If there was a single word to define how the market has performed over the past year, it would be volatile. And while market volatility can cause some investors to worry, it can also be an immense opportunity for long-term investors. Specifically, an investor’s paradise can be established in your portfolio with some of the best dividend stocks that are now on sale.
Here are four examples of stocks to consider buying for your portfolio today.
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#1- Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce (TSX: CM) isn’t the largest of Canada’s big banks. It does, however, provide a unique opportunity to investors.
Canada’s big banks are stellar long-term investment options to establish an investor’s paradise. They provide a generous (and growing) dividend and have both a stable domestic arm as well as growth opportunities.
In the case of CIBC, the bank’s exposure to the Canadian mortgage market coupled with rising interest rates has left the bank trading at a discount. As of the time of writing, the stock is down just shy of 10% over the trailing 12 months.
This means that the bank is a great option for long-term investors looking to pick up a great option that pays a juicy dividend. That dividend, as of the time of writing, works out to a tasty 5.97%.
#2 – Enbridge
Most Canadians recognize Enbridge (TSX: ENB) as an energy infrastructure behemoth. Fewer realize just how big and far-reaching Enbridge’s grasp on the sector truly is, and why the stock is a must-have for building out an investor’s paradise.
Enbridge is best known for its pipeline network, which also happens to be the largest and most complex on the planet. And best of all, the pipeline doesn’t charge based on the price of the volatile commodities it hauls.
In terms of volume, Enbridge transports one-third of North American crude and nearly one-fifth of the natural gas needs of the U.S. market. This makes the stock one of the most defensive investments on the market and a great long-term option.
And that’s not all. Enbridge also operates one of the largest utilities in North America, owns a growing renewable energy business, and offers a very appetizing quarterly dividend.
As of the time of writing, that yield works out to an incredible 7.18% yield, making it one of the better-paying yields on the market.
#3 – Telus
I would be remiss if I didn’t mention at least one of Canada’s telecoms as a candidate for an investor’s paradise. And that telecom to consider right now is Telus (TSX: T).
Like its peers, Telus offers subscription-based services that provide the bulk of its revenue stream. Those services also offer significant defensive appeal, particularly from the wireless and internet segment, which have grown in importance since the pandemic started.
Where Telus differs from its peers is with respect to (or rather a lack of) a media segment. Rather than operating a media business, Telus opted to invest in tech services that serve specific segments of the market.
For example, Telus Health provides services for hospitals, staff, and insurance companies, providing digital solutions. Telus Agriculture, on the other hand, caters to farmers and adjacent verticals, offering a variety of solutions.
In terms of a dividend, Telus has provided annual or better bumps to its payout for over two decades. Today, that yield works out to a tasty 5.72%.
#4 – RioCan
One of the biggest opportunities for investors has always been real estate. Unfortunately, rising interest rates, higher down payments, and overall rising volatility have made that dream harder for many.
That’s where the appeal of a REIT like RioCan Real Estate (TSX: REI.UN) comes into consideration. RioCan is one of the largest REITs in Canada, with a growing portfolio of over 200 sites. Those sites have shifted from primarily commercial retail to mixed-use residential properties in recent years. The initiative, known as RioCan Living, holds massive opportunities for investors.
In doing so, RioCan is catering to both the retail shift to online commerce as well as the growing need for housing within major metro areas. For investors, this represents a lower-risk option than a traditional rental property.
It also generates a juicy distribution paid out at a monthly cadence, which currently works out to a 5.52% yield to help you establish an investor’s paradise.
