5 best TSX dividend-paying stocks to buy in October

Investment in stocks can become a major source of earning income. Most of the investors who seek a regular income invest in trusted companies for stable growth.

These companies can pay regular dividends, even if their stock prices trade lower as they have strong fundamentals that help them in tackling temporary market setbacks. 

On that front, here are the five best dividend-paying stocks for October 2021.

 

Image description: 5 best TSX-listed stocks paying dividends in October 2021

The C$ 64 billion market cap company is one of the leading financial institutions in Canada, offering banking, capital markets and wealth management solutions.

The bank saw its bank scrip wrap up trading at C$ 142.50 apiece, on Friday, October 4, roughly a drop of seven per cent from the 52-week high of C$152.84 (August 26). The company held a dividend yield of 4.098 per cent, on this day.

The company is expected to pay a quarterly dividend of C$ 1.46 per share on October 28 (ex-dividend-date: September 27). The average five-year dividend growth rate stood at 4.44 per cent.

Also read: 5 highly anticipated Canadian IPOs to watch out for

Ag Growth International engineers and provides tech-driven grain handling and conditioning equipment to support the global food infrastructure.

The Winnipeg-based manufacturer saw its stock closing at C$ 28.05 apiece on Monday October 4, marking a dive of more than 42 per cent from its 52-week high of C$ 48.47 on March 18.

The firm declared a cash dividend of C$ 0.15 per share for Q3 2021, which is payable on October 15 (ex-dividend-date: September 28). At the time of writing, the company held its dividend yield at 2.139 per cent.

The Bank of Nova Scotia is a financial institution that offers fully integrated banking and investment services across the Americas, Europe and other countries.

The Halifax-headquartered bank scrip closed at C$ 77.47 apiece on October 4, rising by nearly 44 per cent from the 52-week low of C$ 53.92 per share (October 29, 2020). 

The banking firm held a market capitalization of over C$ 94 billion, a return on equity (ROE) of 14.11 per cent and dividend yield of 4.647 per cent on October 4.

The company is expected to pay a quarterly dividend of C$ 0.90 per share, payable on October 27. The average five-year dividend growth of the bank stands at 4.96 per cent.

The BNS stock was among the top 10 most actively traded stocks on the Toronto Stock Exchange (TSX) with a 10-day average trading volume of 7.4 million on October 4.

Also read: Top 4 events to follow in Canadian markets on September 30

AirBoss Of America Corp is engaged in the development, manufacturing and marketing of rubber-based products for the industrial sector. With headquarters in Newmarket, Ontario, the firm operates manufacturing facilities in the United States and Canada.

The company’s stock surged nearly 123 per cent year-to-date (YTD), and rose by roughly 84 per cent in the past year, closing at C$ 35.13 apiece on Monday, October 4. However, it was below by nearly 20 per cent compared to its 52-week high of C$ 43.88 (April 14).

AirBoss announced a quarterly dividend of C$ 0.10 per share, payable on October 15 (ex-dividend-date: September 28). Its average five-year dividend growth was at 2.88 per cent and dividend yield stood at 1.139 per cent.

At the time of writing, its price-to-book (P/B) ratio was marked at 3.53, while its ROE was held at 28.36 per cent on October 4.

Also read: Shopify (TSX:SHOP) & Nuvei (TSX:NVEI): 2 tech stocks to buy on the dip?

Andlauer Healthcare Group is a Vaughan-based firm that provides a fully integrated healthcare supply chain service, specialized transportation and logistical services.

The firm saw its scrip wrap up at C$ 49.69 apiece, on Monday, October 4, marking a fall of more than three per cent from its 52-week high of C$ 51.37 reached on September 22.

On a year-to-date (QTD) basis, its stock soared by more than 21 per cent on October 4.

The firm is expected to pay a quarterly dividend of C$ 0.05 per share, payable on October 15 (ex-dividend-date: September 28).

At the time of writing this, its dividend yield stood at 0.402 per cent, ROE was at 43.72 per cent, and return on assets (ROA) was at 15.12 per cent.

Also read: 5 TSX midcap stocks to buy

Dividend stocks are a testament to the financial well-being and market withstanding of a company, given that investors are paid dividends despite tough times and volatile market situations. This helps TSX dividend stocks gain investors’ trust in the long run.

The above are probably five of the best Canadian dividend stocks to hold in October. If interested, it is recommended that you research these Canadian business stocks before investing.

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