Top 5 Canadian Dividend Aristocrats to Buy Now

3. Manulife Financial Corporation (NYSE:MFC)

Number of Hedge Fund Holders: 19

Dividend Yield: 5.4%

Number of Years of Dividend Growth: 8

Manulife Financial Corporation (NYSE:MFC) is a life and health insurance company providing financial products and services in Asia, Canada, the US, and otherwise globally as well. The company has paid out consistent dividends at a rising percentage for about eight years now, making it a sturdy choice on our list of the top Canadian dividend aristocrats to buy now.

RBC Capital’s Darko Mihelic holds a Sector Perform rating on Manulife Financial Corporation (NYSE:MFC) shares as of this May.

According to Barclays analyst John Aiken at the start of this year, the company could still be seen to benefit from a considerable upside as it retained its leverage to a rising rate environment. Aiken added that Manulife Financial Corporation (NYSE:MFC) had continued to expand its businesses offering high growth and high profitability, which prompted him to place an Overweight rating on the stock this February.

Out of 912 hedge funds, 19 hedge funds were long Manulife Financial Corporation (NYSE:MFC) in the first quarter of 2022. Their total stake value was $517 million. This is compared to 15 hedge funds that were long the stock in the previous quarter, with a total stake value of $346 million.