Industrial names generally suffer from deep cyclicality which can affect companies operating in areas ranging from machinery to aerospace to construction. Hence, considering economic volatility is of paramount importance when thinking about an industrials company’s profitability. This impacts cash flows which in turn determines the level of dividend payout. During times of growth, these industrial names could provide a strong boost to your portfolio income. I’ve identify the following industrials stocks paying high income, which may increase the value of your portfolio.

Exco Technologies Limited (TSX:XTC)

XTC has a decent dividend yield of 3.16% and pays out 31.06% of its profit as dividends . The company’s DPS have increased from $0.06 to $0.32 over the last 10 years. They have been dependable too, not missing a single payment in this time.

Ag Growth International Inc. (TSX:AFN)

AFN has a enticing dividend yield of 4.50% and their current payout ratio is 120.92% . AFN’s dividends have seen an increase over the past 10 years, with payments increasing from $1.68 to $2.4 in that time. Much to the delight of shareholders, the company has not missed a payment during this time. Analysts are enthusiastic about the company’s future growth, estimating a 99.35% earnings per share increase in the next three years.

Finning International Inc. (TSX:FTT)

FTT has a good dividend yield of 2.40% and the company currently pays out 75.60% of its profits as dividends . FTT’s DPS have risen to $0.76 from $0.4 over a 10 year period. It should comfort existing and potential future shareholders to know that FTT hasn’t missed a payment during this time. Analysts are optimistic on the company’s earnings in the next 12 months, estimating a 60.61% increase in EPS.

For more solid dividend payers to add to your portfolio, you can use our free platform to explore our interactive list of top dividend payers.
To help readers see pass the short term volatility of the financial market, we aim to bring you a long-term focused research analysis purely driven by fundamental data. Note that our analysis does not factor in the latest price sensitive company announcements.

The author is an independent contributor and at the time of publication had no position in the stocks mentioned.