When most U.S. investors think of banks, names like Citigroup (NYSE: C) and Bank of America (NYSE: BAC) probably come to mind first. That's understandable given their massive size and reach. But dividend investors looking to add bank stocks to their portfolios might want to consider a couple of institutions that are likely far less familiar to them: Canadian majors Bank of Montreal (NYSE: BMO) and Toronto-Dominion Bank (NYSE: TD).

Bank of Montreal, aka BMO, and Toronto-Dominion Bank, or TD Bank, naturally pay their dividends in Canadian dollars. So the actual payouts U.S. investors receive will fluctuate based on currency exchange rates. And there are Canadian taxes that have to be paid on those dividends, though at least a portion (and in some cases, all) of those can be recouped via U.S. tax credits come April 15. That said, both of these institutions offer higher yields than many of their U.S. counterparts.

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Source Fool.com