Breaking News
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

2 Top TSX Dividend Stocks I’d Load Up on Today

Stock MarketsSep 17, 2021 16:15
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
2 Top TSX Dividend Stocks I’d Load Up on Today

Finding top dividend stocks to put in one’s portfolio these days is tricky. Indeed, some stocks have higher yields with higher risk profiles. Others provide less in the way of dividend income and growth but more capital appreciation upside.

For investors seeking top-notch dividend income and growth, I’ve got two great picks. These Canadian companies are some of the best of all dividend stocks in Canada. Indeed, investors everywhere would be remiss to ignore these two income gems.

Let’s dive in.

Top dividend stocks: Fortis For investors seeking income plays in the utilities sector, Fortis (TSX:FTS)(NYSE:FTS) is one of the best options on the TSX. Indeed, this company’s track record of dividend increases is second to none. Every year over (nearly) the past five decades, this company has delivered dividend hikes. This is what makes Fortis stand out among its peers in the industry.

In addition to this company’s stable dividend yield, Fortis’s impressive fundamentals make this company one of the top defensive dividend stocks for long-term investors. Indeed, even in this current economic environment, Fortis is offering a dividend yield of 3.5%.

This dividend is possible due to the stability of Fortis’s balance sheet. Indeed, this stability is largely due to the regulated nature of Fortis’s utilities business. As this utilities company is set to increase its dividend at a 6% clip up till 2025, Fortis’s impressive track record will likely remain intact for at least the next few years.

Furthermore, this company is making progress in the ESG space with an investment of $20 billion in green energy. This is something that long-term investors should take into account today.

TC Energy The Calgary-based energy infrastructure company TC Energy (TSX:TRP)(NYSE:TRP) has provided investors with a lot of stability over the long term. For many years, this company has offered a high dividend payout. At the time of writing, the pipeline operator has a juicy dividend yield of 5.5%. Indeed, this is quite rare for large-cap stocks trading on the TSX right now.

This company’s cash flow position is incredibly stable. And, in my view, it is likely to stay this way for many more years to come. As far as earnings are concerned, the figures in the second quarter were not that impressive. This company reported a drop in net profit during that period. After all, it had to pay an impairment charge of $2 billion owing to the cancellation of its Keystone XL project.

That said, the net income of TC energy stood at $982 million in Q2 2021. Considering the current economic scenario, this year-over-year growth in revenue is quite acceptable. Indeed, for investors in search of an income play in the energy space, TC Energy is a reliable option based on these figures alone.

The post 2 Top TSX Dividend Stocks I’d Load Up on Today appeared first on The Motley Fool Canada.

Fool contributor Chris MacDonald has no position in any stocks mentioned. The Motley Fool recommends FORTIS INC.

This Article Was First Published on The Motley Fool

2 Top TSX Dividend Stocks I’d Load Up on Today
 

Related Articles

Is CP Rail Stock a Buy After Strong Earnings?
Is CP Rail Stock a Buy After Strong Earnings? By The Motley Fool - Oct 27, 2021

One of the companies many investors have on their radar of late, CP Rail (TSX:CP)(NYSE:CP) is an intriguing company to watch. Indeed, CP Rail stock has been on a nice upward...

The 3 Best Energy Stocks to Buy as Gas Prices Soar
The 3 Best Energy Stocks to Buy as Gas Prices Soar By The Motley Fool - Oct 27, 2021

Gasoline prices reached $1.45 a litre in the first week of October according to data from retail analytics firm Kalibrate. This is the highest gas prices have reached since 2014....

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email