PKI:CC - 3 Dividend Yield Champions to Buy Today
2023-11-19 09:15:00 ET
The Dividend Yield Champions list is pretty exclusive. It may be a great starting ground for investors looking for great value and a solid payout. Analysts over at Scotiabank unveiled their Dividend Yield Champions list back in late September. And we’ll have a look at three more standouts that I think offer a good value for money as we head into mid-November.
Of course, all of the champs on the list are buy-worthy. But here are three that are starting to look incredibly intriguing. As always, don’t forget to put in your own homework before committing to any purchase.
Without further ado, here are three champs that look dirt cheap right here.
Manulife Financial
First up, we have Manulife Financial ( TSX:MFC ), a life insurance and wealth management firm that’s been a relative laggard in recent years. Over the past five years, shares have only moved 16.9% higher. Of course, the fat 5.67% dividend yield seems to be the star of the show. At writing, the payout looks on very solid footing, with room to grow if a Canadian recession proves short.
At around 9.5 times trailing price to earnings (P/E), shares also look incredibly cheap. Of course, only time will tell when MFC stock will be able to break through its multi-year consolidation channel in the $22-28 range. Either way, long-term investors can collect the juicy dividends, as they wait for the tides to turn back in the insurer’s favour.
Parkland Fuel
Parkland Fuel ( TSX:PKI ) is a gas station retailer that’s been in rally mode this year, with shares soaring more than 50% year to date and over 71% in the past year. Undoubtedly, shares found themselves in a bit of a rut over the past few years. As things begin to turn, thanks in part to solid earnings reports, I view PKI as a comeback play that may be in a spot to hit new highs again.
At writing, shares go for 17.2 times trailing P/E. The 3.13% dividend yield is also bountiful and safe. As the rally continues, I view PKI as one of the most attractive long-term growth plays of the Dividend Yield Champions list.
Maple Leaf Foods
Maple Leaf Foods ( TSX:MFI ) stock has been on quite a turbulent ride in recent years. The stock is up over 30% since its 2022 lows, but after a recent plunge off 52-week highs, shares could make for an incredibly choppy ride. Recently, the company reported a loss of $4.3 million. As the firm steadies the sails for the post-COVID era, there may be a lot to look forward to. Though a recession could bring forth further downside, I’d not be afraid to nibble on a name that I believe is deeply discounted right now.
At 0.65 times price to sales (P/S), with a 3.24% dividend yield, MFI could make for a great stocking stuffer this holiday season!
The Foolish bottom line
There you have it: three more Dividend Yield Champions to pick from if you’re in the market for a bargain. Personally, I like Parkland the most, as it continues to gain traction.
The post 3 Dividend Yield Champions to Buy Today appeared first on The Motley Fool Canada .
Fool contributor Joey Frenette has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy .
2023