Pure Industrial Real Estate Trust, Power of Canada, and Fortis have one big thing in common. They are on my list of the best dividend stocks which have generously contributed to my portfolio income over the past couple of months. A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. As a long term investor, I favour these great dividend-paying stocks that continues to add value to my portfolio.
Pure Industrial Real Estate Trust (TSX:AAR.UN)
Pure Industrial Real Estate Trust is an unincorporated, open-ended investment trust that owns and operates a diversified portfolio of income-producing industrial properties in leading markets across Canada and key distribution and logistics markets in the United States. Started in 2007, and currently run by Kevan Gorrie, the company employs 50 people and with the company’s market capitalisation at CAD CA$2.46B, we can put it in the mid-cap group.
AAR.UN has a decent dividend yield of 3.87% and is distributing 29.21% of earnings as dividends , with analysts expecting this ratio in three years to be 52.50%. In the case of AAR.UN, they have increased their dividend per share from CA$0.30 to CA$0.31 so in the past 10 years. They have been consistent too, not missing a payment during this 10 year period. Pure Industrial Real Estate Trust’s earnings per share growth of 101.62% outpaced the ca reits industry’s 19.79% average growth rate over the last year. More detail on Pure Industrial Real Estate Trust here.
Power Corporation of Canada (TSX:POW)
Power Corporation of Canada operates as a diversified international management and holding company with interests primarily in the financial services, sustainable and renewable energy, asset management, communications, and other business sectors in North America, Europe, and Asia. Established in 1925, and now run by Paul Desmarais, the company currently employs 30,484 people and has a market cap of CAD CA$13.84B, putting it in the large-cap category.
POW has a substantial dividend yield of 4.91% and is currently distributing 50.87% of profits to shareholders . POW’s dividends have increased in the last 10 years, with DPS increasing from CA$0.96 to CA$1.43. They have been consistent too, not missing a payment during this 10 year period. Dig deeper into Power of Canada here.
Fortis Inc. (TSX:FTS)
Fortis Inc. operates as an electric and gas utility company in Canada, the United States, and the Caribbean. Formed in 1885, and now led by CEO Barry Perry, the company provides employment to 8,534 people and with the stock’s market cap sitting at CAD CA$18.40B, it comes under the large-cap stocks category.
FTS has a good-sized dividend yield of 3.90% and is paying out 70.11% of profits as dividends . FTS has increased its dividend from CA$1.00 to CA$1.70 over the past 10 years. Much to the delight of shareholders, the company has not missed a payment during this time. Interested in Fortis? Find out more here.
For more solid dividend paying companies to add to your portfolio, explore this interactive list of top dividend payers.