Five Non-Financial Canadian Stocks

The Canadian equity market offers plenty of opportunities from non-financial sectors. Below are 5 such companies for further research:

1.Company: TELUS Corp (TU)
Current Dividend Yield: 4.60%
Sector: Telecom

2.Company: BCE Inc (BCE)
Current Dividend Yield: 5.74%
Sector: Telecom

3.Company: TransCanada Corp (TRP)
Current Dividend Yield: 5.26%
Sector: Oil & Gas Transportation

4.Company: Enbridge Inc (ENB)
Current Dividend Yield: 6.38%
Sector: Oil & Gas Transportation

5.Company: Magna International Inc(MGA)
Current Dividend Yield: 2.76%
Sector: Auto Components

Dividend Withholding Tax Info for US investors: 

  • Canadian withholding taxes are waived on stocks (except REITs) held in qualified retirement accounts such as IRAs and 401Ks.
  • The dividend withholding tax rate is 25% if stocks are held in regular taxable account.
  • However American investors can file the NR301 form with Canada Revenue Agency(CRA) and reduce the tax rate to 15%.

Note: Dividend yields noted above are as of Oct 22, 2018. Data is known to be accurate from sources used.Please use your own due diligence before making any investment decisions.

Disclosure: Long MGA

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