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Top Canadian Dividend Stocks available as ADRs

There are many stocks in the Canadian stock markets that have high dividend yields and/or dividend growth rates. The goal of this post is to identify those Canadian stocks that consistently raised dividends year over year and trade as interlisted stocks in the US. In order to accomplish this goal, we shall use the S&P TSX Canadian Dividend Aristocrats Index as the base.

Note: Kindly note that the title is spelled incorrectly. Canadian stocks trading in the US are not ADRs. They are called as “Interlisted” stocks.

S&P TSX Canadian Dividend Aristocrats Index:
This index has a total of 37 companies. It includes companies which have followed a managed-dividend policy of increasing dividends every year for at least 7 years.

S&P created this index because dividends have played a major role in the returns of the S&P/TSE Composite Index. Since 1956 dividends alone have accounted for 30% of the total returns of the TSE Composite Index. So dividends account for almost 1/3rd of returns. The past 5 year return of the Dividend Aristocrats is 18.31% (using Canadian dollars).

Canadian Dividend Aristocrats Index - Components as interlisted stocks in the US:

Out of the 37 stocks in the index, 11 of them trade as interlisted stocks in the NYSE. Hence an investor looking to add some Canadian dividend stocks can easily add them to their diversified portfolio. The following is a listing of those 11 stocks:

1. Bank of Montreal - BMO
Dividend Yield - 6.13%

2. Bank of Nova Scotia Halifax - BNS
Dividend Yield - 4.11%

3. Brookfield Properties Corp - BPO
Dividend Yield - 2.80%

4. Canadian National Railways - CNI
Dividend Yield - 1.75%

5.Canadian Natural Resources Limited - CNQ
Dividend Yield - 0.44%

6.Enbrdige Inc - ENB
Dividend Yield - 2.98%

7.Imperial Oil Ltd - IMO
Dividend Yield - 0.73%

8.Manulife Financial Corp - MFC
Dividend Yield - 2.83%

9.Royal Bank of Canada - RY
Dividend Yield - 4.41%

Click on Bank of Canada Financial Ratios for historical information

10.Sun Life Financial Serv Canada - SLF
Dividend Yield - 3.63%

11.Toronto-Dominion Bank - TD
Dividend Yield - 3.97%

Note: The above yield info. is as of Aug 29, 2008.

For a full listing of the Dividend Aristocrats Index click the link below: TSX-Dividend-Aristocrats-Index-Components

The latest factsheet of this index can be found by clicking the link below: TSX-Dividend-Aristocrats-Index-Factsheet

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