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Canadian penny stocks are quite popular among investors because of their massive returns, despite the high-risk factor. Here are five penny stocks from the Toronto Stock Exchange (TSX) and TSX Venture (TSXV) that are distributing dividends to their shareholders along with positive one-year growth:
1. Diversified Royalty Corp. (TSX:DIV)
The corporation acquired diverse businesses across North America and generates its profits from royalty and management fees. It has a market cap of C$ 308 million, and its present stock price is C$ 2.54*.
The royalty firm pays a monthly dividend of C$ 0.017 per common share. It has an attractive dividend yield of 7.876 per cent and paid out consistent dividends in 2020 despite the pandemic-led stock market crash.
The dividend-paying stock has returned 37.30 per cent in one year and improved by nearly 7 per cent year-to-date (YTD).
2. Tree Island Steel Ltd. (TSX:TSL)
The steel manufacturer offers bulk nails, concrete reinforcing mesh, stucco reinforcing products, and other fabricated wire products. Its market cap is C$ 82 million, and the current share price is C$ 2.88*.
The metal firm distributes a quarterly dividend worth C$ 0.03 per piece along with a lucrative dividend yield of 4.167 per cent. It has an astonishing 5-year dividend growth of 23.30 per cent.
The stock is up almost 96 per cent in the past one year. Its share price has gained momentum recently, with a surge of 17.55 per cent month-to-date (MTD).
3. Hampton Financial Corporation (TSXV:HFC)
The financial services provider has operations in the following segments: asset management, capital markets, and institutional services across Canada.
The corporation holds a quarterly dividend of C$ 0.20 for each Class A preferred share. It has a micro-market cap of C$ 4.3 million and a return on equity of 129 per cent.
The diversified investment firm has yielded 92.85 per cent this year. Its current share price is C$ 0.27*.
Source: Kalkine Group @2021
4. Input Capital Corp (TSXV:INP)
The agriculture commodity streaming company acquires canola oil from farmers through contracts and provides working capital in return.
The consumer package food producer has a current market cap of C$ 48.30 million and stock price of C$ 0.91*.
It will deliver a quarterly dividend of C$ 0.01 per common share for the current quarter. Input stock has a dividend yield of 4.396 per cent. It is up 62 per cent in one year.
5. Newport Exploration Ltd (TSXV:NWX)
This metal and mining company acquires and explores resource sites across Canada and Australia. Its market cap is C$ 53.84 million, and the current share price is C$ 0.51.
Its quarterly dividend stands at C$ 0.01 per share, with a favorable dividend yield of 7.843 per cent. The basic material stock’s return on equity is 77.68 per cent.
Its one-year return has swelled more than 59 per cent and risen 4 per cent YTD.
*Details before markets open on March 18, 2020
The above constitutes a preliminary view and any interest in stocks should be evaluated further from an investment point of view.
