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.
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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.
