Money TFSA Investors: 3 Great Stocks Yielding Up to 8.3%

11:45  28 january  2020
11:45  28 january  2020 Source:   fool.com

Avoid the CRA With TFSAs and RRSPs: Which One Should You Invest in First?

  Avoid the CRA With TFSAs and RRSPs: Which One Should You Invest in First? Upcoming March 2020 RRSP deadline. New $6,000 TFSA contribution room. Should you invest in your RRSP or TFSA first?About a year ago, roughly a third of Canadians didn’t know the difference between a Tax-Free Savings Account (TFSA) and a Registered Retirement Savings Plan (RRSP). That’s an alarming fact.  The TFSA has been available since 2009, and it’s about time Canadians take full advantage of both types of accounts.

Picking the right dividend stocks is critical to having a great TFSA . Here are three picks to get you started, including one that offers a double-digit yield . These short-term issues should translate into a good long-term buying opportunity for investors who load up on shares today.

Boston Pizza Royalties Income Fund (TSX:BPF.UN) and these two other dividend stocks can be great sources of income for your portfolio.

a vase filled with water: Growth from coins© Provided by The Motley Fool, Inc Growth from coins

Many investors stick growth stocks inside their TFSAs, but I prefer a different approach.

I’d rather own dividend stocks in my TFSA, for a few important reasons. If you buy and hold a growth stock for a number of years, you can easily defer taxes by continuing to hold. It makes more sense to stuff your TFSA with dividend stocks, since dividends are taxable.

It is also part of creating a dividend portfolio that can eventually support me in retirement, which is a big part of my long-term investing goals.

If you’re interested in the same sort of thing, this article is for you. Here are three excellent dividend payers that would look good in your TFSA over the long term. These are stocks that look poised to continue their payouts for years – if not decades – to come.

RRSP Investors: Enrich Your Retirement With These Growth Stocks

  RRSP Investors: Enrich Your Retirement With These Growth Stocks Kinaxis Inc. (TSX:KXS) and one other outperforming stock can add upside to a portfolio built around retirement wealth creation.However, for investors with either less time on their hands or a greater appetite for risk, picking stocks with steep upside potential can give a boost to a retirement savings plan.

Here’s are three passive-income stocks with safe payouts and the means to reward long-term shareholders with raises over the long haul. Technically, it isn’t a dividend stock ; it’s a REIT with a distribution, but I think the distribution is both safer and “growthier” than most investors would expect

If you’re looking for dividend stocks to put in your TFSA , it’s important to not only consider the yield but the Although the stock is up more than 11% year to date, investors shouldn’t rely on a whole lot of capital Telus could be a great addition for any investor that’s looking to build a dividend empire

Chorus Aviation

There are two parts to Chorus Aviation (TSX:CHR). The first, which isn’t terribly exciting, is a regional airline that operates flights for Air Canada. It generates fairly predictable cash flow, without much growth. The much more interesting part of the business is the airplane leasing division.

Here’s how it works. Chorus buys planes and then leases them back to regional airlines around the world. At the end of the lease period, Chorus is left with a plane that it can either lease again, sell, or add it to its own fleet. This business has grown by leaps and bounds since it was introduced in 2017; Chorus now has 60 planes leased to other airlines, and has agreements to lease additional aircraft to Air Canada.

In fact, Chorus is now the world’s second-largest aircraft leasing company.

RRSP Investors: 2 Top Canadian Dividend Stocks to Help Build Pension Wealth

  RRSP Investors: 2 Top Canadian Dividend Stocks to Help Build Pension Wealth Owning top dividend stocks in your RRSP can help you retire rich.The RRSP is a valuable tool for setting extra cash aside for retirement to help complement payments from employment pensions, CPP, and OAS. Contributions that are made today can be used to reduce taxable income.

My TFSA is filled with steady dividend stocks that are poised to deliver both consistent income and moderate capital gains over time. Investors shouldn’t expect crazy dividend increases until Heartland is paid for, but the stock still yields a robust 6.9% today. That’s a great payout in today’s low interest

Double down on Brookfield Renewable Partners LP (TSX:BEP.UN)(NYSE:BEP) and two other passive-income stocks .

All this growth should translate into impressive results this year, with analysts expecting the company to deliver $0.85 per share in earnings. Remember, Chorus shares trade hands at a little over $8 today, putting the company at less than 10 times forward earnings. This is also good news for the security of the company’s $0.04 per month dividend, which works out to a 5.9% yield.

Slate Retail REIT

For years now, Slate Retail REIT(TSX:SRT.UN) has traded at a far lower valuation than its peers. Although the stock is still cheap, this discount is beginning to change. If this trend continues, there’s significant upside potential.

Despite owning some of the most stable assets out there – U.S. real estate anchored by grocery stores – Slate trades for less than 9 times trailing funds from operations (FFO). Comparable REITs in Canada trade at around 15 times FFO, while similar U.S. REITs have an even higher valuation still.

TFSA Investors: Here’s How You Can Become a Millionaire This Decade

  TFSA Investors: Here’s How You Can Become a Millionaire This Decade Stocks like CAE Inc. (TSX:CAE)(NYSE:CAE) and Kinaxis Inc. (TSX:KXS) can fuel TFSA growth for years to come.The Tax-Free Savings Account was introduced in 2009 and made many fortunes in the previous decade. Many young investors dove head-first into the cannabis sector after the 2015 election, and they were rewarded with incredible gains that lasted right up until recreational legalization. Investors in technology stocks like Shopify will have also walked away with massive tax-free capital growth.

TFSA Investors : A Tax - Free 6% Yield and Big Upside Potential. If you’re in need of dividend stocks to fill your TFSA , then there’s no better time than now to go shopping. That has brought its already high yield to a whopping 10.5%, and with monthly payouts it could be a great dividend stock to hold

Adding some high- yielding dividend stocks into your TFSA is a great way to earn tax - free income over the years. The key is finding the balance between a good yield and one that’s not too high and in danger of being cut. Below are three good options to add to your portfolio that will give you a good

So, what gives?

There are two reasons for this. Firstly, Slate’s balance sheet is a little stretched. It should pay down some debt. And secondly, investors don’t like Slate’s externally managed business model. I think both of these problems will get fixed over the long term.

In the meantime, investors can collect one of the safest 8.3% dividends out there. It has a payout ratio in the 70% range, which is better than many of its peers with lower dividend yields.

National Bank of Canada

After years of underperformance, National Bank of Canada(TSX:NA) has been an all-star lately. It trounced the rest of Canada’s big banks in 2019, delivering a total return of close to 30%.

While the rest of its peers are delivering tepid earnings growth – especially from their Canadian banking operations – National Bank is doing much better. It grew total earnings by 7% in its most recent quarter, with earnings per share increasing 9% thanks to a share buyback program. The company is also seeing decent growth in its mortgage division, which has been an area of weakness for most of its peers.

TFSA Investors: 1 Canadian Growth Stock for Your Portfolio

  TFSA Investors: 1 Canadian Growth Stock for Your Portfolio Boralex stock is up 46% in the last year. Here's why the stock is poised to move higher over the long term.Boralex (TSX:BLX) is a major player in renewable energy with businesses in Canada, the United States, and France.  For the three-month period ended September 30, 2019, revenues from energy sales totaled $92 million, up to $13 million, or 16%, compared to results for the corresponding quarter of 2018.

Double down on Brookfield Renewable Partners LP (TSX:BEP.UN)(NYSE:BEP) and two other passive-income stocks .

A utility stock is often a good source of dividend income for investors looking to secure some recurring cash flow for their portfolios. However, you don’t have to settle for low yields of just 2% or 3 %, as utility stocks can sometimes offer investors some great payout options.

National Bank is also getting more serious about expanding outside Canada. Its foreign operations increased their bottom line by 28% over last year’s numbers, growing to about 10% of total earnings.

The company’s dividend, which has been raised each year for a decade now, currently yields 3.8%. With a payout ratio just over 40%, the stock is poised to continue delivering 5%–8% dividend growth annually for a long time.

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More reading

  • Is Your TFSA Ready for an Upcoming Market Crash?
  • ALERT: Avoid This 1 Bank Stock!
  • Canada Revenue Agency: 2 Smart Ways to Get the Most From Your RRSP
  • Serial Compounders: How This Company Turns $1 Into $1.20 Every Year
  • Retirees: Supplement Your Pension With These 2 Stocks!

Fool contributor Nelson Smith owns shares of SLATE RETAIL REIT and Chorus Aviation Inc.

TFSA Investors: 2 Canadian Dividend Stocks That Are the Real Deal .
Fortis Inc. (TSX:FTS)(NYSE:FTS) and Enbridge Inc. (TSX:ENB)(NYSE:ENB) are near 52-week highs but still possess solid value.Last year, I’d discussed several strategies for TFSA investors. One of those strategies involved targeting secure dividend stocks. This would allow for long-term stability and income generation.

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