Business & Investment

Boost your passive income with these three high-yielding dividend stocks

Investing in high-yielding dividend stocks is the cheapest and most convenient way to earn passive income due to its low transaction costs and high liquidity. It also strengthens the portfolio as dividend stocks tend to outperform the market during a recession. So if you’re going to invest in dividend stocks, here are the three top TSX stocks you can buy right now.

Embridge

Embridge (TSX: ENB)(NYSE: ENB)An energy infrastructure company, has helped shareholders by paying dividends. 66 years in a row.. We have also increased dividends at an annual growth rate of 10% for the past 26 consecutive years. Last month, the company’s management announced a 3% increase in the 2021 dividend to $ 3.34 per share. That’s an attractive dividend yield of 7.6%.

Enbridge’s cash flow is nearly stable and predictable, with approximately 98% of adjusted EBITDA coming from long-term contracts with creditworthy trading partners. In addition, the company plans to invest $ 16 billion in a secure growth capital program, which could increase adjusted EBITDA by $ 2 billion from 2023. For increasing oil demand.

Given the predictable cash flow, sound growth prospects, and strong liquidity position of $ 14 billion, Embridge’s dividends are safe.So i believe Embridge will be a great buy for income-seeking investors..

Northwest Healthcare Property REIT

With the growing middle class and aging population, I think the global healthcare market is projected to grow at a healthier rate in the coming years. Northwest Healthcare Property REIT (TSX: NWH.UN), this is my second option investing in defensive healthcare real estate.

The company has a healthy occupancy rate of 97.2% and a weighted average lease term of 14.5 years. The company has recovered or officially postponed 97.6% of its revenue, and the recovery rate remains strong. Meanwhile, the company’s collection grew to 98.1% in October. In addition, it is encouraging that 73% of revenue is from the inflation index and 80% of customers receive public health care.

NorthWest Healthcare has $ 384 million worth of high quality projects in its pipeline, in addition to last year’s acquisitions in Europe and Australia. So, given defense investment and high growth prospects, I think the company’s dividends are safe. The company currently pays a monthly dividend of $ 0.067 per share, equivalent to a sound dividend yield of 6.1%.

BCE

I chose BCE (TSX: BCE)(NYSE: BCE), My third option is one of Canada’s largest carriers. Since its release in 1983, we have consistently paid dividends. Thanks to the strong underlying business, we have increased dividends at an annual growth rate of 5% for the past 11 consecutive years. The company is currently paying a quarterly dividend of $ 0.8325. This equates to an annual dividend of $ 3.33 per share and a dividend yield of 6%.

Despite the pandemic impact, the company added over 200,000 new connections across its wired and wireless segments in the last quarter of September. It also generated $ 1.03 billion in free cash flow during the quarter, despite reduced roaming revenue due to pandemic regulation.

Meanwhile, the spread of vaccines could lift travel restrictions and increase BCE roaming income. We are also expanding 5G networks and advanced broadband internet services to rural and urban areas of Canada, which has the potential to boost our finances in the coming years. The company’s financial position also looks healthy, with liquidity reaching $ 5.2 billion at the end of the third quarter. Therefore, given a recession-resistant business model, stable cash flow and sound liquidity, I think BCE dividends are safe.

On the other hand, if you are looking for high growth stocks to invest in, the following report will be very helpful.

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Motley Fool owns and recommends a stake in Enbridge. Motley Fool recommends NORTHWEST HEALTHCARE PPTYS REIT UNITS. A stupid contributor, Rajiv Nanjapla, does not have a position in any of the shares mentioned.

Boost your passive income with these three high-yielding dividend stocks

https://www.fool.ca/2021/01/26/boost-your-passive-income-with-these-3-high-yielding-dividend-stocks/ Boost your passive income with these three high-yielding dividend stocks

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