Great-West Lifeco is one of our top dividend-paying companies that can help boost the investment income in your portfolio. These stocks are a safe way to create wealth as their stable and constant yields generally hedge against economic uncertainty and deliver downside protection. Dividends can be underrated but they form a large part of investment returns, playing an important role in compounding returns in the long run. Below are more huge dividend-paying stocks that continues to add value to my portfolio holdings.
Great-West Lifeco Inc. (TSX:GWO)
Great-West Lifeco Inc., a financial services holding company, engages in life and health insurance, asset management, investment and retirement savings, and reinsurance businesses in Canada, the United States, Europe, and Asia. Established in 1891, and currently lead by Paul Mahon, the company currently employs 24,300 people and with the market cap of CAD CA$34.65B, it falls under the large-cap group.
GWO has a sumptuous dividend yield of 4.19% and is distributing 58.78% of earnings as dividends . GWO’s last dividend payment was $1.47, up from it’s payment 10 years ago of $1.1. They have been consistent too, not missing a payment during this 10 year period.
Canadian Imperial Bank of Commerce (TSX:CM)
Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. Started in 1867, and now run by Victor Dodig, the company employs 44,928 people and has a market cap of CAD CA$54.34B, putting it in the large-cap category.
CM has a sumptuous dividend yield of 4.22% and pays out 45.11% of its profit as dividends , with the expected payout in three years being 47.34%. CM’s dividends have increased in the last 10 years, with DPS increasing from $3.48 to $5.2. The company has been a reliable payer too, not missing a payment during this time.
BCE Inc. (TSX:BCE)
BCE Inc., a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. Started in 1880, and now run by George Cope, the company employs 48,090 people and with the company’s market cap sitting at CAD CA$54.39B, it falls under the large-cap stocks category.
BCE has a juicy dividend yield of 4.75% and is paying out 87.65% of profits as dividends . While there’s been some level of instability in the yield, BCE has overall increased DPS over a 10 year period from $1.46 to $2.87.