Canadian Investors: Boost Your Passive Income With These 4 Safe Dividend Stocks

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Although the Canadian benchmark index, the S&P/TSX Composite Index, is buying and selling nearer to its peak, the rising COVID-19 instances are a reason for concern. So, buyers might strengthen their portfolios by investing within the following 4 protected dividend shares, which have secure money flows and wholesome progress prospects.
Enbridge (TSX:ENB)(NYSE:ENB) operates over 40 various income sources, with regulated property or long-term contracts contributing round 98% of its adjusted EBITDA. So, the corporate’s money flows are secure, thus permitting it to pay a dividend uninterrupted for the final 66 years. Meanwhile, the corporate has additionally raised its dividend for the final 26 straight years at a CAGR of over 10%, which is encouraging.
Further, Enbridge is constant with its secured capital program, with round $9 billion anticipated to spend over the following two-and-a-half years. These investments might increase the corporate’s midstream and renewable property. Along with these investments, the restoration within the vitality sector might increase the corporate’s financials within the coming quarters. Meanwhile, it presently pays quarterly dividends of $0.835 per share, with its ahead yield standing at a gorgeous 6.72%. So, Enbridge could be a superb addition to your portfolio.
Pembina Pipeline
Pembina Pipeline (TSX:PPL)(NYSE:PBA) is one other inventory income-seeking buyers ought to have of their portfolios. With a major quantity of its adjusted EBITDA generated from take-or-pay, cost-to-service, and fee-for-service contracts, the corporate has much less publicity to commodity price fluctuations. So, its money flows are largely secure, permitting it to reward its shareholders with a month-to-month dividend persistently. Overall, it has paid $10.1 billion in dividends since its inception in 1997. Its ahead dividend yield presently stands at a gorgeous 6.25%.
Meanwhile, the corporate has a considerable backlog with $900 million of initiatives beneath building. The enchancment in vitality demand and better oil costs might additionally increase its financials within the coming quarters. So, given its wholesome progress prospects, regular money flows, and robust liquidity, I consider Pembina Pipeline’s dividend is protected.
NorthWest (*4*)
Third on my listing is NorthWest (*4*) Properties REIT (TSX:NWH.UN), which pays month-to-month dividends at a wholesome ahead yield of 6.21%. It operates extremely diversified healthcare properties throughout a number of international locations and enjoys a excessive occupancy and assortment price. Further, its long-term contracts, government-backed tenants, and inflation-indexed rents present stability to its financials.
Meanwhile, NorthWest (*4*) additionally seems to increase its footprint in Europe and Australia and has just lately raised round $200 million. The firm is presently engaged on buying the Australian Unity (*4*) Property Trust and 4 healthcare amenities within the Netherlands. These acquisitions might increase its money flows within the coming quarters, permitting the corporate to proceed paying dividends at a wholesome price.
Amid digitization, the demand for sooner and dependable web service is rising. So, the appearance of 5G is a major progress driver for telecommunication companies. So, I’ve picked BCE (TSX:BCE)(NYSE:BCE) as my closing choose. In its just lately introduced second quarter, its high line and adjusted EBITDA grew by 6.4% and 6.2%, respectively. The firm has added 115,916 web new prospects during the last 4 quarters. The firm’s monetary place additionally seems wholesome, with its liquidity standing at $5.3 billion.
Meanwhile, BCE has accelerated its capital spending on increasing its high-speed broadband community and 5G service. It expects to supply 5G service to 70% of the Canadian inhabitants by the tip of this 12 months. Along with these investments, beneficial market situations might increase the corporate’s financials within the coming quarters. Meanwhile, BCE pays a quarterly dividend of $0.875 per share, with its ahead dividend yield standing at 5.51%.

This article represents the opinion of the author, who might disagree with the “official” advice place of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one among our personal — helps us all assume critically about investing and make selections that assist us turn into smarter, happier, and richer, so we typically publish articles that might not be consistent with suggestions, rankings or different content material.

The Motley Fool owns shares of and recommends Enbridge. The Motley Fool recommends NORTHWEST HEALTHCARE PPTYS REIT UNITS and PEMBINA PIPELINE CORPORATION. Fool contributor Rajiv Nanjapla has no place in any of the shares talked about.

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