November 29th, 2011 | 
Category: With the constant changes in the markets over the past 5 months (at least), I decided to published my Top 20 Dividend Stocks as per my tracking and screening criteria. My last edition dates back to July 2011 and it highlighted a number of the same companies with different sectors intertwined. This round shows a heavy concentration of financials near the top and the energy sector lower.
Top 20 Dividend Stocks – Technical Screening
The technical screening is based on 4 criteria that I can easily fetch from Google Finance. Dividend growth is still missing as I have not had the time to track it down and add it. Nevertheless, I wanted to share the list.
- P/E : Target is 15
- 52 Week Range : The lower in the range the higher the score
- Yield : Target is above 3% (this one is manual)
- Payout Ratio : Under 60%
| Ticker | Company | Stock Price | Market Cap | P/E | Dividend | Yield | Value Metric |
|---|---|---|---|---|---|---|---|
| TCL.A | Transcontinental Inc | $11.95 | 0.97 | 7.17 | $0.14 | 4.69% | 5.95 |
| NA.TO | National Bank | $64.75 | 10.47 | 9.55 | $0.71 | 4.39% | 5.89 |
| COS.TO | Canadian Oil Sand | $20.45 | 9.91 | 8.10 | $0.30 | 5.87% | 5.76 |
| IAG.TO | Industrial Alliance | $25.93 | 2.34 | 8.87 | $0.25 | 3.78% | 5.76 |
| LB.TO | Laurentian Bank | $43.39 | 1.04 | 8.71 | $0.42 | 3.87% | 5.74 |
| MFC.TO | Manulife | $10.85 | 19.46 | 10.07 | $0.13 | 4.79% | 5.74 |
| BNS.TO | Scotia Bank | $49.58 | 53.83 | 10.92 | $0.52 | 4.20% | 5.58 |
| POW.TO | Power Corporation | $21.62 | 8.89 | 10.35 | $0.29 | 5.37% | 5.53 |
| RY.TO | Royal Bank | $45.01 | 64.61 | 10.94 | $0.54 | 4.80% | 5.52 |
| CM.TO | CIBC | $69.87 | 27.87 | 10.61 | $0.90 | 5.15% | 5.51 |
| LLY | Lilly | $36.14 | 41.84 | 8.63 | $0.49 | 5.42% | 5.43 |
| BMO.TO | Bank of Montreal | $57.41 | 36.59 | 11.13 | $0.70 | 4.88% | 5.42 |
| TD.TO | TD Bank | $69.63 | 61.89 | 12.01 | $0.68 | 3.91% | 5.33 |
| GE | General Electric | $14.92 | 157.52 | 12.25 | $0.15 | 4.02% | 5.28 |
| HSE.TO | Husky | $23.81 | 22.80 | 11.21 | $0.30 | 5.04% | 5.26 |
| RSI.TO | Rogers Sugar | $5.11 | 0.45 | 8.67 | $0.09 | 6.65% | 5.03 |
| REI.UN | RioCan | $25.02 | 6.71 | 8.07 | $0.12 | 5.52% | 4.99 |
| DD | Dupont | $45.08 | 41.65 | 12.24 | $0.41 | 3.64% | 4.98 |
| CPB | Campbell Soup | $32.00 | 10.25 | 13.26 | $0.28 | 3.50% | 4.82 |
| AX.UN | Artis REIT | $13.90 | 1.16 | 4.47 | $0.09 | 7.77% | 4.75 |
These are not stock recommendations. It is simply a sorted list based on mathematical screening. It’s just an initial step to further look into an investment that matches the criteria I am looking for. What I like about this list is that it can highlight an entry point.
Only 8 companies in the list were present since the July edition. You all get to see a set of new potential investment 
General Electric (GE) and ManuLife (MFC) are both new entry on the list with healthy dividends. As I mentioned in my weekly, I started looking closely at them.
Top 20 Dividend Stocks – Dividend Yield
This list is purely sorted by the yield. Don’t be fooled by some high yields. As you can see, many are paying monthly and that’s due to the companies being REIT, income trusts or corporation converted from income trusts. Many of the old income trusts kept their monthly payments.
| Ticker | Company | Quote | Market Cap | P/E | EPS | Dividend | Yield | Payout Ratio | Payments |
|---|---|---|---|---|---|---|---|---|---|
| JE.TO | Just Energy | $10.04 | 1.39 | 6.18 | $1.63 | $0.10 | 12.35% | 76.07% | 12 |
| ERF.TO | Enerplus Corp | $26.14 | 4.73 | 10.01 | $2.61 | $0.18 | 8.26% | 82.76% | 12 |
| SLF.TO | Sun Life Financial | $17.99 | 10.48 | 14.68 | $1.23 | $0.36 | 8.00% | 117.07% | 4 |
| KEG.UN | The Keg Royalty Income Fund | $12.26 | 0.14 | 11.25 | $1.09 | $0.08 | 7.83% | 88.07% | 12 |
| AX.UN | Artis REIT | $13.90 | 1.16 | 4.47 | $3.11 | $0.09 | 7.77% | 34.73% | 12 |
| PBH.TO | Premium Brands Holding Corp | $16.08 | 0.33 | 21.50 | $0.75 | $0.29 | 7.21% | 154.67% | 4 |
| LIQ.TO | Liquor Store Income Fund | $15.09 | 0.34 | 12.21 | $1.24 | $0.09 | 7.16% | 87.10% | 12 |
| AGF.B | *AGF Management | $15.10 | 1.44 | 11.66 | $1.29 | $0.27 | 7.15% | 83.72% | 4 |
| BA.TO | Bell Alliant | $27.14 | 6.18 | #N/A | -$3.61 | $0.48 | 7.00% | -52.63% | 4 |
| RSI.TO | Rogers Sugar | $5.11 | 0.45 | 8.67 | $0.59 | $0.09 | 6.65% | 57.63% | 4 |
| CUF.UN | Cominar | $22.40 | 1.44 | 13.02 | $1.72 | $0.12 | 6.43% | 83.72% | 12 |
| GWO.TO | Great West Life | $19.50 | 18.52 | 9.91 | $1.97 | $0.31 | 6.36% | 62.94% | 4 |
| CPG.TO | Crescent Point Energy | $43.53 | 12.44 | 48.97 | $0.89 | $0.23 | 6.34% | 310.11% | 12 |
| T | AT&T | $28.06 | 166.28 | 14.24 | $1.97 | $0.43 | 6.13% | 87.31% | 4 |
| ENF.TO | *Enbridge Income Fund | $19.63 | 0.78 | 21.09 | $0.93 | $0.10 | 6.11% | 129.03% | 12 |
| PWF.TO | Power Financial | $23.74 | 16.81 | 10.76 | $2.21 | $0.35 | 5.90% | 63.35% | 4 |
| COS.TO | Canadian Oil Sand | $20.45 | 9.91 | 8.10 | $2.52 | $0.30 | 5.87% | 47.62% | 4 |
| LEG | ** Legget & Plat | $21.38 | 2.97 | 18.03 | $1.19 | $0.31 | 5.80% | 104.20% | 4 |
| MBT.TO | Manitoba Telecom | $29.51 | 1.95 | 13.95 | $2.12 | $0.43 | 5.76% | 80.19% | 4 |
The single star (*) highlights a US Dividend Aristocrat and the double star (**) indicates a Canadian Dividend Aristocrat.
Thoughts
The companies in the technical screening list definitely has some good picks that I am sure many already own. It could signal another entry point to add to your holdings.
For a list of my holdings, see the Dividend Income section where I list my dividend holdings monthly with the dividends earned.
Readers: What do you think of the lists?
Disclaimer: Please note that this blog post represents my opinion and not an advice/recommendation. I am not a financial adviser, I am not qualified to give financial advice. Before you buy any stocks/funds consult with a qualified financial planner. Make your decision at your own risk – see my full disclaimer for more details.
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I think Daylight Energy stopped the dividend because they are being sold
Thanks for the heads up. I’ll be updating my list.
[...] The Passive Income Earner offered up some interesting metrics for the 20 Canadian dividend-paying stocks. [...]
Great article, I enjoyed reading it. One question though, you have talked about the payout ratio in this and other posts, yet it isn’t listed on your tables? I am wondering how you arrive at that figure and if it’s available as a GoogleFinance() function in google spreadsheets.
Hi Christopher,
Thanks for stopping by. The payout ratio is calculated based on the EPS and the dividends paid. The EPS you can get from GoogleFinance() but the dividends is manual. You just need to calculate the dividends for the year divided by the EPS and you get the payout ration. EPS is earning per share and the dividend is per share as well. It tells you the ratio of money returned to investors compared to what they earned.
Income trusts follow a different rule. Dividend Ninja explains it well in this post: http://www.dividendninja.com/what-happened-to-the-income-trusts-2
Hope this helps!
[...] Top 20 Dividend Stocks – November 2011 Edition (The Passive Income Earner) [...]
PIE,
Thanks for posting this list!
I’m curious, however. I’ve looked at GE a few times now. Are you concerned about the debt load at all? GE throws off a lot of FCF, but I’m still concerned about the debt and any lingering issues from GE Capital. The yield is nice, and the company appears undervalued based on a historical P/E ratio however.
Any thoughts?
Best wishes!
Dividend Mantra recently posted..Dividend Income Update – November 2011
Hey Mantra!
I have not yet looked into GE. It just showed up on my radar through my technical filtering. I’d be curious to know how the debt compares from an historical perspective and if it increased over the past few years or if it was managed during this economy.
Cheers.