4 Dividend Stocks That Yield up to 8.5% to Buy Today

Investors worried about volatility in 2022 should look to top dividend stocks like Fiera Capital Corp. (TSX:FSZ) that offer big yields.

| More on:

Image source: Getty Images.

You’re reading a free article with opinions that may differ from The Motley Fool’s premium investing services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn more

When this year started, I’d looked at some of the best defensive dividend stocks to target in 2022. North American markets have had a choppy start to the year. Soaring inflation, the threat of rising interest rates, ongoing domestic issues, and rising geopolitical tensions between Russia and Ukraine have all contributed to increased volatility. Today, I want to look at four dividend stocks that offer big yields in this climate.

This monster dividend stock is off to a slow start in 2022

Fiera Capital (TSX:FSZ) is the first dividend stock I’d look to target in this environment. The Montreal-based company is a top investment manager. Shares of this dividend stock have dropped 4.2% in 2022 as of early morning trading on February 17. The stock is down 6.9% in the year-over-year period.

Investors can expect to see Fiera’s final batch of 2021 earnings on February 25. In Q3 2021, the company saw assets under management (AUM) climb $1.3 billion year over year to $180 billion. Adjusted net earnings in the first nine months of 2021 rose to $116 million compared to $96.9 million in the year-to-date period in 2020. Meanwhile, adjusted EBITDA rose to $155 million over $148 million in the first nine months of the previous year.

Shares of this dividend stock possess a middling price-to-earnings (P/E) ratio of 32. It offers a monthly dividend of $0.215 per share. That represents a monster 8.5% yield.

Here’s a stock I’d trust in a choppy economic environment

Corby Spirit and Wine (TSX:CSW.A) is a Toronto-based company that is engaged in the manufacture, marketing, and import of spirits and wines. This dividend stock has climbed 3.6% so far this year. Its shares have increased 2.9% in the year-over-year period.

The alcohol sector has proven resilient in the face of previous pullbacks. Indeed, alcohol and drug consumption has broadly increased during the COVID-19 pandemic. In the second quarter of fiscal 2022, Corby delivered adjusted revenue growth of 9% compared to the previous year. Meanwhile, adjusted net earnings rose 18% from the second quarter of fiscal 2021.

This dividend stock last had a favourable P/E ratio of 17. It recently hiked its quarterly dividend to $0.24 per share — up 14% from the previous year. That represents a strong 5.5% yield.

North West is another defensive dividend stock worth holding this year

North West Company (TSX:NWC) is a Winnipeg-based company that is engaged in the retail of food and everyday products to rural communities and urban neighbourhoods in Canada, Alaska, the South Pacific, and the Caribbean. Shares of this dividend stock have increased 2.5% in 2022. The stock is up 7.2% from the previous year.

Investors can expect to see its fourth-quarter FY2022 earnings in early April. In Q3 FY2022, North West saw sales increase marginally to $553 million. Meanwhile, earnings from operations climbed 5.9% to $56.1 million.

Shares of this dividend stock possess an attractive P/E ratio of 11. Better yet, it offers a quarterly dividend of $0.37 per share. That represents a solid 4.1% yield.

One more dependable equity to snag today

Algoma Central (TSX:ALC) is the fourth dividend stock I’d look to snatch up, as volatility picks up in the second month of 2022. This St. Catharines-based company owns and operates a fleet of dry and liquid bulk carriers. Shares of this dividend stock are up 2.3% in the year-to-date period.

This company released its third-quarter 2021 results on November 3. It will unveil its final batch of 2021 earnings later this month. Net earnings surged 80% year over year to $39.9 million in the third quarter. Meanwhile, EBITDA jumped 5% to $69.4 million.

Algoma offers a quarterly distribution of $0.17 per share, representing a 3.9% yield. This dividend stock last had a very favourable P/E ratio of 9.3.

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 of the stocks mentioned. The Motley Fool owns and recommends CORBY SPIRIT AND WINE LTD CLASS A. The Motley Fool recommends THE NORTH WEST COMPANY INC.

More on Investing

potted green plant grows up in arrow shape
Stocks for Beginners

1 Canadian Growth Stock That Could Double Your Money in an Economic Recovery

The market downturn is an opportunity to lock growth during the economic recovery. This stock is a blend of value,…

Read more »

Bank sign on traditional europe building facade
Investing

RRSP Investors: Here’s the Best Canadian Bank Stock for Your Buck

Bank of Montreal (TSX:BMO)(NYSE:BMO) stock is getting far too cheap to ignore after the latest spill in the big Canadian…

Read more »

analyze data
Dividend Stocks

2 Safe Dividend Stocks That Could Help You Fight Inflation

A dependable stream of passive income is one way to help offset rising inflation rates. Here are two top dividend…

Read more »

edit Person using calculator next to charts and graphs
Dividend Stocks

Stay Invested in a Recession: Increase Positions in 2 Value Stocks

The suggestion of market analysts is to increase positions in two value stocks if you want to stay invested amid…

Read more »

Diagonal chain made of zeros and ones. Cryptocurrency and mining.
Cryptocurrency

Is This the End for Crypto?

Bitcoin (CRYPTO:ETH) is in the midst of its worst crash in years. Is this the end?

Read more »

Business success with growing, rising charts and businessman in background
Investing

4 Growth Stocks That Could Make You RICH by 2030

Canadians should take advantage of discounted growth stocks like goeasy Ltd. (TSX:GSY) and others in this summer bear market.

Read more »

Hand arranging wood block stacking as step stair with arrow up.
Dividend Stocks

3 Dividend Stocks to Buy as Inflation Surges in Canada

If you're worried about how surging inflation may impact your portfolio, here are three of the best dividend stocks to…

Read more »

You Should Know This
Dividend Stocks

High Inflation: The Good and the Bad for Canadians

Consider tucking away some of your long-term savings in quality dividend stocks like Brookfield Infrastructure in this correction.

Read more »