3 High-Yielding TSX 60 Components to Buy Today

Looking for a dividend stock? If so, Bank of Montreal (TSX:BMO)(NYSE:BMO), Rogers Communications Inc. (TSX:RCI.B)(NYSE:RCI), and Teck Resources Ltd. (TSX:TCK.B)(NYSE:TCK) are great options.

The Motley Fool

One of the most important facts to know about investing is that dividend-paying stocks far outperform their non-dividend-paying counterparts over the long term. This means that every long-term investor should own at least one dividend-paying stock, and depending on your age, investment goals, and risk tolerance, maybe even a diversified portfolio full of them. With this in mind, let’s take a look at three stocks from the TSX 60 Index with yields up to 4.75% that you could buy right now.

1. Bank of Montreal: 4.75% yield

Bank of Montreal (TSX:BMO)(NYSE:BMO) is the fourth-largest bank in Canada, with approximately $672.4 billion in total assets. It pays a quarterly dividend of $0.82 per share, or $3.28 per share annually, giving its stock a 4.75% yield at today’s levels. The company has also increased its dividend for four consecutive years, and its consistent free cash flow generation could allow this streak to continue in 2016.

2. Rogers Communications Inc.: 4.3% yield

Rogers Communications Inc. (TSX:RCI.B)(NYSE:RCI) is one of the largest communications and media companies in Canada. It pays a quarterly dividend of $0.48 per share, or $1.92 per share annually, which gives its stock a 4.3% yield at current levels. It is also very important to note that the company has increased its dividend for 10 consecutive years, and its increased amount of free cash flow could allow this streak to continue for another 10 years at least.

3. Teck Resources Ltd.: 3.3% yield

Teck Resources Ltd. (TSX:TCK.B)(NYSE:TCK) is the largest diversified resources company in Canada and the largest producer of steel-making coal in North America. It pays a semi-annual dividend of $0.15 per share, or $0.30 per share annually, giving its stock a 3.3% yield at today’s levels. Investors should also note that the company reduced its dividend by 66.7% in April to bring its payout and yield “more in line with current commodity prices,” and to ensure the “strength and flexibility” of its balance sheet. I think the new rate is sustainable for the long term.

Which of these dividend stocks should you buy today?

Bank of Montreal, Rogers Communications, and Teck Resources are three of the most attractive dividend-paying investment opportunities in the TSX 60 Index today. Foolish investors should take a closer look and consider buying one or all of them today.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Joseph Solitro has no position in any stocks mentioned. The Motley Fool owns shares of ROGERS COMMUNICATIONS INC. CL B NV. Rogers Communications is a recommendation of Stock Advisor Canada.

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