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Are you looking for income? While the highest yield isn’t always the best investment, it’s a good place to start looking for income.
Based on stock prices which can move up or down depending on company news and performance, the list will change. As such, the opportunities will vary every month and that’s why it’s important to have a systematic approach to understanding which high yield stocks are an opportunity.
An opportunity can be for a stock you already own or simply for a new addition to your portfolio. It is important to note that the rankings below do not assess the viability of the business.
Top 10 Canadian High Yield Stocks
This month’s results are a snapshot in time at the time of writing and many factors could change the rankings.
Corus Entertainment
Corus (TSE:CJR.B) is a leading media and content company that creates and delivers high quality brands and content for audiences around the world. Founded in 1999 by JR Shaw, the company was built from media assets originally owned by Shaw Communications. Since its inception, Corus’ asset base has continued to grow through strategic acquisitions and a strong operating discipline. On April 1, 2016 the company acquired Shaw Media’s powerful portfolio of television brands.
Bonterra Energy Corp.
Bonterra Energy Corp. (TSE:BNE) is a high-yield, dividend paying oil and gas company headquartered in Calgary, Alberta, Canada with a proven history of creating growth and long-term value for shareholders on a per share basis. Bonterra has paid a monthly dividend (distribution) since inception and targets paying approximately 50 to 65 percent of funds flow to investors. Bonterra’s successful performance is due to its experienced management team, conservative capital structure and sustainable pace of development.
The company’s asset base consists of concentrated, stable and underdeveloped properties located across western Canada with large amounts of remaining oil still in place, a long reserve life and low-risk drilling locations. Bonterra is one of the leading operators in the Pembina Cardium, the largest reservoir in Canada and the company’s operations are currently focused on creating value through the execution of its Cardium horizontal drill program and efficient operating practices.
AltaGas
AltaGas (TSE:ALA) is a North American diversified energy infrastructure business with a focus on owning and operating assets to provide clean and affordable energy to its customers. AltaGas’ business strategy is underpinned by strong growth in natural gas supply and the growing demand for clean energy.
More than 1,600 employees across North America are focused on executing AltaGas’ strategy through three business segments: gas, power, and utilities.
Alaris Royalty Corp
Alaris Royalty Corp (TSE:AD) is a Canadian company based in Calgary, Alberta. We provide cash financing to private businesses across North America using an innovative structure which fills a niche in the private capital markets. This niche is: providing capital to successful businesses, which are in need of
This niche is: providing capital to successful businesses, which are in need of capital but are unwilling to compromise the current state of their equity ownership and operational control of the business.
Alaris provides capital to well-run, profitable private companies in exchange for a monthly cash distribution on our new preferred equity position. These distributions to Alaris are based on the yield on the original contribution, set 12 months in advance and adjusted annually based on the year over year percentage change in a “top-line” performance metric such as net sales, gross profit or same location sales. Alaris creates long-term partnerships with companies that have a proven track record of stability and profitability in varying economic conditions.
- Opportunity Score: 44%
- Stock: TSE:AD
- Sector: Financial Services
- Dividend Yield: 7.12%
- Dividend Payout Ratio: 103.18%
- Technical Trend: Technical Trend Analysis
Ensign Energy Services
Ensign Energy Services (TSE:ESI) is a global enterprise that provides a unique edge in oilfield service. We are defined by our inspired thinking; our innovative use of technology; our confident, dedicated, well-trained workforce; and our culture of achievement. We are built to serve. We deliver a superior customer experience and trusted, reliable performance.
We are among the world’s strongest, fastest-growing energy services companies. Ensign is equipped with industry leading technology and empowered by a culture of innovation and action. Our employees across the globe are united in a commitment to service. We are able to deliver safety and excellence to our customers where they need us, when they need us.
First National Financial Corporation
Over the last 25 plus years, First National (TSE:FN) has grown to become a recognized and respected leader in real estate financing. On both the residential and commercial sides of our business, FN has grown and evolved, yet have maintained true to their values – trust, honesty, transparency, delivery, ingenuity, responsiveness and partnership.
Their mortgage specialists have earned a reputation for delivering exceptional service underscored by unparalleled knowledge. That reputation is a collective one. It’s not one individual or even a group of individuals standing out from the crowd. Going beyond service is ingrained in how they do business, in how they operate, in how they innovate and in how they deliver.
- Opportunity Score: 77%
- Stock: TSE:FN
- Sector: Financial Services
- Dividend Yield: 6.89%
- Dividend Payout Ratio: 56.58%
- Technical Trend: Technical Trend Analysis
Exchange Income Fund
Exchange Income Fund (TSE:EIF) is a diversified, acquisition-oriented corporation focused on opportunities in two sectors: aviation services and equipment, and manufacturing. The business plan of the EIF is to invest in profitable, well-established companies with strong cash flows operating in niche markets.
Vermillion Energy
Vermillion Energy Inc. (TSE:VET) is a Calgary, Alberta based international oil and gas producer celebrating over 20 years of outstanding performance. Vermilion adheres to a value creation strategy through the execution of full cycle exploration and production programs focused on the acquisition, exploration, development, and optimization of producing properties in North America, Europe and Australia. Our business model targets annual organic production growth, along with providing reliable and increasing dividends to investors.
Inter Pipeline Ltd
Inter Pipeline (TSE:IPL) is a major petroleum transportation, storage and natural gas liquids processing business based in Calgary, Alberta, Canada. IPL owns and operates four business segments operating in western Canada and Europe. Our pipeline systems span over 7,700 kilometers in length and transport approximately 1.3 million barrels per day (b/d).
In Europe, IPL operates 16 strategically located petroleum and petrochemical storage terminals that have a combined storage capacity of approximately 27 million barrels. Their NGL business is one of the largest in Canada, processing an average of 3 bcf/d in 2016, with the capacity to produce over 240,000 b/d of NGL.
Capital Power Corporation
Capital Power (TSX:CPX) is a growth-oriented North American power producer headquartered in Edmonton, Alberta. The company develops, acquires, operates and optimizes power generation from a variety of energy sources.
Capital Power owns approximately 4,500 megawatts of power generation capacity at 24 facilities and is pursuing contracted generation capacity throughout North America.
Methodology
The top 10 high yield stocks identified are based on the highest yield of dividend stocks excluding REITs within the Canadian Dividend Performance List covering over 120 of the top Canadian stocks.
Please note that generating income with a high yield is a great short-term reward but it’s not without risks. Either a dividend cut is imminent or growth is limited. Make sure you look for the right stock for your portfolio and that you really understand the business you are investing in. I like to look at the Chowder Score to assess growth for both the stock appreciation and the dividend.
If you are interested in more details, the Canadian Dividend Performance List provides many more data points to help make your investment decision.
Disclosure: At the time of writing, I do not own shares of the listed stocks. See my list of holdings for a full list of holdings.
Image courtesy of David Castillo Dominici – FreeDigitalPhotos.net
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