3 Dividend Stocks Every Investor Should Own

These dividend stocks may be down now, but not a year from today. And each are ones every investor should own while they have the chance.

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It can be really hard to decide what stocks to buy and what to leave aside when the market is doing well. If everything is up, then everything might be more than you’re willing to pay. However, if you’re looking for dividend stocks that every investor should really try and buy, right now is the perfect time.

The TSX today is still down, leading to dividend stocks far below their fair value. In fact, the top three dividend stocks I would buy all remain in value territory. So, let’s look at the top three buy-and-hold dividend stocks I would recommend right now.


Nutrien (TSX:NTR) went through a period of volatility during the outbreak of war, when Russia invaded Ukraine. The soaring prices of potash and other crop nutrients led to a soaring share price as well. But it was a price that eventually dropped when the market started to turn.

Now, Nutrien stock is back in value territory. It’s one of the dividend stocks trading at just 4.88 times earnings and offers a dividend yield at 2.98% as of writing as well. While it may have had a more volatile history, it’s certainly a strong buy today for those looking to hold long term.

Nutrien stock continues to merge the fractured industry of the crop nutrient market. It’s also expanded its successful e-commerce business, providing farmers with what they needed, even during pandemic conditions. The world will always need food and the nutrients to support the growth of food. So, you can be sure this is a dividend stock that will a strong buy for decades.

Royal Bank of Canada

Royal Bank of Canada (TSX:RY) is another strong choice, given it’s the largest of the Canadian banks by assets and market capitalization. Yet Royal Bank stock is another great buy right now with the market the way it is.

Royal Bank stock typically falls during downturns such as this. When we reach a recession, these banks drop with lower loan originations leading to less income. But here’s the thing, Royal Bank stock and the other banks are prepared. They have provisions for loan losses. So, why Royal Bank? It continues to have lucrative revenue streams from wealth and commercial management, capital markets, and expansion.

Yet again, it trades at just 12.41 times earnings as of writing and is one of the dividend stocks offering a yield at 4.05%. So, it’s yet another top stock I’d consider buying and holding to help you get through to the other side of a recession and beyond.


Finally, telecommunications companies do quite well in Canada as there is little competition. While this isn’t great for consumers, it certainly is for investors. And if you’re considering this area, then definitely consider BCE (TSX:BCE) first.

BCE stock has been on the market for 40 decades and as the Bell Company since the late 1800s. Yet it still has so much room to grow. It’s currently the internet provider with the fastest speeds and looking towards the future with its 5G+ rollout. And with more infrastructure being built all the time for wireless and wireline connections, BCE stock looks like it will only continue to grow from here.

BCE stock trades at a valuable 3.04 times book value as of writing, with a 6.14% dividend yield as well. Yet again, shares are down from the current market. So, now is a great time to pick up this among your other dividend stocks for long-term growth.

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 positions in Royal Bank Of Canada. The Motley Fool recommends Nutrien. The Motley Fool has a disclosure policy.

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