5 Canadian Dividend Stocks with Over 3% Yield

In this article, we discuss the 5 Canadian dividend stocks with over 3% yield. If you want to read our detailed analysis of these stocks, go directly to the 10 Canadian Dividend Stocks with Over 3% Yield.

5. Algonquin Power & Utilities Corp. (TSX:AQN.TO)

Forward Dividend Yield: 4.74%  

Algonquin Power & Utilities Corp. (TSX:AQN.TO) owns and operates utility assets in the United States, Canada, Bermuda, and Chile. The company has interests in hydroelectric, wind, solar, and thermal facilities for the generation of electricity, as well as in the distribution of natural gas and water. It also offers wastewater collection services. It is headquartered in Oakville and was founded in 1988. 

In late October, Algonquin Power & Utilities Corp. (TSX:AQN.TO) revealed that American Electric Power, an investor-owned utility firm based in Ohio, had agreed to sell the Kentucky operations to Liberty Utilities, a subsidiary of Algonquin, in a deal worth $2.8 billion. 

Algonquin Power & Utilities Corp. (TSX:AQN.TO) has said it will use the proceeds from the sale to eliminate forecast equity needs. These include investments in renewables, transmission and other projects.