In this article, we discuss 5 TSX-60 stocks that pay dividends. If you want to see some more stocks in this selection, see 10 TSX-60 Stocks that Pay Dividends.
5. Fortis Inc. (NYSE:FTS)
Number of Hedge Fund Holders: 9
Dividend Yield as of April 27: 3.41%
Fortis Inc. (NYSE:FTS) is headquartered in St. John’s, Canada, operating as an electric and gas utility company in Canada, the United States, and the Caribbean countries. As of April 27, Fortis Inc. (NYSE:FTS) delivers a dividend yield of 3.41%.
On February 11, Fortis Inc. (NYSE:FTS) declared a C$0.535 per share quarterly dividend, in line with previous. The dividend is payable on June 1, to shareholders of the company at the close of business on May 17.
Scotiabank analyst Robert Hope on April 19 raised the firm’s price target on Fortis Inc. (NYSE:FTS) to C$63 from C$61 and maintained a Sector Perform rating on the shares.
According to the Q4 database of Insider Monkey, Fortis Inc. (NYSE:FTS) was found in the public investment portfolios of 9 hedge funds, who collectively held stakes worth $517.4 million, compared to 5 funds in the prior quarter, holding stakes in Fortis Inc. (NYSE:FTS) valued at $171.2 million. Rajiv Jain’s GQG Partners is the leading position holder in the company, with almost 6.5 million shares worth $313 million.
4. Kinross Gold Corporation (NYSE:KGC)
Number of Hedge Fund Holders: 31
Dividend Yield as of April 27: 2.38%
Kinross Gold Corporation (NYSE:KGC) is a Toronto-based company that acquires, explores, and develops gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania.
On February 16, Kinross Gold Corporation (NYSE:KGC) declared a quarterly dividend of $0.03 per share, in line with previous. The dividend was paid on March 24, to shareholders of the company as of March 9. Kinross Gold Corporation (NYSE:KGC)’s dividend yield on April 27 stood at 2.38%.
Barclays analyst Matthew Murphy raised the price target on Kinross Gold Corporation (NYSE:KGC) to $7 from $6 and reiterated an Overweight rating on the shares on April 21. While the commodity market has been supportive for resource equities, as growth moderates and supply shocks persist, investors need to consider the possibility of margin compression, the analyst stated in a research note. He remains Overweight on select miners, with a preference for gold.
Among the hedge funds tracked by Insider Monkey at the end of December 2021, 31 funds were long Kinross Gold Corporation (NYSE:KGC), up from 27 funds in the preceding quarter. Jim Simons’ Renaissance Technologies is the largest shareholder of the company, with approximately 25 million shares worth $145 million.
3. Manulife Financial Corporation (NYSE:MFC)
Number of Hedge Fund Holders: 15
Dividend Yield as of April 27: 5.40%
Manulife Financial Corporation (NYSE:MFC) was incorporated in 1887 and is headquartered in Toronto, Canada. The company offers financial products and services in Asia, Canada, and the United States, operating via Wealth and Asset Management Businesses, Insurance and Annuity Products, and Corporate and Other segments.
On March 15, Manulife Financial Corporation (NYSE:MFC) announced a public offering in the United States of $750 million of 3.703% senior notes due 2032 at a price of 100%. The net proceeds will be used to finance green assets under the Manulife Sustainable Bond Framework.
Desjardins analyst Doug Young raised the price target on Manulife Financial Corporation (NYSE:MFC) to C$30 from C$29 and reiterated a Buy rating on the shares on February 14.
According to Insider Monkey’s Q4 data, 15 hedge funds were bullish on Manulife Financial Corporation (NYSE:MFC), compared to 18 funds in the earlier quarter. Noam Gottesman’s GLG Partners is the largest shareholder of the company, with a position worth roughly $168 million.
2. Pembina Pipeline Corporation (NYSE:PBA)
Number of Hedge Fund Holders: 10
Dividend Yield as of April 27: 5.28%
Pembina Pipeline Corporation (NYSE:PBA) is a Calgary-based company that provides transportation and midstream services for the energy industry. Pembina Pipeline Corporation (NYSE:PBA)’s dividend yield on April 27 stood at 5.28%.
On April 19, Scotiabank analyst Robert Hope raised the firm’s price target on Pembina Pipeline Corporation (NYSE:PBA) to C$54 from C$49 and kept an Outperform rating on the shares.
Pembina Pipeline Corporation (NYSE:PBA)’s full-year revenue for 2021 came in at $6.8 billion, compared to $4.6 billion in the preceding year. The 2021 net income stood at $982.2 million, a strong rebound from the loss of $248.3 million in 2020.
Pembina Pipeline Corporation (NYSE:PBA) declared a C$0.21 per share monthly dividend. The dividend will be distributed on May 13, to shareholders of the company as of April 25.
Among the hedge funds tracked by Insider Monkey, Pembina Pipeline Corporation (NYSE:PBA) was found in the public stock portfolios of 10 funds at the end of December 2021, compared to 8 funds in the prior quarter. Israel Englander’s Millennium Management is the leading stakeholder of the company, with a position worth $16.20 million.
1. Royal Bank of Canada (NYSE:RY)
Number of Hedge Fund Holders: 15
Dividend Yield as of April 27: 3.73%
Royal Bank of Canada (NYSE:RY) is a Canadian multinational financial services company that offers retail banking, corporate banking, investment banking, mortgage loans, private banking, wealth management, credit cards, and insurance.
On February 24, Royal Bank of Canada (NYSE:RY) declared a C$1.20 per share quarterly dividend, in line with previous. The dividend is payable on May 24, to shareholders of record on April 25. Royal Bank of Canada (NYSE:RY)’s dividend yield on April 27 came in at 3.73%.
Scotiabank analyst Meny Grauman on April 13 reiterated an Outperform rating on Royal Bank of Canada (NYSE:RY) but lowered the firm’s price target on the shares to C$150 from C$163.
Royal Bank of Canada (NYSE:RY) reported earnings for Q4 2021 on February 24, posting an EPS of $2.24, beating market estimates by $0.01. The $10.20 billion revenue also outperformed estimates by $795.5 million.
According to Insider Monkey’s database, 15 hedge funds were long Royal Bank of Canada (NYSE:RY) at the end of Q4 2021, compared to 16 funds in the preceding quarter. Rajiv Jain’s GQG Partners is the leading shareholder of the company, with more than 7 million shares worth $759.23 million.
You can also take a look at 10 Growth ETFs to Buy Now and 10 Oil Tanker Stocks That Pay Dividends.
