Canadian stocks have edged higher in trading today as oil prices have rebounded sharply. The S&P/TSX Composite Index was up nearly 1% in mid-day trading. The recovery in oil prices is good news for the Canadian economy. The big question is whether the recovery can be sustained. There is hope that at the March 20th meeting between major producers, a decision will be made on freezing production. If that happens, a sustained recovery can be expected. That will be a positive for Canadian equities as well. However, investors should still look at dividend stocks for steady income despite the potential of capital appreciation.
Altus Group Ltd. (TSX: AIF)
Altus Group is a Toronto, Canada-based company providing independent advisory services, software and data solutions to the commercial real estate industry.
On Tuesday, AIF announced that its Board of Directors approved the payment of a cash dividend of $0.15 per common share. AIF currently offers a dividend yield of 3.06%.
Acadian Timber Corp. (TSX: ADN)
Acadian Timber is a Vancouver-based supplier of primary forest products in Eastern Canada and Northeastern United States.
Acadian recently announced a dividend of $0.25 per share. The stock currently offers a dividend yield of 5.25%.
