3 Dividend Stocks at 7% to Buy in a Bear Market and Lock Up Now!

These three dividend stocks offer over 7% in dividends if you pick them up now and are due to keep growing for shareholders.

| More on:

At the time of writing this article, there are plenty of dividend stocks out there to consider for their high yields. Right now, we all could use them. What’s more, Motley Fool investors want to pick up dividend stocks they don’t have to worry about in the future.

Today, I’m going to be looking at three solid dividend stocks you can pick up today knowing full well they’ll last. Not only that, but each offers you a dividend above 7% you can lock in today!

A solid ETF

First up, Motley Fool investors should consider picking up an exchange-traded fund (ETF) when looking for dividend stocks. Here, the portfolio does the heavy lifting for you, and BMO Covered Call Utilities ETF (TSX:ZWU) is a superb option.

First off, you’re getting into the industry of utilities. This is a stable industry that has plenty of growth made for it in the future. No matter what, the world needs to keep the lights on. So, utility companies will keep on going, providing you with a defensive means of seeing revenue climb.

As for this ETF in particular, it’s a strong perform with share growth of 66% in the last decade and is even still up 2% year to date. That’s compared to the TSX today, which is down 10.4% as of writing. And when you pick up this ETF among other dividend stocks, you can lock in a yield of 7.52%.

A $10,000 investment in ZWU would bring in $738 in dividends per year.

Setting up for senior living

The Canadian population is ever aging, but one significant part of that population are baby boomers. As baby boomers age, senior living and care homes will certainly see an uptick in both residents, but also in creating more homes for this population.

That means an investment in a company like Sienna Senior Living (TSX:SIA) is a great future investment — especially if you’re reaching senior status! You can now bring in a solid yield of 7.17% as of writing. The company continues to make good progress, even during this bear market, making it one of the dividend stocks you should consider before it booms. Future acquisitions and expanding opportunities are certainly in the cards for this long-term-care provider.

A $10,000 investment in Sienna stock would bring in $723 per year.

Get in on interest rates

If interest rates are going to be rising, you might as well take advantage of a company that will benefit from it. One such company would be Atrium Mortgage Investment (TSX:AI). The company is a non-bank lender, providing mortgages to real estate communities across Ontario, Alberta, and British Columbia. This includes everything from residences to land financing.

Analysts identified the company as one of the dividend stocks with a defensive approach to investing. The company should continue seeing growth in the medium term thanks to a strong portfolio and a well-supported dividend. Further, it’s one of the dividend stocks trading at a valuable 11.44 times earnings, and 1.02 times book value. And right now, Atrium stock offers a 7.78% dividend yield!

A $10,000 investment in Atrium would bring in $787 in annual dividend income for Motley Fool investors.

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 Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.

More on Dividend Stocks

bulb idea thinking
Dividend Stocks

5 No-Brainer Dividend Stocks to Buy Right Now for Less Than $1,000

These TSX stocks consistently pay and increase their dividends regardless of market conditions, making them no-brainer investments.

Read more »

Canadian Dollars bills
Dividend Stocks

Invest $15,000 in This Dividend Stock for $797 in Passive Income

Bank of Nova Scotia stock is a good idea for placing long-term capital and earning passive income, especially on pullbacks.

Read more »

a man relaxes with his feet on a pile of books
Dividend Stocks

Is Fairfax Financial Stock a Buy for its 1.1% Dividend Yield?

Is Fairfax worth adding to your portfolio?

Read more »

Blocks conceptualizing Canada's Tax Free Savings Account
Dividend Stocks

How to Use Your TFSA to Earn $5,000 Per Year in Tax-Free Income

Adding these two top dividend stocks could help you create a reliable income-generating portfolio within your TFSA.

Read more »

woman looks out at horizon
Dividend Stocks

Is Manulife Stock a Buy, Sell, or Hold for 2025?

Manulife stock (TSX:MFC) has had one heck of a year. But is that set to continue in 2025 and beyond?

Read more »

Canadian dollars in a magnifying glass
Dividend Stocks

Retirees: Expect a 2.7% CPP Inflation Boost Next Year

A 2.7% inflation bump means more nominal income. Investing in ETFs like the BMO Canadian Dividend ETF (TSX:ZDV) provides a…

Read more »

up arrow on wooden blocks
Dividend Stocks

3 Blue-Chip Dividend Stocks Every Canadian Should Own

These are large-cap TSX stocks with fundamentally strong businesses and growing earnings bases that support their distributions.

Read more »

Dividend Stocks

Is Granite REIT stock a buy for its 4.3% dividend yield?

Granite REIT stock appears to be a good buy for monthly income and long-term price appreciation at current levels.

Read more »