Telus’ 9% dividend yield looks tempting — but CIBC, SmartCentres and Leon’s are the TSX income names in play

Motley Fool Canada’s Joey Frenette pointed out that investors attracted to Telus Corp’s roughly 9% dividend yield should weigh options carefully and consider Canadian Imperial Bank of Commerce for a more stable income stream. He noted Telus has paused dividend growth until certain internal goals are met. Meanwhile, CIBC offers about a 3.4% yield and trades at roughly 13.3 times forward earnings, a valuation based on expected profits. Frenette also highlighted that although CIBC’s shares have jumped since late 2023, the bank’s sizable Canadian mortgage portfolio remains a critical risk factor.