10 dividend stocks to buy & hold in July

Dividends are considered to be a key monitorable by some equities investors. The ability of a stock to pay a high dividend, some traders feel, adds to its popularity.

On that note, let’s list out some dividend-paying companies that have a high dividend yield.

Labrador Iron Ore Royalty Corporation (TSX:LIF)

Labrador Iron Ore Royalty ranks high on the TSX for its dividend yield, which currently stands at 14.903 per cent.

The company last announced a C$ 1.75 quarterly dividend per share, which is payable on July 26, 2021.

The C$ 3-billion market cap corporation earns its revenues through equity investments in the Iron Ore Corporation of Canada, which has worldwide operations.

 

Enbridge Inc. (TSX:ENB)

Enbridge, one of Canada’s largest companies in the energy sector, has a quarterly dividend of C$ 0.835, which was last paid on June 1, 2021. Its current yield is 6.73 per cent.

Stocks of the C$ 100-billion market cap energy company grew 21.9 per cent in year-to-date (YTD), as against the S&P/TSX Oil & Gas index that fell 8.80 per cent in the same period.

 

Exchange Income Corp (TSX:EIF)

Exchange Income Corp is a diversified acquisition-focused player that primarily invests in aerospace, aviation services and manufacturing industries.

The company has a monthly dividend of C$ 0.19 per share, with a dividend yield of 5.72 per cent. It will be payable on July 15, 2021.

The transportation industry stock returned over 49 per cent in the last one year,.

Keyera Corp. (TSX:KEY)

Keyera Corp, an oil and gas company, has a dividend yield of 5.764 per cent. It pays a dividend of C$ 0.16 per share on a monthly basis. The dividend will be payable on July 15, 2021.

The C$ 7.3-billion market cap company holds earnings per share (EPS) of C$ 0.28, while its return of equity (ROE) stands at 2.18 per cent.

BCE Inc. (TSX:BCE)

One of Canada’s largest telecommunication service providers, BCE presently holds a dividend yield of 5.726 per cent.

The telecom player has a quarterly dividend of C$ 0.875 per share, which will be payable on July 15, 2021.

The C$ 55.3-billion market cap company holds an EPS of C$ 2.72, and has a price-to-earnings (P/E) ratio of 22.50. The company offers 13.26 per cent return on equity, and a 3.79 per cent return on assets.

BCE stock rose 7.97 per cent in the last one year.

@Kalkine Image 2021

 

Gibson Energy Inc. (TSX:GEI)

Gibson Energy is a C$ 3.48 billion market cap company operating in the oil and gas industry across in Canada and the US.

It pays a dividend of C$ 0.35, set to be payable on July 16, 2021, and currently posts a dividend yield of 5.895 per cent.

The energy company has a P/E ratio of 33.80, a price-to-book (P/B) ratio of 5.22 and a debt-to-equity (D/E) ratio of 2.40, as per TMX.

Gibson Energy stock closed at C$ 23.75 on Wednesday, June 30, about 12 per cent lower than its 52-week high of C$ 26.98 (June 11, 2021).

 

Extendicare Inc. (TSX:EXE)

The healthcare services company holds a notable dividend yield of 5.64 per cent. Its monthly dividend of C$ 0.04 per share is set to be payable on July 15, 2021.

Extendicare stock recorded a 51.69 per cent growth in the last one year, outperforming the S&P/TSX Health Care Providers & Services (Industry) Index that rose 1.17 per cent during the same period.

The healthcare company has a C$ 762 million market cap and an EPS of about C$ 0.62.

 

TC Energy Corporation (TSX:TRP)

The oil and gas industry player posts a dividend yield of 5.673 per cent at present, as per TMX. Its quarterly dividend of C$ 0.87 is set to be payable on July 30, 2021.

TC Energy holds a 30-day average trading volume of 4.76 million shares. Its stock grew 18.53 per cent YTD.

 

Freehold Royalties Ltd. (TSX: FRU)

Freehold Royalties, an oil and gas company, pays monthly dividend of C$ 0.04 per share. Its current dividend yield is 4.913 per cent.

Freehold stock grew  87.52 per cent this year, beating the S&P/TSX Oil & Gas Exploration & Production (Sub Industry) Index’s growth of 19.91 per cent in the same period.

 

Canadian Utilities Limited (TSX:CU)

A regulated utilities company, Canadian Utilities Limited has a dividend yield of 5.114 per cent. Its quarterly dividend, set at C$ 0.44 per share, was last distributed on June 1, 2021.

The utilities company offers an EPS of C$ 1.26, a 27.40 P/E ratio, and a 1.786 P/B ratio. Its ROE stands at 8.13 per cent, as per TMX.

At its closing price of C$ 34.40 on June 30, the company had a market capitalization of C$ 9.3 billion.

 

The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.

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