Adding some excellent high-yield dividend stocks to your investment portfolio can help grow your wealth. Fortunately, there are plenty of stocks available in the market for us to choose from. Here are some high-yielding dividend stocks that you can buy now and hold for decades.
Starting with Defensive Stocks that Offer Generous Income
Enbridge (TSX: ENB) is the first stock that investors should consider right now. This high-yield stock boasts a yield as high as 7.52%, making it one of the currently high-yielding stocks.
This yield means that by investing $35,000 in the company, investors can expect to receive over $2,640 in income in the first year. What’s even better is that the company has been paying dividends to investors every year for over thirty years and is likely to continue this tradition.
Enbridge is well-known for its extensive pipeline network that transports large volumes of crude oil and natural gas. Oil pipelines account for a significant portion of the company’s revenue. The company also has renewable energy and natural gas utility businesses. The renewable energy business includes over 40 facilities across Europe and North America, including solar and wind power. Additionally, these facilities are bound by long-term regulatory contracts, making them a defensive choice for investors. Over the past two decades, the company has invested over $9 billion in this sector.
Regarding Enbridge’s natural gas business, the company is the largest natural gas utility company in North America with 7 million customers. This also makes the company a defensive stock to consider. Despite this, Enbridge’s stock price has fallen over 15% in the last two years. This alone makes it an excellent investment for buying high-yield stocks.
When it comes to high-yield dividend stocks, one cannot ignore BCE, a Canadian telecommunications company. BCE is one of the largest telecommunications companies in Canada and is currently one of the most defensive stocks to consider.
Due to its defensive business model, the telecom industry is a great long-term investment. In simple terms, subscription-based services offered by telecom providers have become increasingly essential in recent years. This includes wireless and home internet connections, which have increased in importance since the outbreak of the pandemic.
BCE also offers a large media business, providing the company with another source of income. Nonetheless, the company’s stock price has recently dropped to new lows in the last few weeks. In fact, as of the time of writing, BCE’s stock price has fallen to levels unseen in a decade. Meanwhile, the decrease in stock price has also pushed BCE’s quarterly yield to an impressive 8.58%. For example, with an investment of $35,000, investors can expect to receive an income of over $3,120.
Like Enbridge, BCE has been distributing generous dividends to investors annually. Interestingly, for over a century, BCE has been paying dividends to investors consistently without interruption.
