While the Canadian economy has been struggling due to turmoil in the oil and commodities market, the Bank of Canada has so far resisted from implementing negative interest rate policy. While there is a possibility that the Canadian central bank might follow other developed world central banks in implementing negative rates, analysts believe that this is not likely to happen in 2016. As a result, financials listed on the Toronto Stock Exchange are worth a look, especially those that offer attractive dividend yields.
Callidus Capital Corp. (TSX: CBL) is one such stock. Based in Toronto, Callidus is engaged in providing financing solutions for companies that are unable to obtain financing from lending institutions. Earlier this week, CBL declared a dividend of $0.175 per common share for the month of April. CBL currently offers a dividend yield of 7.08%.
AGF Management Limited (TSX: AGF.B), an investment management company, also offers an attractive dividend yield. AGF.B currently offers yield of 6.54%. Earlier this week, AGF.B declared a dividend of $0.08 per share on both the Class B Non-Voting shares and the Class A Voting common shares of the company.
