Top 20 Dividend Stocks – March 2014

Top Dividend Stocks

It has been a while since I shared my top 20 dividend stocks and it’s time to have a look at who is at the top. It’s a mix between Canadian and US companies as I believe every Canadians should hold some good US companies for a diversified portfolio.

If you want to get access to some quick stock research on a technical front, try one of the services below. It’s free and you get technical trends by email.

Top 20 Dividend Stocks – Technical Screening

My technical screening system has provided me with some good trends over time. Since the markets continue to fluctuates and move in whatever direction the wind blows, I am pleased to see the bargain stocks move up to the top of the list.

My value screening continues to work well for my investment filtering. It’s usually a good indicator into the stocks I should pay close attention. Note that those stocks are not always at the bottom of their range.

Related: Benefits of Partial Buy or Sell

You may find the range to be wider than necessary but it’s required to have more stocks in the screener to compare. I need to be able to see more stocks in order to compare as trends can come into play. That’s why the end value is normalize to 1 in order to weight each criteria effectively. I don’t buy purely from the filter but it does indicate stocks to be on the look out for. Sometimes a dividend increase will give a boost and in other cases, it’s the lower stock price.

I updated my filter to include a Dividend Aristocrat multiplier to surface their exemplary record.

  • P/E : Target is 15
  • 52 Week Range : The lower in the range the higher the score for an entry point
  • Yield : Normalized up to 6% (this one is manual)
  • Payout Ratio : Between 25% and 65%
  • Market Cap : Bonus multiplier with a target of $20B or more (+/- 10%). I normalize it between 0.9 and 1.1 and use that to multiply my previous total of the first 4 criteria.
  • Liability-to-Equity Ratio : Anything below 1.00 gets a full score and it goes down from there.
  • Dividend Aristocrat Multiplier : A dividend aristocrat receives a multiplier for its historical performance.
The double star (**) highlights a US Dividend Aristocrat and the single star (*) indicates a Canadian Dividend Aristocrat.
TickerCompanyQuoteP/EEPSMarket CapDividendYieldPayout RatioValue Metric
T** AT&T$32.989.693.40171.72$0.465.58%0.540.98
CWT.UNCalloway REIT$25.863.746.923.46$0.12915.99%0.220.96
NA.TONational Bank$43.859.674.5314.35$0.464.20%0.410.92
RCI.B* Rogers$43.5213.493.2322.40$0.45754.20%0.570.84
MRU.TO* Metro$63.108.707.255.55$0.251.58%0.140.84
CBChubb Corporation$86.969.509.1621.32$0.442.02%0.190.83
CJR.B* Corus Entertainment$24.387.933.072.07$0.073.45%0.270.82
TCK.BTeck Resources$23.5214.161.6613.55$0.453.83%0.540.79
WMT** Wal-Mart$74.7715.414.85242.40$0.472.51%0.390.78
IBMIBM Corporation$186.8112.4015.07194.53$0.952.03%0.250.78
CINF** Cincinnati Financial Corp$47.4215.173.137.75$0.413.46%0.520.74
XOM** Exxon Mobile Corp$94.7112.857.37409.26$0.632.66%0.340.73
STXSeagate Technology$51.9311.634.4717.07$0.433.31%0.380.73
LB.TOLaurentian Bank$45.9211.553.981.32$0.494.27%0.490.72
GWO.TOGreat West Life$30.4213.062.3330.40$0.314.08%0.530.71
KO** Coca-Cola$38.4020.181.90169.19$0.3053.18%0.640.71
FTS.TO* Fortis$31.4219.281.636.70$0.324.07%0.790.71

Top 20 Dividend Stocks – Dividend Yield

This section is either highlighting the income stocks or the red flag stocks. Either way, it’s good to look at them this way. TransAlta is still present even after reducing their dividends.

TickerCompanyQuoteP/EEPSMarket CapDividendYieldPayout RatioValue Metric
AGF.B* AGF Management$11.8446.7425.00%1.02$0.279.12%432.00%0.27
LIQ.TOLiquor Store Income Fund$11.8515.3577.00%0.27$0.099.11%140.26%0.40
EIF.TOExchange Income Fund$20.8149.5742.00%0.44$0.148.07%400.00%0.26
RSI.TORogers Sugar$4.5113.0235.00%0.42$0.097.54%97.14%0.43
KMPKinder Morgan Energy$73.5719.36380.00%32.62$1.327.18%138.95%0.39
BA.TOBell Alliant$26.549.00295.00%2.69$0.487.16%64.41%0.61
AX.UNArtis REIT$15.746.81231.00%2.11$0.096.86%46.75%0.59
CPG.TOCrescent Point Energy$40.4278.87$0.1416.02$0.236.83%1971.43%0.07
COS.TOCanadian Oil Sand$22.0712.83$1.7210.69$0.356.34%81.40%0.20
KEG.UNThe Keg Royalty Income Fund$15.9825.9162.00%0.18$0.086.01%154.84%0.23
CWT.UNCalloway REIT$25.863.74692.00%3.46$0.135.99%22.39%0.96
PBH.TOPremium Brands Holding Corp$21.7736.5160.00%0.48$0.315.70%206.67%0.43
MBT.TOManitoba Telecom$29.92#N/A-124.00%2.31$0.435.68%-137.10%#N/A
HR.UNH&R REIT$22.6212.09187.00%6.11$0.115.64%68.20%0.62
T** AT&T$32.989.69340.00%171.72$0.465.58%54.12%0.98
ENF.TO* Enbridge Income Fund$25.8016.61155.00%1.46$0.115.33%88.72%0.44
KMIKinder Morgan Inc$31.5627.31$1.1632.53$0.415.20%141.38%0.57

If you are researching stocks, here are posts I have written to help others do their own research:

Readers: Any surprises in the list?

Disclaimer: I own a number of stocks listed, see my holdings in the Dividend Income section for a full list.

Disclaimer: Please note that this blog post represents my opinion and not an advice/recommendation. I am not a financial adviser, I am not qualified to give financial advice. Before you buy any stocks/funds consult with a qualified financial planner. Make your decision at your own risk – see my full disclaimer for more details.

Image: renjith krishnan /

6 Responses to "Top 20 Dividend Stocks – March 2014"

  1. Great list! I am a huge believer in targeting stocks with great dividend rates. I didn’t realize AT&T’s yield was so high. I usually just stick to REITs but that rate rivals even those.

    1. @The Caveman

      Do you only have REITs in your portfolio? No interest in diversifying or do you need the income? I have just a 10% target of REITs in my portfolio. Although the yield is good, the stock appreciation is usually poor compared with other stocks.

  2. I know KMI is getting crushed right now but I think after the knife is done falling it will be a good bargain dividend to pick up. I have also been looking at AT&T for quite some time but have been waiting for a market pull back before pulling the trigger.

  3. EIT.UN — Canoe Financial. Sells for a massive discount from NAV, has excellent volumes, blue chip holdings, and a payout over 9%. I cannot for the life of me understand why it is selling for so little.


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