. Its value rose by 14 per cent and 50 per cent in the past month and three months, respectively.

The Labrador company pays a quarterly dividend C$1.80 per share and yields 19.53 per cent.

In its third quarter ended September 30, 2020, the company reported revenues of C$52.4 million, up by 15 per cent year-over-year. The net income was C$57.7 million, or C$0.90 per share.

The mining company has a market cap of C$1.8 billion.

Keyera Corp (TSX:KEY)

This Canadian gas exploration company produces and markets natural gas products. It has 15 natural gas plants and runs a network of gas pipelines covering around 5,000 km.

Keyera stocks were traded at C$25.43 per share on Wednesday. It gained around 2 per cent in the past 30 days and 9 per cent in three months.

The gas company pays a quarterly dividend of C$0.16. The dividend yield stands at 7.7 per cent per share.

In its fourth quarter 2020, it posted revenues of C$168 million. Its full-year revenues were C$874 million, which was a decline of 7 per cent year-over-year.

The market cap is C$5.6 billion.

Enbridge Inc (TSX:ENB)

This natural gas and renewable energy company runs its operations in the US and Canada.

Enbridge stocks were trading at C$44.70 per share on Wednesday. It advanced by about 2 per cent in the past one month and ~8 per cent in the past three months.

The company pays a quarterly dividend of C$0.835 and yields 7.46 per cent per share.

Its adjusted earnings were C$4.9 billion, or C$2.42 per share, in 2020, compared with C$5.3 billion or C$2.65 per common share in 2019.

Enbridge has a market cap of C$90 billion.

Extendicare Inc (TSX:EXE)

This health care company runs retirement homes or care facilities for old-age people in Canada.

The health care stock was priced at C$6.59 at close on Wednesday. It gained 6 per cent in the last 30 days but dropped 5 per cent in the past three months.

Extendicare pays a quarterly dividend of C$0.04 and yields 7.43 per cent per share.

In its Q3 2020, its revenues were up around 10 per cent to C$296.8 million due to increased business during the COVID pandemic.

The health care company has a market cap of C$584 million.

Pembina Pipeline Corp (TSX:PPL)

Pembina Pipeline’s dividend yield is 7.22 per cent. It is a Canadian energy company and runs its operation in western Canada and North Dakota in the US. It runs a pipeline network of over 9,000 km.

This energy stock was priced at C$35.18 at close on Wednesday. Its value remained flat over the past one month but saw around a three per cent increase in the past three months.

The company pays a quarterly dividend of C$0.21.

In Q3 ended September 30, 2020, it reported revenues of C$318 million which was a decline of 14 per cent compared to the same period a year ago.

Pembina has a market cap of C$19 billion.

@Kalkine Image 2021

Sienna Senior Living Inc (TSX:SIA)

Sienna Senior is another Canadian health care company involved in providing care facilities for senior citizens. The Ontario-based company provides various care and medical services.

This stock was priced at C$14.04 on Wednesday. It gained around 3 per cent in one month and about 2 per cent in the past three months.

It pays a quarterly dividend of C$0.078 and yields 6.94 per cent.

In Q4 ended December 31, 2020, it reported a revenue decline of 0.2 per cent to C$168.8 million.

Its net loss was C$8.7 million.

The company has a market cap of C$927 billion.

Gibson Energy Inc (TSX:GEI)

This energy company operates in Canada and the US. The company deals in crude oil, asphalt, and petroleum, among other products. It runs oil terminals, pipelines, and rail loading facilities.

Gibson shares were traded at C$21.98 per share on Wednesday. Its value rose by 9 per cent and 3 per cent in the last 30 days and three months, respectively.

The company pays a quarterly dividend of C$0.35. The dividend yield is 6.59 per cent.

Its total revenues in 2020 stood at C$299 million, a decrease of 1 per cent YoY. The fourth-quarter revenues were C$54 million.

Gibson has a market cap of C$3.1 billion.

IGM Financial Inc (TSX:IGM)

IGM is Canada’s largest non-bank-affiliated asset manager that provides investment products and services. Its main divisions are Investors Group and Mackenzie Financial.

IGM stock was traded at C$35.41 at close on Friday. It gained around 1.5 per cent in the past month and dropped around 2.5 per cent in the past three months.

The company pays a quarterly dividend of C$0.563 and yields 6.488 per cent.

In Q4 ended December 31, 2020, it reported net earnings of C$229.1 million or 96 cents per share. It has a market cap of C$8.4 billion.

BCE Inc (TSX:BCE)

BCE is one of Canada’s largest wireless and internet service providers for various services, including television and landline phones. It has 10 million customers.

The stock holds a dividend yield of 6.373 per cent.

The stock was priced at C$54.81 at close on Wednesday. It was trading flat over the past one month but declined 3 per cent in value in the three months.

The company pays a quarterly dividend of C$0.875.

In Q4 ended December 31, 2020, its net earnings rose 28.9 per cent to C$932 million.

BCE has a market cap of C$49 billion.

TC Energy Corp (TSX:TRP)

This oil and gas company runs infrastructure and power generation projects in Canada, the US, and Mexico. It also owns extensive pipelines for oil and gas supplies.

TC stocks were priced at C$56.16 per share on Wednesday. The stock is trading flat for the past 30 days, but its value dropped 4 per cent in the past three months.

The pays a quarterly dividend of C$0.87 and yields 6.2%.

In Q4 ended December 31, 2020, TC Energy net income of C$1.1 billion, or C$1.20 per share.

TC Energy has a market cap of C$52 billion.