As an investor, it’s important to stay on top of the latest trends and data related to the markets. One of the key metrics to consider when investing in stocks is dividend yield. That’s why we’ve compiled a list of the top TSX 60 stocks by dividend yield for 2020.
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Top 5 TSX 60 Stocks by Dividend Yield
First on our list is Enbridge Inc. (ENB), with a dividend yield of 7.45%. Enbridge is a Canadian multinational energy transportation company, and has been a mainstay of the TSX 60 for years. The company has a strong history of paying dividends and is viewed as a stable investment option.
Next up is Pembina Pipeline Corporation (PPL), with a dividend yield of 6.95%. Pembina is another Canadian energy transportation company, and has experienced significant growth over the last few years. The company has a strong focus on sustainability and has been making investments in renewable energy sources.
Third on our list is Canadian Natural Resources Limited (CNQ), with a dividend yield of 5.76%. Canadian Natural Resources is an oil and natural gas exploration and production company, and is one of the largest energy companies in Canada. The company has a strong track record of dividends and has been making investments in renewable energy sources in recent years.
Fourth on our list is CIBC (CM), with a dividend yield of 5.55%. CIBC is a Canadian multinational investment bank and financial services company, and is one of the “Big Five” banks in Canada. The company has a long history of paying dividends and has been investing heavily in technology in recent years.
Finally, we have Bank of Montreal (BMO), with a dividend yield of 5.24%. Bank of Montreal is another one of the “Big Five” banks in Canada, and has been paying dividends since 1829. The company has been expanding its presence in the United States in recent years, and has been making strategic acquisitions to drive growth.
Tips for Investing in TSX 60 Stocks
Investing in stocks can be a complex process, but there are a few tips that can help you navigate the market more effectively:
- Do your research: Before investing in a company, it’s important to research its financials, industry trends, and growth potential. Online resources like Yahoo Finance and Morningstar can provide valuable information.
- Consider diversification: Diversifying your portfolio across multiple stocks can help reduce risk and ensure consistent returns over the long term.
- Look for value: When evaluating stocks, look for companies that are undervalued relative to their peers. These companies may have strong potential for growth in the future.
- Focus on the long term: The stock market can be volatile in the short term, but historically it has provided strong returns over the long term. Be patient and stay focused on your investment goals.
Invest in the Top TSX 60 Stocks Today
If you’re looking to invest in TSX 60 stocks, then the five companies we’ve highlighted above are a great place to start. With high dividend yields, strong financials, and proven track records of success, these companies are positioned to deliver strong returns over the long term. Just remember to do your research, diversify your portfolio, and stay focused on your investment goals.
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