Got $1,000? Buy These 3 High-Yielding Dividend Stocks

Given their healthy growth potential and stable cash flows, these three dividend stocks could be excellent buys in this volatile environment.

money cash dividends

Image source: Getty Images

With the U.S. and European countries announcing lower-than-expected sanctions, the S&P/TSX Composite Index bounced back strongly to close the week 0.5% higher. However, the Russia and Ukraine war is far from over. The prolonged war could have a severe impact on the global equity markets.

So, given the uncertain outlook, I believe investors should accumulate the following three dividend stocks, which pay dividends at higher yields. Given their stable and frequent payouts, these companies are less susceptible to market volatilities.

Enbridge

Earlier this month, Enbridge (TSX:ENB)(NYSE:ENB) had reported a strong 2021 performance, with its adjusted earnings per share growing by 13.2% to $2.74. Its adjusted EBITDA also increased from $13.3 billion to $14 billion while generating distributable cash flows of $10 billion. The company had put $10 billion of projects into service last year, which could boost its 2022 EBITDA. Enbridge’s management expects its 2022 adjusted EBITDA to come in the range of $15-$15.6 billion.

Further, the company is advancing with its $10 billion secured growth program, which could drive its discounted cash flow per share by 5%-7% through 2024. So, I believe Enbridge is well-equipped to continue raising its dividends in the coming years. The Dividend Aristocrat, which has increased its dividend for the last 27 years, currently pays a quarterly dividend of $0.86 per share. Meanwhile, its forward yield stands at an impressive 6.36%. I believe Enbridge would be an excellent addition to your portfolio in this volatile environment.

NorthWest Healthcare Properties REIT

NorthWest Healthcare Properties REIT (TSX:NWH.UN) could be another high-yielding dividend stock to have in your portfolios during this uncertain environment. It owns and operates well-diversified health care facilities spread across seven countries. iIs long-term agreements and inflation-indexed rent generate stable and predictable cash flows, irrespective of the state of the economy. These robust cash flows have allowed the company to pay dividends at a healthier yield. Currently, its forward yield stands at a juicy 5.84%.

Meanwhile, through new project development and acquisitions, NorthWest Healthcare is expanding its footprint in Australia, Europe, Brazil, and Canada. It also has around $1 billion projects under the developmental pipeline. It has also strengthened its balance sheet by divesting non-core assets and raising funds through issuing additional shares. Given its solid liquidity, high-growth prospects, and stable cash flows, I believe NorthWest Healthcare’s dividends are safe.

BCE

My final pick is BCE (TSX:BCE)(NYSE:BCE). Supported by its growing customer base and substantial cash flows amid revenue generated from its recurring sources, the company has raised its dividends by over 5% annually for the last 14 years. Its forward yield currently stands at 5.48%.

After adding 1 million home internet locations one year ahead of schedule, BCE expects to add an additional 900,000 more home and business connections this year through its accelerated capital investment program. Also, the company, which provides 5G service to 70% of the Canadian population, looks to expand the service to the remaining parts of the country. Given its healthy growth potential, its management expects its adjusted EPS and cash flows to grow over 2% this year. So, I believe BCE is well-equipped to continue with its dividend growth.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

The Motley Fool recommends Enbridge and NORTHWEST HEALTHCARE PPTYS REIT UNITS. Fool contributor Rajiv Nanjapla has no position in any of the stocks mentioned.

More on Dividend Stocks

hand stacks coins
Dividend Stocks

3 Ultra-High-Yield Dividend Stocks You Can Buy and Hold for a Decade

These three high-yield dividend stocks still have some work to do, but each are in steady areas that are only…

Read more »

senior man and woman stretch their legs on yoga mats outside
Dividend Stocks

TFSA: 2 Canadian Stocks to Buy and Hold Forever

Here are 2 TFSA-worthy Canadian stocks. Which one is a good buy for your TFSA today?

Read more »

calculate and analyze stock
Dividend Stocks

This 5.5% Dividend Stock Pays Cash Every Single Month!

This REIT may offer monthly dividends, but don't forget about the potential returns in the growth industry its involved with.

Read more »

Silver coins fall into a piggy bank.
Dividend Stocks

How to Use Your TFSA to Earn up to $6,000 Per Year in Tax-Free Passive Income

A high return doesn't mean you have to make a high investment -- or a risky one -- especially with…

Read more »

path road success business
Dividend Stocks

2 High-Yield Dividend Stocks to Buy Hand Over Fist and 1 to Avoid

High yields are great and all, but only if returns come with them. And while two of these might, another…

Read more »

Man holds Canadian dollars in differing amounts
Dividend Stocks

This 7% Dividend Stock Pays Cash Every Month

A high dividend yield isn't everything. But when it pays out each month and offers this stability, it's worth considering!

Read more »

young people stare at smartphones
Dividend Stocks

GST/HST “Vacation”: Everything Canadians Need to Know

The GST/HST "vacation" is a little treat for the holidays, along with a $250 payment. What should you do with…

Read more »

Train cars pass over trestle bridge in the mountains
Dividend Stocks

Is CNR Stock a Buy, Sell, or Hold for 2025?

Can CNR stock continue its long-term outperformance into 2025 and beyond? Let's explore whether now is a good time to…

Read more »