Check Out These 2 Dividend Stocks for Your Portfolio

On July 28, Statistics Canada reported that the economy had grown 0.6% in the month of May — beating analyst expectations by 0.4%. The economy has now grown 4.6% in 12 months, representing the biggest increase in that time frame since 2000. The news appeared to spook investors as the S&P/TSX Index declined the morning it hit. Continued economic strength would appear to guarantee another rate hike by the Bank of Canada in October.

In the midst of a midsummer swoon, investors should be looking for income to beef up their portfolios while uncertainty reigns in the markets. Fortunately, there are rock-solid options for those seeking dividend stocks.

First National Financial Corp.

The share price of First National Financial Corp. (TSX:FN) has fallen 7% in 2017 and 17% year over year. First National released its second-quarter 2017 financial results on July 25. Mortgages under administration were up 3% year over year to $99.5 billion. Revenue reported growth of 15% to $292 million from $254 million in Q2 2016. The company announced net income of $69 million, up from $41 million the same period last year.

Government regulations put a dent in mortgage originations; numbers were down 14% to $4.7 billion from $5.5 billion in 2016. First National boasts a dividend of $0.15 per share, representing a dividend yield of 7.43%. The stock sunk immediately following the earnings report and closed at $25 on July 31 — up 1.38%.

BCE Inc.

BCE Inc. (TSX:BCE)(NYSE:BCE) is set to announce its earnings today. In August 2016, the company’s subsidiary, Bell Canada, launched the Home Hub 3000 Wi-Fi services with Wireless 4K Whole Home PVR from Fibe TV. The company has managed to stymie subscriber loss with the deployment of 4G LTE mobile networks, IP phone services and Gigabit Fibe. This has been a crucial development in the middle of a difficult period for the industry as subscribers are migrating to other providers.

BCE stock has experienced growth of 1% in 2017 thus far, but it has dropped 6% year over year. The share price has suffered since late April, falling 5%. Still, analysts are expecting a positive earnings report to come mid-week. The stock boasts a dividend of $0.72 per share with a dividend yield of 4.89%.

Both of these companies offer investors the opportunity to buy into stocks with high dividend yields in the midst of a general slump for the TSX. First National Financial is an interesting option with its 7% dividend yield and a share price that has been battered year over year. It can provide income at good value and has buy-low potential.

The share price of BCE may also come at a bargain in the middle of a weak summer. Its earnings have managed to consistently beat analyst expectations and its 5% dividend yield will reward investors regardless. Both companies offer upside heading into the second half of 2017 and should be added by investors looking for income during a turbulent market period.

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Fool contributor Ambrose O'Callaghan has no position in any stocks mentioned.

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