The COVID-19 pandemic has changed the nature of the work of millions of Canadians. Of course, many of our dreams are never to work again. One of the first steps to achieving that goal is Passive Income Empire.. This can be achieved by owning a rental property, publishing a book, or opening an e-commerce store. Today, I would like to explore how TFSA investors can eat up passive income with dividend stocks. Let’s dive into.
This Healthcare Stock Offers Great Passive Income
Extendicare (TSX: EXE) Is a Mercum-based company that provides care and services to the elderly across the country. As of the afternoon trading on January 29, 2021 shares fell 7.2%. Stock prices are down 21% year-on-year. Healthcare stocks, especially those for senior care, are well worth targeting during the COVID-19 pandemic.
The company announced its third quarter 2020 results in November. Revenue was $ 296.8 million, up 10% from the previous year. This was partially driven by increased funding for COVID-19. Adjusted EBITDA surged from $ 39.9 million to $ 63.8 million. In addition, adjusted operating capital (AFFO) surged $ 29.1 million year-on-year.
Extendicare shares currently have 11 favorable price-earnings ratios (P / E). Even better, Extendicare offers a monthly dividend of $ 0.04 per share. This is equivalent to a 7.8% yield on monsters. This is a great start for those who are hungry for passive income.
We will add this top REIT to TFSA in February
Northwest Healthcare Properties (TSX: NWH.UN) is another bullish healthcare stock to launch in 2021. This real estate investment trust provides investors with access to a global portfolio of quality healthcare real estate. At the time of this writing, Northwest Healthcare’s share was up 14% year-over-year. The northwest provides attractive passive income and is a valuable defensive stock in this environment.
In the third quarter of 2020, Northwest reported a net operating profit of $ 72.2 million. This increased by 3.4% from the previous year. The occupancy rate of the portfolio was stable at 97.2%. Northwest stocks still have a favorable price-to-book value ratio of 15 and a price-to-book value ratio of 1.5. It now makes it a solid value goal.
Best of all, the stock offers a monthly distribution of $ 0.067 per share. This represents a delicious 6.1% yield.
Energy stock to help build a passive income portfolio
Keyera (TSX: KEY) This is the last dividend stock I would like to see for investors today. The company is engaged in the energy infrastructure business in Canada. Its share has decreased by 25% year-on-year. The COVID-19 pandemic caused energy stocks to plummet. However, improved demand and economic recovery have led to higher oil and gas prices.
This energy stock Strong passive income.. In the third quarter of 2020, Keyera reported adjusted EBITDA of $ 705 million over the year-to-date period. This is an increase from $ 683 million in the same period in 2019. Distributable cash flow was $ 586 million or $ 2.66 per share, up from $ 435 million or $ 2.04 per share. Keyera offers a monthly dividend of $ 0.16 per share, which is a great yield of 7.9%.
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Stupid contributor Ambrose O’Callahan There are no positions in any of the listed stocks. Motley Fool recommends KEYERA CORP and NORTHWESTHEALTHCARE PPTYS REIT UNITS.
The best passive income strain to add to TFSA
https://www.fool.ca/2021/01/31/the-best-passive-income-stocks-to-add-to-your-tfsa/ The best passive income strain to add to TFSA