In this article, we will be taking a look at the top 5 Canadian dividend aristocrats to buy now. To read our detailed analysis on Canadian dividend stocks, you can go directly to see the Top 10 Canadian Dividend Aristocrats to Buy Now.
5. Algonquin Power & Utilities Corp. (NYSE:AQN)
Number of Hedge Fund Holders: 13
Dividend Yield: 5.3%
Number of Years of Dividend Growth: 11
Algonquin Power & Utilities Corp. (NYSE:AQN) is a utility company operating in Canada. The company owns and operates assets in the US, Chile, and Bermuda, alongside Canada. It generates and sells electrical energy using primarily renewable energy power generation facilities. With a dividend yield crossing 5%, it is a lucrative dividend investing opportunity on our list of the top Canadian dividend aristocrats to buy now.
National Bank analyst Rupert Merer holds a Sector Perform rating on shares of Algonquin Power & Utilities Corp. (NYSE:AQN) as of this May.
The company’s EPS in the fiscal first quarter of 2022 was $0.2, in line with estimates. Algonquin Power & Utilities Corp.’s (NYSE:AQN) revenue was $735.7 million, beating estimates by $26.1 million.
In the first quarter of 2022, 13 hedge funds were long Algonquin Power & Utilities Corp. (NYSE:AQN), while 16 hedge funds were long the stock in the previous quarter. Their total stake values were $177 million and $141 million respectively.