The big five Canadian banks – Bank of Nova Scotia (BNS), Bank of Montreal (BMO), Canadian Imperial Bank of Commerce (CM), Royal Bank of Canada (RY) and Toronto-Dominion Bank (TD) – are excellent picks for income investors. They are slow but steady winners in the long-term especially with growing dividends. According to an article at Bloomberg, these five banks have increased their dividends on an average by 64% since 2008.
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Source: Five charts that show Canadian stocks could rise from the dead, Bloomberg via Financial Post
Disclosure: Long all five banks
