3 Reliable Dividend Stocks With Yields Above 9% That You Can Buy for Less Than $10 Right Now

These three dividend stocks offer immense passive income for long-term investors, with high yields for right now!

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A reliable dividend stock often shares a few key traits that make it stand out in the investment landscape! First, a solid history of consistent dividend payments signals a company’s commitment to returning value to shareholders. Plus, a healthy payout ratio indicates that the company can comfortably afford its dividends without stretching its finances too thin. Add it together, and it makes these stocks dependable choices for income-seeking investors! So, here are two to consider.

Cardinal Energy

Created with Highcharts 11.4.3Cardinal Energy PriceZoom1M3M6MYTD1Y5Y10YALLwww.fool.ca

Cardinal Energy (TSX:CJ) is making a strong case as a reliable dividend stock on the TSX. And there are several reasons why investors might want to consider it. With a market cap of approximately $1.09 billion and an attractive forward annual dividend yield of 10.54%, this company stands out for its commitment to returning value to shareholders. The trailing price-to-earnings (P/E) ratio of 9.36 and forward P/E of 8.13 indicate that Cardinal is trading at a relatively low valuation compared to its earnings potential. The company has also demonstrated impressive financial performance, with a profit margin of 22.78% and an operating margin of 39.80%. This showcased its ability to generate profits effectively.

Furthermore, Cardinal Energy has been delivering strong revenue growth, with a year-over-year increase of 24.30% and a remarkable quarterly earnings growth of 46.60%. This indicates that the company is not just maintaining its dividend. It’s also well-positioned for future growth. Its manageable debt levels, with a total debt-to-equity ratio of just 9.04%, contribute to a solid balance sheet that supports dividend sustainability. Despite a current ratio of 0.73, the company’s operating cash flow of $238.78 million and levered free cash flow of $63.57 million provide a cushion for its dividend payments. So, certainly consider it on the TSX today.

Fiera Capital

Created with Highcharts 11.4.3Fiera Capital PriceZoom1M3M6MYTD1Y5Y10YALLwww.fool.ca

Fiera Capital (TSX:FSZ) is emerging as a strong dividend stock on the TSX, making it an appealing choice for income-seeking investors. With a market cap of approximately $825.16 million and an impressive forward annual dividend yield of 11.17%, FSZ stands out for its ability to provide a substantial income stream. The trailing P/E ratio of 14.26 and a forward P/E of 7.70 suggest that the stock is undervalued compared to its earnings potential. This could make it an attractive entry point for investors.

The company has demonstrated solid financial performance, boasting a profit margin of 8.97% and an operating margin of 16.91%, showcasing its ability to generate profits effectively. Despite a slight quarterly revenue growth of 3.10%, the overall revenue of $702.61 million indicates a strong operational foundation. Moreover, FSZ’s financial stability further enhances its appeal as a dividend stock.

With total cash on hand of $41.49 million and levered free cash flow of $127.78 million, the company is well-positioned to sustain its dividend payments, even with a payout ratio of 159.26%. Although the total debt stands at $775.63 million, the current ratio of 1.39 indicates that FSZ can cover its short-term obligations, providing a cushion for its dividend strategy. Additionally, a robust return on equity of 22.95% reflects effective management and efficient use of equity. Overall, FSZ is a noteworthy addition for investors looking to enhance their portfolios with reliable passive income!

Superior Plus

Created with Highcharts 11.4.3Superior Plus PriceZoom1M3M6MYTD1Y5Y10YALLwww.fool.ca

Superior Plus (TSX:SPB) is also set up as a strong dividend stock on the TSX today, especially for income-focused investors looking for solid returns. With a market cap of approximately $1.89 billion and a forward annual dividend yield of 9.45%, this stock offers a compelling income opportunity. The enterprise value-to-revenue ratio of 1.25 indicates that investors might be getting good value based on the company’s revenue generation capabilities. Moreover, a solid operating cash flow of $308.56 million and levered free cash flow of $227.4 million suggest that Superior Plus has the financial capacity to support its dividend payments.

However, it’s essential to keep an eye on some challenges. The company has faced a slight dip in revenue, with a year-over-year decrease of 2.30%. Meanwhile, the current ratio of 0.75 indicates that the company may face liquidity challenges, but the overall structure and cash flow management provide some reassurance. Despite the 52-week decline of 25.73%, the potential for recovery and the substantial dividend yield make Superior Plus an intriguing option for investors seeking reliable passive income with the possibility of long-term growth.

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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 recommends Fiera Capital and Superior Plus. The Motley Fool has a disclosure policy.

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