Get US Dividends From Canadian Stocks

Get US Dividends from Canadian StocksGetting US dividends from Canadian stocks is a lot simpler than you may think even if you feel the US dollar is expensive. The strategy is simple with the right discount broker.

Why Get US Dividends from Canadian Stocks?

As a Canadian, it’s very important to realize how small our economy is. While it is a good economy, it is a small one and it is mostly focused on financial and energy blue chip stocks. It is acceptable to be proud of it but as an investor, you want to be objective and realize that you need exposure to other economies. You may choose to do it through indexes but personally, I do it by buying US companies. One key factor to buy US companies is that you need US dollars. The currency exchange rate may seem prohibitive at times but that doesn’t have to be the case.

Related: Currency Exchange with DLR and DLR.U ETF

There was a time when the Canadian dollars was at parity and it was a good time to just buy US companies. With the currency exchange, there is a ‘value’ blocker that all Canadian investors need to get over. Aside from exchanging currencies using your favorite method, you can start earning US dividends by holding Canadian stocks on a US exchange. There are many large public corporations in Canada that also trades on the New York Stock Exchange (NYSE) allowing you to earn US dividends. The dividend is also eligible for Canadian dividends since it is distributed by a Canadian company. The shares can be moved between the TSX and the NYSE through a process called journalling so you can buy them in Canadian dollars, move the shares over to the NYSE and then earn US dividends.

48 Canadian Dividend Stocks Cross Listed On NYSE

Building a cash flow in US dollars isn’t out of your reach and you can do it with your Canadian dollars. This list of companies below comes from the CDN Dividend Performance list. There might be others, but I consider those the companies worth paying attention to and some of them are the safest Canadian dividend stocks. As you can see, there are many options to earn US dividends and put it to work towards a US investment.

While all of the companies below are cross-listed stocks, not all of them declared in US dollars. Those that pay in US dollars will provide you with the expected dividend yield when held in a US account. Holding a Canadian stock on a US exchange that pays in Canadian currency will, unfortunately, trigger a currency exchange.

17 US Dollar Dividend Payers

These companies will pay the expected dividend rate in US dollars. Just buy them on the Canadian side and journal them on the US account and it will start paying US dividends. Slowly, you will build your US cash account to buy US holdings without incurring a currency exchange.

ABX - Barrick Gold

Barrick Gold Corp

TSE:ABX

AEM - Agnico Eagle Mines Limited

Agnico Eagle Mines Ltd

TSE:AEM

 AQN - Algoquin Power & Utilities Corp

Algonquin Power & Utilities Corp

TSE:AQN

ECA - Encana

Encana

TSE:ECA

BAM - Brookfield Asset Management

Brookfield Asset Management

TSE:BAM.A

BAM - Brookfield Asset Management

Brookfield Renewable Partners LP

TSE:BEP.UN

BAM - Brookfield Asset Management

Brookfield Infrastructure Partners LP

TSE:BIP.UN

BAM - Brookfield Asset Management

Brookfield Property Partners LP

TSE:BPY.UN

FNV - Franco-Nevada Corp

Franco-Nevada Corp

TSE:FNV

G - Goldcorp Goldcorp

TSE:G

 

 GIL - Gildan Activewear Inc.

Gildan Activewear Inc

TSE:GIL

MX - Methanex Corp Methanex Corporation

TSE:MX

MG - Magna InternationalMagna International Inc

TSE:MG

PAAS - Pan American Silver CorpPan American Silver Corp

TSE:PAAS

 POT - Potash CorpPotash Corporation

TSE:POT

 TRI - Thomson ReutersThomson Reuters Corp

TSE:TRI

WPM - Wheaton Precious Metals Corp

Wheaton Precious Metals Corp

TSE:WPM

   

30 Canadian Dollar Dividend Payers

These Canadian companies also trade on a US exchange and declare their dividend in Canadian dollars. When holding them on a US exchange, the Canadian dividend will be converted to US currency. You still can earn US dollars but you could also just earn Canadian dividend and wait to exchange once you have enough.

BCE

BCE

TSE:BCE

BMO - Small

BMO

TSE:BMO

BNS - Scotia Bank

BNS

TSE:BNS

CAE - CAE Inc

CAE Inc

TSE:CAE

CCO - Cameco Corp

Cameco Corp

TSE:CCO

CM - CIBC

CIBC

TSE:CM

 CNR - Canadian National Railway

Canadian National Railway

TSE:CNR

 CNQ - Canadian National Resources

Canadian Natural Resources

TSE:CNQ

 CP - Canadian Pacific Railway

Canadian Pacific Railway

TSE:CP

CPG - Crescent Point Energy

Crescent Point Energy

TSE:CPG

CVE - Cenovus Energy

Cenovus Energy

TSE:CVE

ENB - Enbridge

Enbridge

TSE:ENB

ERF - EnerPlus

Enerplus Corp

TSE:ERF

FTS - Fortis

Fortis

TSE:FTS

IMO - Imperial Oil

Imperial Oil

TSE:IMO

MFC - Manulife

Manulife

TSE:MFC

PPL - Pembina Pipeline

Pembina Pipeline

TSE:PPL

RBA - Ritchie Bros Auctioneers Inc

Ritchie Bros. Auctioneer

TSE:RBA

 RCI.B - Rogers

Rogers Communication

TSE:RCI.B

RY - Royal Bank

Royal Bank of Canada

TSE:RY

SJR.B - Shaw Communications

Shaw Communications

TSE:SJR.B

SLF - Sun Life Financial

Sun Life Financial

TSE:SLF

STN - Stantec

Stantec Inc

TSE:STN

SU - Suncor Energy

Suncor Energy

TSE:SU

TA - TransAlta

TransAlta

TSE:TA

 TD - Small

TD Bank

TSE:TD

 TECK.B - Teck Resources

Teck Resources

TSE:TECK.B

 TRP - TransCanada Pipeline

TransCanada Corporation

TSE:TRP

T - Telus - Small Telus

TSE:T

VET - Vermilion Energy

Vermilion Energy

TSE:VET

 

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