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I’m not going to mess around like I sometimes do at the beginning of articles. Your time is precious, as is your money. That is exactly why today, I’m going to discuss the safest dividend stocks out there. We all need cash, and this is where you can get it today — and not just today but for life.
Fiera Capital (TSX:FSZ) is a strong asset manager that invests in growth and value stocks alike. It’s been around for decades, with a long history of dividend payments to boot. It currently boasts an incredible 9.86% dividend yield as well — one that’s supported by a $1 billion market capitalization.
One thing to note is that the company is going through the effects of the financial markets. This decreased revenue, earnings and its net assets for the most recent quarter. Even still, during a market rebound with inflation getting under control, it could mean Fiera sees a pop up. And it remains one of the safest dividend stocks out there, with a decade-long compound annual growth rate (CAGR) of 10.4%.
Shares of Fiera are down 2.7% year to date.
Brookfield Asset Management
Another company managing assets for decades, in fact over a century, is Brookfield Asset Management (TSX:BAM.A)(NYSE:BAM). The company holds everything from apartments to casinos all around the world. This diverse range of real estate properties allows it to even have offshoots of specific areas, and it remains a strong choice among dividend stocks.
Its diversified investments, $112 billion market cap, and net income of $11.1 billion during its latest quarter are all reasons that point to the safety of the company’s dividend. That dividend isn’t crazy high at 1.07%, but it’s certainly safe. Meanwhile, it’s risen at a CAGR of 8.52% in the last decade.
Shares of Brookfield are down 10% year to date.
Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM) is one of the Big Six banks, and that makes it safe in its own right. Its provisions for loan losses have allowed the bank to continue growing, even as loans become lower. However, CIBC stock has managed to be one of the best dividend stocks while also seeing its business increase.
That comes down to its focus on customer service, providing more and more options for clients to decide to choose this bank above the rest. That includes its recent stock split, where the company is now the cheapest of the banks to buy at just $66 per share. All while still boasting a 5.04$ dividend yield, trading at 9.43 times earnings. That dividend has grown by a 5.22% CAGR.
Shares of CIBC stock are down 7.76% year to date.
Insurance is just one of those industries that simply isn’t going anywhere. So, neither is the dividend for Great-West Lifeco (TSX:GWO). The company has been growing its insurance business around the world and acquiring other companies along the way. This has made it into a powerhouse, with a market cap of $29.86 billion as of writing. It continues to climb, according to its second-quarter results, with net earnings reaching $301 million.
And yet, it’s so cheap! Great-West is another of the dividend stocks trading at just 9.43 times earnings, while offering up a 6.26% dividend yield. The yield has grown by a CAGR of 3.9% over the last decade.
Shares of Great-West are still down 13% year to date.