Canadian Dividend Stocks Weather Rate Hikes

The Federal Reserve's recent interest rate hike has pushed borrowing costs to a range of 3.75% to 4%, while the U.S. dollar has strengthened again.

For Canadian income investors, this means cash and bonds may look more attractive than usual, but there are still opportunities in high-yield dividend stocks with growing payouts.

Sun Life Financial (TSX:SLF) is one such stock, with a global presence in life and health insurance, wealth management, and asset management that generate recurring income.

The company's operations span Canada, the U.S., Asia, and other regions, with CA$62.9 billion in market capitalization.

Sun Life Financial's diversified business mix supports a reliable income stream for investors, but one potential pressure on its future margin profile is yet to be seen.