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Summary
- Dividend stocks typically include large-cap stocks that have a track record of offering stable income.
- Pembina Pipeline is an oil transportation company that pays a quarterly dividend of CA$ 0.667.
- Enbridge is another hydrocarbon distribution company that pays a quarterly dividend of CA$ 0.887.
Dividend stocks allow investors to earn an additional cash stream after investing in a stock. This dividend is paid either in the form of cash or as reinvestment into the stock. Dividend stocks are generally large-cap firms and blue-chip organizations.
Some of these dividend-paying stocks also offer growth in dividends and are typically industry leaders. These dividend payments may also be inflation-adjusted as the companies issuing them are large corporations that can regulate their prices as per inflation.
Two such dividend paying stocks listed on TSX include Pembina Pipeline and Enbridge. Here is more about them:
Pembina Pipeline Corporation (TSX:PBA)
As the name suggests Pembina is a transportation company that delivers oil and natural gas through its pipeline products. The company also owns gas processing facilities and the appropriate infrastructure to hold these liquid petroleum productsga.
Pembina provided its financial update for Q1 2023 on May 4, 2023. The company’s earnings during the quarter were CA$ 369 million and the adjusted EBITDA was CA$ 947 million. Meanwhile, the total revenue during the quarter was CA$ 2.297 billion and the gross profit was CA$ 672 million.
© 2023 Krish Capital Pty. Ltd.; Data source: Company Reports
The cash flow from operating activities was CA$ 458 million during Q1 2023. The company has a common share cash dividend for the second quarter of 2023 of CA$ 0.6775 per share.
The company pays a quarterly dividend of CA$ 0.667 and has a dividend yield of 6.189% as on May 15, 2023.
Enbridge Inc. (TSX:ENB)
Enbridge is another oil transportation company that delivers hydrocarbons across the US and Canada. It is also the operator of the largest gas supply company in Canada. The company also has a renewables portfolio that focuses on wind-based projects.
Its financial results for Q1 2023 were released on May 5, 2023. During the quarter, Enbridge’s earnings were CA$ 1.7 billion, which translates to CA$ 0.86 per common share. The cash from operating activities stood at CA$ 3.9 billion.
© 2023 Krish Capital Pty. Ltd.; Data source: Company Reports
The company’s dividend payments of CA$ 0.887 are quarterly and has a dividend yield of 6.813% as on May 15, 2023.
Disclaimer:
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.
