re Dividend Stocks vs GICThe author of that article didn't mention a couple of significant drawbacks with GIC's - firstly CDIC insurance only covers up to $100K per instrument for funds held at Banks so capital safety is not assured if parking higher amounts in one place. Yes many provincial Credit Unions offer "unlimited" insurance, but like others, I feel it's still a very good idea to splash interest earning funds around, rather than holding all in one institution.
Secondly, current long term rates of 5% to 5.25% are only available if you lock in for 5 years. Short term saving rates are decent right now at 4.30% to 4.75%, but when/if short term rates start to drop, the pressure from those will $larger cash holdings, will be back on for the better tax treatment dividend payers! If you believe rates will come down at some point, then this is as window to accumulate some beaten up divvy payers.