Barrick (ABX), CSU & WCN: Should you buy these TSX dividend stocks?

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Barrick (ABX), CSU & WCN: Should you buy these TSX dividend stocks?

TSX dividend stocks
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Highlights

  • Dividend income could be a choice for those investors not looking to actively trade
  • The TSX performed well last year, but this year, the YTD so far has not been very impressive
  • Not all stocks pay dividends to their shareholders, and the quantity and frequency of the dividend may also be different in the case of dividend-paying stocks

The share market is not just about buying and selling stocks. If an investor sells the holding when the price of shares has appreciated, it leads to capital gains. But not every investor may want to actively trade in shares. Instead, some may be interested in earning while holding the share, which is possible if the stock pays a dividend.

Not all stocks pay dividends to their shareholders, and the quantity and frequency of the dividend may also be different in the case of dividend-paying stocks. Today, let’s look at three dividend-paying TSX stocks, which relate to different industries.

1. Barrick Gold Corporation (TSX:ABX)

Barrick Gold’s stock features on the list because it deals in the precious metal, gold, and during times when the central banks are raising rates, some investors may prefer safe havens like gold. The company holds mining interests in multiple continents, and it is said to be one of the largest gold producers in the world.

Barrick Gold’s net earnings in the fourth quarter of 2021 stood at US$726 million, as compared to net earnings of US$347 million in the previous quarter. For the full year of 2021, the company’s net earnings was over US$2 billion.

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Barrick Gold Corporation is a dividend-paying stock with a quarterly payout frequency. The Barrick Gold stock has a dividend yield of 1.67 per cent, and it last declared a dividend of US$0.1 per share on February 16. The stock has a market cap of nearly C$54 billion. The share closed at C$30.40 on March 17, against a 52-week high price of C$33.50.

2. Constellation Software Inc. (TSX:CSU)

This Canada-based company deals in software services. Constellation Software has interests in multiple continents.

The company, in its latest financial statement, reported that its revenue rose from nearly US$1.09 billion in Q4 2020 to nearly US$1.38 billion in Q4 2021. On the contrary, net income attributable to common shareholders dipped by 17 per cent in Q4 2021 as compared to Q4 2020. For the full year of 2021, the company reported a rise of 29 per cent in its revenue as compared to 2020.

Constellation Software Inc. is also a dividend-paying TSX stock with a quarterly payout frequency. The Constellation Software stock has a dividend yield of 0.236 per cent, and it last declared a dividend of US$1 per share on February 10. It has a market cap of nearly C$45.7 billion. The share closed at C$2,160.82 on March 17, as against the 52-week high price of $C2,385.80.

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3. Waste Connections Inc. (TSX:WCN)

While the world debates climate change, emissions and plastic pollution, waste management is a crucial topic. Waste Connection Inc. is a leading solid waste and recycling company in North America.

For the fourth quarter of 2021, the company reported a revenue of nearly US$1.62 billion, while the net income was US$166 million. Revenue of the company for the full year of 2021 was nearly US$6.15 billion, which was up 13 per cent as compared to the previous year.

Waste Connections Inc. also pays quarterly dividends to its shareholders. The Waste Connections stock has a dividend yield of 0.67 per cent, and it last declared a dividend of US$0.23 per share on February 16. It has a market cap of nearly C$44.7 billion. The share closed at C$173.86 on March 17, against a 52-week high price of C$176.12.

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Bottom line

A lot of investors may be interested in dividends as it allows regular income by holding the shares. These three dividend-paying TSX shares come from different industries. But any stock needs to be studied deeply as well as its respective sector before it merits investing.

Please note, the above content constitutes a very preliminary observation based on the industry, and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.

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