Growth and Income I am looking for your top 3 picks on Canadian markets for dividend income and growth with the emphasis being on dividend income.
For a strong dividend yield with the potential for high growth, we like TD, DIR.UN, and ENB.
ENB pays a solid yield of 7.3% and has historically returned a lot of value to shareholders. It trades at a historically cheap valuation and its expanding balance sheet help to support its share price. TD pays a good yield of 4.8% and has room for growth in its operations across North America. DIR.UN adds a real estate component to the list of names and pays a strong yield of 5.3%. Its operations in the industrial segment help to add a growth aspect to the name, and overall it's a well-managed and well-capitalized company. (5iResearch)