To Get More Yield From Your Savings, Consider These 3 Top Stocks
Alex Smith
1 month ago
Investors looking to add some additional yield to their portfolio with unique single-stock picks have come to the right place.
I’m going to dive into three of the top Canadian dividend stocks I think long-term investors won’t want to miss out on. These companies have strong growth profiles and robust underlying cash flows, which support not only their current distributions but also further dividend increases over time.
With that in mind, let’s dive into three of the higher-yielding options on the TSX I think long-term investors should consider.
Suncor
I’ve long thought of Suncor (TSX:SU) more as a defensive option for investors looking for exposure to the energy sector, and it is.
However, this Western Canadian oil and gas producer has also turned into quite the dividend stock. A current dividend yield of more than 4% and robust recent earnings growth (during a period of time when oil prices have sunk) have led to the kind of share price performance investors would like to see.
No matter your view on where commodity prices are headed from here, I think Suncor can be a profitable (and yield-friendly) addition to investor portfolios today.
Dream Industrial REIT
One of the top real estate investment trusts (REITs) I continue to come back to the well on, Dream Industrial REIT (TSX:DIR.UN) is another one of those potential “forever” dividend holdings I think investors can buy today and sleep well at night owning for decades.
The industrial REIT is focused on exactly that â acquiring, owning, and managing hundreds of prime properties located primarily in Canada. For those bullish on the rise of same-day delivery and growth trends in the e-commerce space, I’d argue Dream Industrial could be the best way to play these trends. That’s because the company’s clientele includes some of the biggest and most well-known players in these spaces, who lease the company’s warehouses and distribution centres to operate efficiently.
With a 5.6% dividend yield and strong underlying net operating income growth, I think this is a stock that could raise its dividend over time. Thus, at around $12 per share, Dream Industrial looks like a solid buy to me here.
Bank of Nova Scotia
Rounding out this list of top-tier dividend stocks to consider buying now is Bank of Nova Scotia (TSX:BNS).
Shares of the Big 5 Canadian bank have been on a tear, along with its peers, over the course of this year. Much of this move has to do with a steepening yield curve, which makes the company’s key net interest margin (a reflection of its profitability on loan creation) much more profitable.
This move supports the company’s growth profile and its robust 4.3% dividend yield. With a bond-like yield that I’d argue is much better (due to the company’s aforementioned impressive capital appreciation profile), this is a stock I think investors can buy today and hold for decades.
The post To Get More Yield From Your Savings, Consider These 3 Top Stocks appeared first on The Motley Fool Canada.
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More reading
- Is BNS Stock a Buy, Sell, or Hold for 2026?
- Your Best Bets as Canadian Energy Stocks Get Their Chance to Shine
- How to Rebalance Your Portfolio for 2026
- Balance Is Everything, and These 3 TSX Stocks Are Top-Tier Picks for 2026
- Volatility? Bank Stocks Are the Place to Be
Fool contributor Chris MacDonald has no position in any of the stocks mentioned. The Motley Fool recommends Bank of Nova Scotia and Dream Industrial Real Estate Investment Trust. The Motley Fool has a disclosure policy.
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