Investing in blue-chip dividend stocks that offer a tasty forward yield can help you begin a recurring income stream at a low cost. While Canada has several dividend-paying stocks, just a handful of these companies have showcased an ability to maintain and grow their payouts across market cycles. One such TSX dividend stock that offers you a dividend yield of almost 5% is Great-West Lifeco (TSX:GWO). Let’s dive deeper.
An overview of Great-West Lifeco
Great-West Lifeco is among the largest companies in Canada, valued at $42 billion by market cap. A financial services holding company, Great-West is engaged in segments such as life and health insurance, retirement and investment services, asset management, and reinsurance.
With a sizeable presence in the U.S., Canada, and Europe, Great-West offers a portfolio of financial and benefit plan solutions, such as life, disability, critical illness, accidental death, and health and…
