Our Top 5 Canadian DGI Stocks Got to Love Dividend Growth Investing. Once you buy the stocks, there really isn’t much you need to do if they are great companies. Set them to Drip...
Category: Dividend Stocks
Dividend stocks are a great way to create a new passive income stream. They instantly can bring in some cash flow and the stock price may appreciate in value as well.
Dividend Growth Stocks are even better because they have a tendency to raise their dividend’s each year. This is the path I’m moving towards and you can see compounding happen pretty fast on a recent post I did Dividend Growth Investing – Looking 30 years into the future.
How do you start buying them? There are a lot of different options out there but we use our bank. Just go into your personal bank and ask to setup a direct investing account.
Figure out what kind of account you would like to invest in, (ie tfsa, resp, rrsp) and after the paperwork is done you can start buying your first stocks.
Now comes the part of researching what stocks you would like to buy. There are a lot of variables but look at what companies you purchase stuff from or do business with. (This makes it easier to do business with them as you would own part of the company).
Also you might want a company that has a history of raising their dividend and a safe payout ratio.
If you want a couple ideas you can view our current dividend Portfolio here, but as always do your own research before making a purchase.
It’s fun and addicting to get those dividend paychecks for doing nothing! Good luck
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