Buying and holding dividend stocks, while reinvesting all dividends received, is one of the most powerful and time-proven strategies to build wealth. With this in mind, let’s take a look at two stocks trading under $8 with yields over 5.5% that you could buy now.
Rogers Sugar Inc. – Montreal, Quebec
Rogers Sugar Inc. (TSX:RSI) holds all of the common shares of Lantic Inc, which is one of the leading manufacturers and distributors of sugar products in Canada. Its products are marketed under the Lantic and Rogers brand names and include granulated, icing, cube, liquid, yellow, and brown sugars.
Rogers pays a quarterly dividend of $0.09 per share, or $0.36 per share annually, which gives it a yield of about 5.6% today. It’s also important for investors to note that the company has maintained its current annual dividend rate since 2013, and it has paid an annual dividend of at least $0.34 per share since it converted to a conventional corporation in 2011.
Chorus Aviation Inc. – Halifax, Nova Scotia
Chorus Aviation Inc. (TSX:CHR) is a leader in the Canadian aviation industry through its Jazz Aviation and Voyageur Aviation subsidiaries, and it’s also a leading provider of regional aircraft leasing and support services through its Chorus Aviation Capital subsidiary.
Chorus pays a monthly dividend of $0.04 per share, or $0.48 per share annually, giving it a yield of about 6.5% today. Investors should also note that the company has raised its annual dividend payment each of the last three years, and this streak will continue in 2017 if it announces a hike before the end of the year.
