Investors seeking consistent income may consider Canadian dividend-paying stocks. The TSX offers a variety of companies with appealing dividend yields and strong fundamentals to sustain their payouts over the long term.
In this article, we will discuss three undervalued Canadian stocks that are currently offering a minimum yield of 6%. These dividend-paying companies operate in different sectors of the Canadian economy, providing a hedge against market volatility. Additionally, with expectations of declining interest rates, now could be an opportune time to secure these high yields.
SmartCentres Real Estate Investment Trust is a well-known real estate investment trust (REIT) with a high yield of 7.7%. With durable payouts and affordability, this stock presents an attractive investment opportunity. SmartCentres REIT owns high-traffic centers with high occupancy rates, showcasing positive leasing demand and growth in rental income.
Telus is a leading Canadian telecom company facing short-term competitive and macroeconomic challenges. Despite this, the company continues to expand its customer base and deliver sustainable growth. Telus has a history of rewarding shareholders through dividends and plans to increase its dividend by 7-10% annually in the future.
Bank of Nova Scotia, or Scotiabank, is a reliable income stock trading at an attractive valuation compared to its peers. With a yield of 6.7% and a track record of dividend growth, Scotiabank offers stability and potential for income investors. The bank’s diversified revenue streams, exposure to high-growth markets, and efficiency measures contribute to its financial strength and dividend stability.
