3 Canadian Dividend Stocks You Can Buy for Under $10

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With the recent selloff in markets, there are now plenty of high-quality stocks trading undervalued. And what’s even more appealing is that if you’re looking to find Canadian dividend stocks to buy, not only can you buy them at lower prices today, but the yields they offer will also be higher.

As long as you make sure that the stocks you are buying aren’t at risk of being impacted by the current environment and instead are just getting caught up in the broader selloff, then they’ll be worth a buy.

If you’re looking to find Canadian dividend stocks to add to your portfolio today, here are three of the best to buy for under $10 a share.

A Canadian media stock offering an incredibly safe dividend

If you’re looking for a stock that can offer you a reasonably attractive yield that’s also incredibly safe, Corus Entertainment (TSX:CJR.B) is one of the best stocks to consider today.

Corus is a media company that operates several TV channels, radio stations, streaming services, and even its own content production business. The company is integrated well as a media business, but the majority of its revenue still comes from advertising — for example, commercials you see on TV or hear on the radio.

So, the stock certainly could be impacted if a recession were to materialize. However, with that being said, Corus is already trading ultra-cheap. Not only that, but its business is well run and earns tonnes of cash flow. Furthermore, its dividend, which currently offers a yield of roughly 5.8%, has a payout ratio of only about 30%

Therefore, if you’re looking for Canadian dividend stocks you can buy for under $10, Corus offers a handsome and safe quarterly dividend.

A well-diversified Canadian dividend stock to buy

Another impressive Canadian dividend stock you can buy for under $10 is Diversified Royalty (TSX:DIV). As its name suggests, the company invests in royalty streams from several different businesses, creating an excellent stock to buy for passive-income seekers.

Through the pandemic, the stock was unbelievably resilient. Its annual dividend of $0.23 per share was trimmed to just $0.20 per share, and the company continued to make monthly payments to investors. This is the power of having exposure to such high-quality and diversified royalty streams.

Today, the stock’s dividend offers a yield of roughly 7.7%, an impressive amount considering how resilient the company has proven to be. Therefore, it has to be one of the best Canadian dividend stocks to buy now.

A top gold stock to add for defence and passive income

Lastly, in this uncertain and highly volatile environment, gaining exposure to a safe-haven asset like gold can be highly beneficial. And considering that B2Gold (TSX:BTO)(NYSE:BTG) offers one of the most attractive dividends in the space, currently offering a yield of roughly 3.6%, it has to be one of the best Canadian dividend stocks to buy.

The reason B2Gold can offer such an impressive and safe dividend is that it has some of the lowest costs in the industry and earns impressive free cash flow. In fact, in its most recent earnings report, the stock recorded costs that were well below expectations and some of the lowest in the industry.

Therefore, B2Gold is not just one of the best Canadian dividend stocks to buy now. It’s also a high-quality stock that should protect your capital through periods of uncertainty.

The post 3 Canadian Dividend Stocks You Can Buy for Under $10 appeared first on The Motley Fool Canada.

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More reading

TSX Capped Gold Index Fell 11.6%: Is it Time to Buy Gold Stocks?
Best Gold Stock to Buy: B2Gold Again Posts Strong Earnings
3 Lesser-Known Dividend Stocks to Buy Today!
3 Canadian Dividend Stocks With Yields of 5.3% or More
TFSA Investors: 4 Dirt-Cheap Stocks to Buy Now

Fool contributor Daniel Da Costa has positions in B2GOLD CORP. and CORUS ENTERTAINMENT INC., CL.B, NV. The Motley Fool recommends B2Gold.

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