The· S & P / TSX Comprehensive Index It returned strongly on January 28, rising 232 points. Still, the North American index has entered a new period of volatility to start 2021. The enthusiasm of individual investors has stimulated the momentum of US equities: GameStop And AMC Entertainment.. Today, I would like to find a more stable dividend stock that is worth hiding in the long run. These currently offer stability, income and attractive value.
Why Manulife is one of the best dividend stocks on TSX
Manulife Financial (TSX: MFC)(NYSE: MFC) Still one My favorite dividend stock With TSX. It is one of Canada’s largest insurance and financial services companies. Its share has decreased by 7.2% year-on-year as of the closing price on January 28th.
The company plans to announce its fourth quarter and full year results for 2020 on February 11. In the third quarter of 2020, Manulife reported a core profit of $ 1.6 billion. This is down 6% from the third quarter of 2019. Global WAM outflows have shrunk to $ 2.2 billion compared to the previous year’s $ 4.4 billion outflow. In addition, Manulife continues to achieve promising market penetration in the Asian region.
The shares of this dividend stock have a very attractive price-earnings ratio (P / E) of 8.9 and a price-to-book value ratio (P / B) of 0.9. Manulife offers a quarterly dividend of $ 0.28 per share. This represents a solid 4.7% yield.
Don’t sleep on this bank stock that offers big income
Canadian Imperial Bank of Commerce (TSX: CM)(NYSE: CM) It is the fifth largest bank in Canada’s Big Six Banks. It is also one of the most powerful dividend stocks available on TSX. CIBC’s share has increased by 15% in the last three months. Investors can expect results for the first quarter of 2021 to be in late February.
Banks provided some promising news in the fourth quarter and full year of 2020. CEO Victor Dodig said client applications recovered from low levels in early 2020 and are now growing. CIBC’s adjusted earnings per share was $ 2.79, a slight decrease from $ 2.84 in the previous year. This exceeded analysts’ expectations.
The final price-earnings ratio for this dividend stock was 13, with a price-earnings ratio of 1.3. In addition, CIBC offers a quarterly dividend of $ 1.46 per share. This represents a high yield of 5.3%.
This top dividend stock provides exposure to the green energy space
TransAlta Renewables (TSX: RNW) This is the last dividend stock I want to see today.This week I explained why Canadians should look to get involved Green energy revolution.. The company develops, owns and operates renewable energy power generation facilities.
In the third quarter of 2020, TransAlta’s equivalent EBITDA reached $ 96 million, up 12% year-on-year. Meanwhile, adjusted operating capital (AFFO) was up 10% to $ 76 million. In December, the company announced the acquisition of two wind farms and one cogeneration facility. Investors can expect the company’s fourth-quarter and full-year results in late February.
TransAlta offers a monthly dividend of $ 0.078 per share. This corresponds to a yield of 4.2%.
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