My Dividend Buying Short List of Canada and U.S. Stocks

I normally.. actually, NEVER do these posts, because they are time consuming, but I have been meaning to do this since I quit my job earlier this year, but you know.. summer hit.. mental slowdown.

But I have been talking for a while about my little Dividend Project where I want about $12,000 in yearly dividend income, spread out over many stocks so that I diversify.

I don’t need the income right now, so I’ll just plow the earnings right back into buying more stock on a DRIP (Dividend Reinvestment Plan).

I am at around $7300 as of this post (2019), but after my next contract, that should bump up significantly because I’ll have about $100K to plow into this and that should pull in about an extra $3000 – $4000 in income if I assume an average of 3% – 4% as a yield.

Then after my contract, depending on how much I make, I’ll plow more money into more dividend stocks, etc etc.

Here is my short list of Canadian Stocks I am interested in buying for Dividend purposes, ranked in order.

I have been spending the past month just gathering the list, getting the stock ticker symbols, the names, and then going to Globe & Mail to pick out their 52-week Lowest and Highest price.

I just want to be prepared for what I think I might like to buy once I start my second contract, and will have free cash ready to plow into the market. I haven’t read up on any of them, but the ones highlighted in red, are ones I already own, I just might want to buy more.

If you want to copy and paste, here is the table (hope it works):

Ticker	Name	Low	High	Dividend
TRP.TO	TC Energy Corporation	49.02	67.27	4.48%
NA.TO	National Bank	54.37	65.39	4.21%
GSY.TO	Go Easy Financial	30.42	59.81	2.20%
CAR.UN.TO	Canadian Apartment REIT	43.03	54.65	2.59%
AQN.TO	Algonquin Power	12.57	18.09	4.19%
CM.TO	CIBC Bank	97.55	125.21	5.27%
CAE.TO	CAE	22.1	36.86	1.30%
EMA	Emera Corp	38.09	58.57	4.13%
CP.TO	Canadian Pacific Railway	228.35	323.71	1.08%
ATD.B.TO	Couche Tard	60.03	88.4	0.62%
TD.TO	TD Bank	65.56	80.05	3.91%
RUS.TO	Russel Metals	18.47	28.2	6.93%
STLC.TO	Stelco	10.57	23.43	3.24%
RY	Royal Bank	90.1	107.91	3.97%
DRG.DB.TO	Dream Global REIT	11.58	16.6	4.15%
IIP.UN.TO	Interrent REIT	11.26	16.22	1.85%
SU.TO	Suncor Energy	35.53	52.06	3.95%
FN.TO	First National Financial	25.38	37.93	5.10%
QSR.TO	Restaurant Brands Intl	68.34	105.93	2.72%
FTS.TO	Fortis	40.71	55.45	3.43%
SLF	SunLife Financial	43.13	58.74	3.59%

Those were Canadian stocks. Here are the American ones in $US (U.S. Dollar / USD):

And the copy and paste table:

Ticker	Name	Low	High	Yield
NSRGY	Nestle	78.62	114.87	1.92%
RDS.B	Royal Dutch Shell	54.64	72.06	6.44%
DIS	Disney	100.35	147.15	1.30%
SBUX	Starbucks	54.71	99.72	1.61%
UNP	Union Pacific	128.08	180.54	2.30%
MSFT	Microsoft	93.96	141.68	1.35%
MCD	McDonald’s	157.72	221.93	2.24%
JNJ	Johnson and Johnson	121	148.99	2.93%
CSCO	Cisco	40.25	58.26	2.80%
KO	Coca-Cola	44.25	55.92	2.97%
PG	Procter & Gamble	78.49	123.43	2.49%
EPD	Enterprise Products	23.33	30.86	6.09%
LMT	Lockheed Martin Corp	241.18	399.96	2.24%
HD	Home Depot	158.09	235.49	2.36%
PEP	Pepsico	104.53	139.18	2.83%
CMI	Cummins Inc.	124.4	175.91	3.20%
V	Visa	121.6	187.05	0.57%
MA	Mastercard	171.89	293.69	0.48%
WMT	Walmart	85.78	118.19	1.83%
BA	Boeing	292.47	446.01	2.17%
NVO	Novo Nordisk	41.23	53.55	1.29%
SAP	SAP	94.81	140.62	1.02%
VLO	Valero Energy	68.81	120.72	4.37%
STOR	Store Capital	26.93	38.76	3.60%
AAPL	Apple	142	233.47	1.40%
T	AT&T	26.8	38.75	5.47%
SYK	Strkyer Corp	144.75	223.45	0.97%
DEO	Diageo PLC	131.43	176.22	2.62%
UN	Unilever	52.08	63.62	2.62%
MMM	3M Company	154	219.75	3.39%
COST	Costco	189.51	307.34	0.90%

FEW NOTES:

I don’t always just look at the dividend yield

I don’t want the stock to tank and to lose my capital / holdings for just a few dollars per stock, now do I?

I want stocks that will last the test of time.

I am looking at more Canadian stocks than American ones because of taxes

Withholding tax is 30%… and then I have to convert a depressed Canadian dollar up to an American one, which means I have to pay about 30% more… it sort of just piles on the cost of U.S. stocks higher and higher.

If our Canadian dollar was a bit more at par with the American one, I’d definitely buy USD and then buy some American holdings.

But for now, I’m staying closer to homegrown stocks.

I want to diversify out of banking stocks

A lot of what I own as dividend stocks are banks / financial companies. I want to NOT be so heavily concentrated in this, so I’ll be buying in other industries first.

I need to go through and make a list of all my dividend-specific stocks, and see where they fall, before deciding what to do.

I want to stay under $25,000 in each stock

Not that I am even there, but I don’t want to put in more than $10,000 – $25,000 MAX for really “stable” ones like banks into each stock. Once I ‘max’ out what I put in as capital, I am going to move on to another stock.

I don’t want to lose more than $10,000 – $25,000 per stock if it goes sideways. I am okay with losing a max of $25K but not let’s say $100K concentrated in one stock, no matter how stable it may seem.

I don’t want too many stocks to babysit

..which is why I don’t want too many little stocks. I am thinking 5-10 big blue chip companies, and then 5-10 smaller companies that I will keep an eye on to make sure they don’t go belly up.

What about you? Have you looked into this?