In February, Statistics Canada reported that the economy grew for the ninth month in a row. A boost in manufacturing and resources drove the 0.80 percent economic growth. According to BMO Capital Market Economics, the first quarter of 2022 will create roughly 4% GDP on an annualized basis. Canadians have so far ignored the price increase and are sticking to their purchasing habits from 2021. In 2022, the Bank of Canada anticipates the expenditure trend to continue. If the inflation rate, which is currently at 5.7 percent, does not rise, consumer confidence will remain stable. Canada is on the verge of economic expansion, and there are a plethora of businesses that may provide investors with a regular stream of revenue. Dividend payers like JPMorgan Chase & Co., Microsoft Corporation, and The Coca-Cola Company are popular among investors.
Insider Monkey chose Canadian dividend companies that offer strong balance sheets and positive analyst ratings. Parex Resources Inc. declared a C$0.14 per share dividend for the first quarter of 2022, which was paid on March 30 to shareholders who had registered by March 15. As of April 1, the stock yields 2.17 percent. BTG is a Vancouver-based gold-mining firm with operations in Mali, the Philippines, and Namibia. The firm describes itself as a low-cost gold miner. The stock has risen more than 23% year to date and more than 12% in the previous month. The Calgary-based Canadian Natural Resources Limited is a crude oil, natural gas, and natural gas liquids producer. The company’s fourth-quarter revenue increased by 83.40 percent over the previous quarter, exceeding expectations by $484.66 million. Suncor Energy Inc. is a Canadian energy corporation that primarily sells crude oil and petroleum. Natural gas, byproducts, processed goods, and power generation are also part of the company’s portfolio. As of April 1, the stock yields 4.11 percent in dividends. Algonquin Power & Utilities Corporation was founded in 1988 and is based in Oakville, Ontario, Canada. In Canada, the United States, Chile, and Bermuda, the corporation generates, distributes, and transmits non-regulated utility assets. For more details, click 10 Canadian Dividend Stocks For Steady Income.
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