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Headlines:
- BCE Stock: BCE (TSX:BCE) offers an 8.8% dividend yield with growth potential through its digital media and operational efficiency focus.
- Superior Plus Stock: Superior Plus (TSX:SPB) provides an 8.8% dividend yield, driven by strong first-quarter performance and investments in cleaner fuels.
- Investment Opportunity: BCE and Superior Plus are high-yield TSX stocks with strong potential for long-term growth and consistent dividends.
Are you searching for TSX stocks that offer substantial and consistent payouts? Ultra-high-yield dividend stocks could be exactly what you need. Many fundamentally strong companies listed on the Toronto Stock Exchange provide impressive dividends that can enhance your income and offer financial stability. As July draws to a close, several dividend stocks are worth considering for their potential to deliver attractive returns and a reliable income stream, helping you navigate market volatility.
BCE Stock (TSX:BCE)
(TSX:BCE) is one of the top dividend stocks in Canada that you might want to add to your portfolio right now. This Verdun-based telecom giant currently has a market cap of $41.5 billion, with its stock trading at $45.34 per share, down about 13% year-to-date. The recent decline in BCE’s share price has made its annualized dividend yield of 8.8% even more appealing.
BCE is expected to announce its second-quarter results in the first week of August. Its first-quarter results demonstrated a strategic focus on operational efficiencies and innovative offerings. Despite facing economic and competitive pressures, BCE’s adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) for the first quarter rose 1.1% year-over-year to $2.6 billion, primarily due to reduced operating costs. This allowed the company to exceed expectations and achieve an adjusted EBITDA margin of 42.7%, a 0.8% improvement year-over-year. Additionally, Bell Media, a BCE subsidiary, saw digital revenue grow significantly by 33%, thanks to strong performance in digital platforms and advertising technology.
BCE’s gradual strategic shift towards digital media and technological solutions is likely to drive revenue growth and operational efficiencies in the coming years, positioning this high-yield dividend stock to outperform the broader market.
Superior Plus Stock (TSX:SPB)
(TSX:SPB) is another high-yield dividend stock to consider in July. This Toronto-based company focuses on distributing propane, compressed natural gas (CNG), and other energy products. It has a market cap of $2 billion, with its stock trading at $8.07 per share, down nearly 16% year-to-date. Similar to BCE, Superior Plus offers an impressive annualized dividend yield of 8.8% at its current market price.
Strength in its propane business and strong performance from its subsidiary, Certarus, helped Superior Plus achieve a record first-quarter adjusted EBITDA of $235.6 million, reflecting a roughly 15% year-over-year improvement. Although warmer weather impacted demand, the company’s U.S. propane segment still managed to post positive growth in adjusted EBITDA.
While recent declines in energy product prices could impact Superior's short-term profitability, its investment in cleaner fuel alternatives and continued focus on stable energy solutions and market expansion enhance the stock’s long-term financial growth outlook, potentially driving its share prices higher.
