Dividend investors are constantly searching for top names to add to their income or retirement-planning portfolios.
Enbridge recently closed its $37 billion purchase of Spectra Energy.
The deal creates an energy infrastructure giant with liquids pipelines, natural gas pipelines, gas utilities and renewable energy assets spread across Canada and throughout the United States.
Enbridge now has a near-term development portfolio of $27 billion and an additional $48 billion of longer-term projects in the pipeline.
As the new assets are completed and go into service, Enbridge expects cash flow to grow enough to support dividend increases of at least 10% per year through 2024.
The current quarterly payout provides a yield of 4.6%.
BCE also wrapped up an acquisition in recent months.
The company bought Manitoba Telecom Services in a move that makes BCE the top player in the Manitoba market and positions the giant for an extended push into the western provinces.
Over the past decade, BCE has also built a large media division, which includes a television network, specialty channels, radio stations, sports teams, and an advertising business.
In addition, BCE has a significant retail presence right across the country.
Long-time owners of the stock initially had some concerns with the diversification into the media and retail segments, but the communications world is changing, and the timing of the move now appears to be well planned.
When combined with the world-class wireless and wireline network infrastructure, these assets create a powerful communications business that interacts with most Canadians on a regular basis.
In fact, any time a person in the country watches TV, streams a movie, downloads a song, sends a text, checks e-mail, listens to the news, or calls a friend, the odds are pretty good that BCE is involved somewhere along the line.
The company generates significant free cash flow and pays a lucrative dividend. The current yield is 4.7%.
Is one more attractive?
Both stocks are proven buy-and-hold dividend picks.
At this point, Enbridge probably offers stronger dividend growth over the medium term, so I would make the pipeline giant the first choice today.
If so, you’re in luck! Because we just tapped one of our top analysts -- and experts in this field -- and asked him to put together a special report highlighting three of his favorite dividend-payers to buy right now.
These three “Cash Kings” have an average yield of 4.0%... are poised to profit from three diverse (and highly crucial) sectors of the economy… and look like they have the ability to grow their dividend well into the future.
For a limited time find out how you can get a copy of this brand new special report by clicking here.
Fool contributor Andrew Walker has no position in any stocks mentioned. The Motley Fool owns shares of Enbridge. Enbridge is a recommendation of Stock Advisor Canada.