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.

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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.

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