For traders searching for passive revenue, dividend shares are among the many finest autos over the long run to be thought of. Listed below are three Canadian dividend shares I’m taking a look at right this moment.

Suncor

Considered one of my high picks within the Canadian vitality sector continues to be Suncor (TSX:SU).

Shares of the oil sands big have been making a strong trek larger, up greater than 13% over the previous 12 months alone. Now, I believe this can be a development that may proceed, significantly as home vitality manufacturing stays key to the North American vitality independence story.

Other than issues round geopolitics and commerce coverage from the U.S., Suncor’s underlying operational energy and its capacity to be worthwhile in a a lot decrease oil worth atmosphere place traders effectively. With a dividend yield of three.9% and a strong steadiness sheet, Suncor stays one among my high methods for traders to realize publicity to the oil & fuel sector proper now.

Fortis

Utility big Fortis (TSX:FTS) continues to be one among my high picks for dividend-growth traders, significantly as a result of Fortis has one of many longest dividend hike monitor information on the TSX. With greater than 5 a long time of such will increase below its belt, traders can relaxation assured that they won’t solely obtain the identical dividends they’ve previously, however that their passive revenue will develop over time.

The corporate’s 3.6% dividend yield is significant, however it’s additionally supported by one of the crucial strong steadiness sheets within the sector. And at a valuation of simply 20 occasions earnings, there’s a powerful worth argument to be made for this utility identify as effectively.

If the bogus intelligence revolution actually does convey in regards to the form of surge in energy demand so many anticipate, Fortis and its friends will actually need to ramp up their manufacturing and supply of pure fuel and electrical energy over time. That ought to bode effectively for traders who need to get in entrance of this commerce proper now.

Agnico Eagle

Now, for a extra compelling choose for a lot of traders seeking to reap the benefits of what’s been an unimaginable run within the worth of gold and different valuable metals/commodities. Agnico Eagle (TSX:AEM) is a high Canada-based gold miner and one of many largest on the planet. Nonetheless, the corporate doesn’t carry the identical cachet as different high miners on this house, and I believe it’s comparatively neglected because of this.

That stated, taking a look at Agnico’s inventory chart above, it’s clear that there’s loads of momentum available with this high gold miner. The factor is, I believe the underlying rally in each the value of gold and gold miners as an entire is way from over. That’s partly as a result of some evaluation I learn lately, which stated that if your entire gold provide have been priced in the same method to Bitcoin, gold must be value a lot nearer to $10,000 an oz than the place it at present trades (nearing the $4,000 stage presently).

I’m not somebody who’s prone to be outlined as a “gold bug.” Nonetheless, I’m additionally somebody who understands the hedging worth gold supplies, in addition to its essential use as a forex backdrop for a lot of central banks all over the world in search of forex stability.

On this atmosphere, Agnico Eagle is how I’d proceed to play the rising worth of gold for these so inclined to take action.