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Canadian dividend stocks allow investors to build a passive-income stream as well as generate wealth via capital gains over the long term. A dividend-paying company should be able to generate stable cash flows across business cycles that will help them maintain and increase payouts over time. We’ll look at three such Canadian dividend-paying stocks that have yields over 3%.
Brookfield Renewable Power
One of the largest renewable power companies in the world is
Brookfield Renewable Power (TSX:BEP.UN)(NYSE:BEP). Its renewable capacity stands at 10 gigawatts (GW) with an annualized long-term average generation of 56,300 GW hours which is enough to power around 5.3 million homes in the U.S. each year.