Top Canadian Dividend Stocks Beyond Telus for Savvy Investors
Investors seeking solid dividend stocks beyond the well-known Telus (TSX:T) have attractive alternatives. While Telus boasts a notable 9% yield, other stocks present unique opportunities for growth and stability.
SmartCentres REIT: A Strong Contender
SmartCentres Real Estate Investment Trust (TSX:SRU.UN) offers a respectable 6.91% distribution yield. This retail-focused REIT has been gradually gaining momentum and could be a sound investment, particularly for those seeking diversification in their portfolios.
- Current Yield: 6.91%
- Occupancy Rate: High, thanks to a solid tenant base
- Beta: Currently at 0.90, indicating lower volatility
Despite challenges in the real estate sector, SmartCentres is positioned to thrive as interest rates decline. Its ambitious project pipeline promises potential distribution growth in the long run.
Leon’s Furniture: A Hidden Gem
Leon’s Furniture (TSX:LNF), a mid-cap stock valued at $1.95 billion, currently features a dividend yield of 3.36%. While this is significantly lower than Telus, Leon’s shows promise for dividend growth and capital appreciation.
- Current Yield: 3.36%
- Trailing P/E Ratio: 11.2, suggesting room for expansion
- Stock Performance: Only 5% below all-time highs
The company has been demonstrating strong consumer spending, and its plan for a potential REIT spin-off may enhance shareholder value. This makes Leon’s an appealing option in a potentially overheating stock market.
Why Consider These Stocks?
Both SmartCentres REIT and Leon’s Furniture provide viable alternatives for investors focused on dividend yields and growth potential beyond Telus. These stocks not only offer income but also underscore a strategic approach to investment diversification.
As the Canadian economy is projected to improve in 2026, these options are worth monitoring for savvy investors looking for premium dividend opportunities. They may indeed prove to be valuable assets in any investment portfolio.
