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3 Dividend Stocks That Will Feed You Cash for a Lifetime

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Would you welcome financial support for a lifetime if there is an offer? BCE (TSX:BCE)(NYSE:BCE), Enbridge (TSX:ENB)(NYSE:ENB), and Toronto-Dominion (TSX:TD)(NYSE:TD) can provide you with an income stream for eternity.

Following are the reasons why you can expect a life of leisure in your later years from the three stocks.

Telecom front-runner

The key to assuring yourself of a lifetime income is to protect your capital at risk. Telecom giant BCE is your safety net. This dominant industry player can withstand market volatility and endure even the worst recession.

BCE has firmly established its position in Canada’s telecommunications sector. The quality of its wireless and broadband internet services is by far the most advanced and efficient on Earth. For this reason, customers prefer BCE over its strongest rivals.

The main selling point is that BCE is operating in a near monopoly, with only four principal players at best. Since 2015, every year is a banner year. The company is on track to hit close to $24 billion revenue and post more than $3 billion profit.

Both top and bottom lines will see further growth with the coming of the vaunted 5G network. BCE can sustain the 5% dividend and compensate you for life.

Energy leader

One facet of an excellent long-term investment is its potential to ensure that you don’t outlive your retirement savings. Enbridge is a seven-decade-old oil and gas midstream company. The company is popular with just about any Canadian investor seeking extra income.

Enbridge is a top choice because of its pipelines, which generally tend to be recession resistant. Also, the business of being tollbooth for the flow of oil provides instant protection. Likewise, there’s a fundamental need to move oil across the country and to several states in the U.S.

Aside from capital preservation and the earnings from the 6.15% dividend, there is a potential gain from the price. If you invest today, analysts are projecting upside of 23.3% in the next 12 months. But even without the price increase, Enbridge will still deliver your financial sustenance for decades to come.

Top-notch bank

If a telecom or energy stock isn’t enough for you, a bank stock like Toronto-Dominion can meet your income requirements. TD is widely acknowledged as the safest investment not only in Canada but also in the U.S. This bank has a dividend streak of more than 16 decades.

With the warnings of a coming recession, TD will not be moved. The bank will remain profitable, as it did during the height of the 2008 financial crisis. Resiliency is also TD’s trademark. A healthy balance sheet and solid fundamentals will keep the bank afloat.

Historically, a $10,000 investment in TD some 20 years ago returned 786.82% to the lucky investor. If you have five times more the amount and buy TD shares, your monthly income is nearly $165. You’ll be receiving the amount endlessly.

Since it has been TD’s internal policy to implement a once-a-year dividend increase, you can expect the 3.94% yield to rise. Thus, your monthly earnings could increase some more. Your capital is safe with TD, while its dividends are sustainable. Long-term investors find no need to monitor this top-notch bank stock.

Worry-free retirement

Nothing can be more fulfilling than living a worry-free retirement. BCE, Enbridge, and TD are pillars of industries that have been delivering non-stop income to investors for decades.

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Fool contributor Christopher Liew has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Enbridge.

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