Hillcrest Energy Technologies. (CSE: HEAT)
From concept to commercialization, Hillcrest is investing in the development of energy solutions that will power a more sustainable and electrified future.
Currently, the market is filled with excellent high-yield dividend stocks. Some of these stocks offer significant long-term appeal for both new investors and seasoned investors with long-term investment plans. Are you looking for Canadian high-yield stocks? This article will introduce two high-yield dividend stocks that currently offer impressive yields.
The first is BCE Inc. (TSX: BCE), Canada’s largest telecommunications company. Despite the defensive appeal of telecommunications, BCE’s stock price has plummeted by 26% year-to-date, with nearly a 15% drop just this week. Part of the decline in stock price can be attributed to rising interest rates and BCE’s excessive debt levels. In response to this issue, BCE has announced a series of drastic business cutbacks.
Adding to the challenges, BCE recently sold its stake in Maple Leaf Sports & Entertainment for $4.2 billion. Subsequently, the company acquired the American internet provider Ziply Fiber, leading to some turmoil, including the decision to suspend dividend increases. As a result, the stock price fell nearly 10% in a single day this week. Consequently, the dividend yield has soared to 9.6%.
Like with any signs of volatility, long-term investors need to focus on the big picture. Even if dividend growth slows for a few years, BCE remains one of the higher-return options in the market.
More importantly, the Ziply transaction has the potential to drive the company’s growth in the coming years. In other words, BCE is undergoing a transformation that will take years to realize. Long-term investors can still purchase a small number of BCE shares at a significant discount, enjoy dividends, and wait for the expected rise in stock prices.
Next is the energy infrastructure giant Enbridge (TSX: ENB), whose operations span several verticals, including utilities, pipelines, and renewable energy. These sectors generate a growing source of revenue, leaving room for investment growth and the payment of generous dividends. As of the time of writing, this stock boasts an impressive dividend yield of 6.32%, and Enbridge has been increasing its dividend annually for thirty years.
In other words, Enbridge shares are a great buy for any portfolio catering to both defensive and growth-oriented investors.
No stock is without risk, including the high-yield dividend stocks mentioned above, so the importance of diversification cannot be overstated.
