The TSX-listed Canadian dividend stocks we’ve discovered have yields over 4% and are benefiting from a stronger U.S. dollar
SmallCapPower | July 25, 2022: During periods of elevated stock-market uncertainty, risk is mitigated through low volatility stocks with steady dividends. Today we have uncovered three Canadian dividend stocks with yields over 4% that are benefiting from a stronger U.S. dollar.
*Share price data and other metrics as of July 22, 2022
Enbridge Inc. (TSX:ENB) – $55.29
Oil and Gas
Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The Company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company. Finally, the firm has a small renewables portfolio primarily focused on onshore and offshore wind projects.
- Market Cap: $86.9B
- 7-Day Return: +2.9%
- 30-Day Return: +2.0%
- 30-Day Average Trading Volume: 5,624,074
- Dividend Yield: 6.2%
Toronto-Dominion Bank (TSX:TD) – $82.24
Financial Services
Toronto-Dominion is one of Canada’s two largest banks and operates three business segments: Canadian retail banking, U.S. retail banking, and wholesale banking. The bank’s U.S. operations span from Maine to Florida, with a strong presence in the Northeast. It also has a 13% ownership stake in Charles Schwab.
- Market Cap: $115.5B
- 7-Day Return: 4.9%
- 30-Day Return: -3.3%
- 30-Day Average Trading Volume: 8,270,253
- Dividend Yield: 4.3%
Manulife Financial Corporation (TSX:MFC) – $22.60
Financial Services
Manulife Financial provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada’s Big Three life insurance companies (the other two are Sun Life and Great West Life). As of December 31, 2021, Manulife reported assets under management or administration of about C$1.4 trillion.
- Market Cap: $33.2B
- 7-Day Return: +2.6%
- 30-Day Return: +1.5%
- 30-Day Average Trading Volume: 6,225,959
- Dividend Yield: 5.8%
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