However I've tried to build a portfolio of high yielding companies for short term gain, with the aim of using the profits to buy more reliable dividend growers in a year or two.
So far my portfolio includes CJ, KWH.UN, CUF.UN, CJR.B, BRE, TNT.UN, CWX, CBL, DGS, INC.UN as well as ALA, CHR, EIF, CM, ENB.
CBL was a bad buy. But I'm happy with all the others even if ENB, CJR.B and KWH.UN have had a rough ride recently. I collect 9.5% in dividends, and I'm up on capital gains too. Except for CUF.UN, they all have reasonable payout ratios, KWH.UN, BRE, INC.UN, CM, ALA have all increased dividends, and they have decent fundamentals from what I gather. If you're going to chase high yield, there's a lot more risk involved and timing becomes more important. You're buying companies with a distressed SP. For example EIF was the target of a short attack by Cohodes, ALA made a major acquisition, TNT.UN issued a bought deal lower than the trading price, CUF.UN had cut distributions, bears have control of the energy sector...etc. But I'm young, I can accept the risk, and I enjoy getting paid handsomely to wait for the stock to shake off the uncertainty that has distressed it.