4 Dividend Stocks to Consider as Investors Ponder Year-End Contributions

As the year draws to a close and investors look to contribute to registered accounts, stocks such as Fortis Inc. (TSX:FTS)(NYSE:FTS) yields good income.

calm, no emotion

As we head into the final days of November, it should have dawned on investors by now that another year is coming to an end. For some, the coming months present an opportunity to make year-end contributions to a TFSA or RRSP, though the deadline is not until March 2018 for the latter.

Let’s take a look at four stocks that can provide solid income for your portfolio.

Fortis Inc. (TSX:FTS)(NYSE:FTS) is a St. John’s-based utility company with operations in Canada, the United States, and the Caribbean. Shares have increased 14.7% in 2017 as of close on November 21. The company released its third-quarter results on November 3. It posted net earnings of $278 million, or $0.66 per share. In an early October article, I’d discussed why utilities could be a good bet for investors going forward.

With the Bank of Canada striking a dovish tone of late, utility stocks will continue to attract investors chasing a stable vehicle with high yields. Fortis stock offers a dividend of $0.43 per share, representing a 3.5% dividend yield.

Enbridge Inc. (TSX:ENB)(NYSE:ENB) is a Calgary-based energy transportation company. Enbridge stock has been hit hard in 2017 by volatile oil prices earlier in the year and controversies regarding its recent projects in recent months. Shares have tumbled 16.7% in 2017. In its third-quarter results, Enbridge posted net earnings of $762 million compared to a loss in Q3 2016.

Oil prices have rallied in the latter half of 2017 due to lower inventories and rising tensions in the Middle East. Enbridge is currently trading at $47.07 as of close on November 21. The stock offers a dividend of $0.61 per share, representing a 5.1% dividend yield. It remains attractive for its income, but it could be a solid growth pick in 2018 if it can build on its third-quarter results.

Brookfield Renewable Partners LP (TSX:BEP.UN)(NYSE:BEP) is a Toronto-based limited partnership that owns and operates renewable power assets. The stock has climbed 7.8% in 2017 and 12% year over year. Brookfield released its third-quarter results on November 1. It posted adjusted EBITDA of $378 million compared to $332 million in Q3 2016, but it also posted a larger net loss of $32 million compared to $19 million the previous year.

In addition to its impressive capital growth, the stock offers a dividend of $0.60 per share, representing a 5.6% dividend yield.

National Bank of Canada (TSX:NA) is the sixth-largest major bank in Canada and is based in Montreal. The bulk of its operations are based in its home province of Quebec. Shares have climbed 16.8% in 2017 and 29% year over year. In a late October article, I’d discussed why investors should take a look at National Bank as the province of Quebec continues to post improved economic numbers.

National Bank is set to release its fourth-quarter results on December 1 after an impressive third quarter. The stock boasts a dividend of $0.58 per share with a 3.6% dividend yield.

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.

Fool contributor Ambrose O'Callaghan has no position in any stocks mentioned. The Motley Fool owns shares of Enbridge. Enbridge is a recommendation of Stock Advisor Canada. Brookefield Renewable is a recommendation of Dividend Investor Canada.

More on Dividend Stocks

Two seniors float in a pool.
Dividend Stocks

TFSA: How to Earn $1,890 in Annual Tax-Free Income

Plunk these investments into your TFSA to earn passive income and avoid the taxman.

Read more »

Engineers walk through a facility.
Dividend Stocks

1 TSX Stock I Wouldn’t Touch With a 10-Foot Pole

AtkinsRéalis (TSX:ATRL) is one TSX stock I'd never invest in.

Read more »

edit Woman in skates works on laptop
Dividend Stocks

3 No-Brainer Stocks to Buy Under $30

These three stocks all offer a huge deal for investors looking for dividends, as well as growth that will last.

Read more »

You Should Know This
Dividend Stocks

How to Convert a $300 Monthly Investment Into $338 in Monthly Income

If you want a certain amount in monthly passive income, invest a similar amount today and leave the rest to…

Read more »

Increasing yield
Dividend Stocks

3 Income Stocks With Big Yields to Consider in April 2024

If you haven’t yet made your March investments, here are three income stocks to buy the dip and lock in…

Read more »

Senior Man Sitting On Sofa At Home With Pet Labrador Dog
Dividend Stocks

RRSP Investors: Don’t Miss Out on This Contribution Hack!

This hack has so many benefits for you -- not just when you put it in your RRSP but for…

Read more »

A red umbrella stands higher than a crowd of black umbrellas.
Dividend Stocks

Passive Income: 2 Safe Dividend Stocks to Own for the Next 10 Years

Dividend stocks such as Manulife and Fortis can help you generate a stable and recurring passive-income stream.

Read more »

Young woman sat at laptop by a window
Dividend Stocks

3 Dividend Stocks Everyone Should Own for the Long Haul

For investors looking for top-tier dividend stocks to buy and hold for the long term, here are three of my…

Read more »