The TSX today has done it. It’s actually returned to former all-time highs! This is making Canadians perhaps far more confident about the future of the markets — and maybe nervous that they have missed out on some strong opportunities.
But don’t worry! There are still dividend stocks out there you can snatch up for a steal, offering enormous dividend yields while also providing a strong future for returns. So, here are the ones I would look to first and foremost.
Brookfield Global Infrastructure
First up, investors will want to consider Brookfield Global Infrastructure Securities Income Fund (NASDAQMUTFUND: BGIUN). This could likely set up investors for solid years of passive income. This comes from the investment in public equity markets around the world.
In particular, the fund seeks to invest in companies that are operating in infrastructure around the world. These much be publicly traded global infrastructure companies, and investors can seriously benefit from. While the last few years have seen shares shrink, the tide is turning as the world looks to invest in infrastructure after interest rates come down.
For now, shares are up 16% since market bottom in October. It now offers a 16.17% dividend yield, trading at just nine times earnings. And while trading at 0.98 times book value, the company looks like a highly valuable buy at these levels.
Fiera Capital
Another stock to consider these days among divided stocks is Fiera Capital (TSX: FSZ). Fiera stock is an independent asset management firm, providing investment solutions around the world. It now offers a wide range of investment products and service, including equities, fixed income, multi-asset, alternative investments, and private wealth management.
While the company has seen some price movement downwards in the last few years, this usually happens during high interest rate environments as well as high inflation. Simply put, people aren’t looking to invest as much. However, this leaves an opportunity to get in on a deal.
A more positive market has led to more investment in the stock. Fiera stock is now up a whopping 85% since hitting market bottom. It offers a 10.21% dividend yield as well while trading at just 16.06 times earnings. And while also trading at 1.57 times sales and 2.62 times book value, this is one value stock already on the up.
Allied Properties
If you’re looking for more regular dividend income from your dividend stocks, I would look to Allied Properties REIT (TSX: AP.UN). Now, this one is a bit tricky. Investors are likely aware that office real estate investment trusts (REITs) haven’t done all that great in the last few years. The thing is, Allied is different.
Instead of buying up or building office buildings, Allied stock seeks out older buildings that it then turns into office buildings for a more vibrant feel in popular neighbourhoods. All within major markets such as Toronto, Montreal, and Vancouver. This means less investment and higher appeal to newer companies.
So, with a 10.23% dividend yield to consider, this dividend stock is another that investors will want to pick up these days for income — especially as shares have climbed back almost 18% since market bottom!
