Top 10 Canadian Blue Chip Stocks
Algonquin power and utility stocks – dividend yield: 3.89%; Market Cap: $ 11.65 Billion: Algonquin, a 32-year-old utility company, is a leader in green energy. It generates, transmits, and distributes water, gas, and electricity to communities in the United States, and operates a renewable energy business. It has a strong portfolio of long-term contractually agreed wind, solar and hydropower plants. It has been increasing its dividend for nine years. It is also one of the few companies that is well equipped for the future, and a stronger pursuit of green energy would make it a national leader in energy supply and power generation. It has a large consumer base and $ 11 billion worth of assets. Its strong CAGR of 21% makes it one of the best blue-chip Canadian stocks for long-term investing.
BCE warehouse – dividend yield: 5.98%; Market Cap: $ 52.97 billion: This 37-year-old telecommunications giant is a leader in its sector and, with Telus and Rogers, dominates 90% of the market. Given that it is headed towards 5G, it could continue to grow over decades. It has a strong balance sheet, many assets, and multiple brands with familiar names. It has offered good dividends for more than a decade, and its current 10-year CAGR is 10.6%.
Canadian National Railway (CNR) inventory – dividend yield: 1.84%; Market Cap: $ 94.66 Billion: Centuries-old CNR is a transportation and logistics giant and Canada’s largest railroad. It owns the only transcontinental railroad in North America and provides intermodal, trucking, freight forwarding, warehouse and distribution services, and 2,000 miles of railroad, so it dominates both freight and passenger traffic. It has also been offering great dividends for 24 years. The return may not be great, but its capital growth potential is. Its 10-year CAGR is 17.39%.
Constellation Software Inc. – dividend yield: 0.271%; Market Cap: $ 39.56 Billion: Constellation is a diversified Canadian software company that acquires and holds a variety of profitable assets over the long term. It is a 25-year leader in the technology sector and the second largest software company by market capitalization. It currently has 125,000 customers in more than 100 companies. Constellation’s balance sheet is strong and future growth looks promising, although it’s usually overpriced, which is understandable given its 10-year CAGR of 44.7%.
Enbridge stock – dividend yield: 6.82%; Market Cap: $ 86.81 Billion: This oil and gas company is the largest energy distributor in North America. It has an extensive network of pipelines through North America and the Gulf of Mexico. It is Canada’s largest natural gas distributor, collecting, transporting, processing and storing oil and gas. It serves 3.7 million customers in Ontario, Quebec, New Brunswick and New York. Enbridge has had very generous returns, two straight years of dividend growth, and a 10-year CAGR of 8.96%, but has also faced some uncertainty in the energy sector. The company has the largest oil pipeline networks in North America, but the sector could be very different in two decades. So it’s one of the riskier long term bets here.