Establishing a safe dividend income stream is one of the best long-term options for investors to consider right now. Fortunately, there are plenty of great stocks to help meet that goal, including some ultra-high-yield stocks.
Here’s a trio of safe dividend stocks that also have juicy yields right now.
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This option provides lots of income potential
Most investors are aware of Enbridge (TSX: ENB). The energy infrastructure behemoth has its tentacles in multiple parts of the market. This includes a renewable energy business, a natural gas utility, and its well-known pipeline operation.
Each of those segments offers defensive appeal and plenty of growth. That stability means Enbridge has ample room to pay out a juicy dividend while continuing to invest in growth.
Not only does this make Enbridge a superb candidate for safe dividend income, but it also makes it one of the better-paying yields on the market. As of the time of writing, Enbridge’s yield works out to an impressive 5.98%.
Adding to that appeal is the fact that Enbridge has provided investors with annual upticks to that dividend for an incredible three decades without fail. The company also plans to continue that cadence.
Canada’s big banks can provide big income
When mentioning stocks that can provide a safe dividend income, it would be hard not to consider including one of Canada’s big banks. And that one bank to consider right now to provide a safe dividend income is Bank of Nova Scotia (TSX: BNS).
Scotiabank isn’t the largest of the big banks, but it has an impressive international footprint, which is the bank’s key focus for growth. Scotiabank is refocusing those expansion efforts on the U.S. market for growth following nearly a decade focused on Latin America.
This means that Scotiabank’s growing international presence, coupled with its massive stable domestic arm, provides ample room for further growth investments while paying out a very juicy dividend.
That dividend currently works out to 5.31%, making it a solid option for any long-term investor. And like Enbridge, Scotiabank has an established cadence of providing annual upticks to that dividend.
There’s a massive opportunity from this gem right now
One final stock to consider for safe dividend income is Telus (TSX: T).
It’s no secret that telecoms generate a stable revenue stream. That’s thanks to the incredibly defensive business model that they adhere to. In the case of Telus, the telecom boasts a growing base of customers to its subscriber-based services.
Those services include wireless, wireline, TV and internet, all of which have become increasingly necessary in the years since the pandemic started.
Prospective investors should note that there’s an opportunity for lucrative long-term growth that comes from investing in Telus right now.
That opportunity can be traced back to the stock’s performance over the past year, which was weighed down by high interest rates and inflation-wary consumers. In fact, over the trailing 12-month period, Telus has seen its stock price dip by over 10%.
But now that rates are stable and starting to drop, investors can buy into the telecom at a discounted rate.
Even better, prospective investors should note that while the stock price has dipped, Telus’s dividend has swelled. As of the time of writing, that yield works out to an insane 7.72%.
This makes Telus one of the best-paying options on the market and a prime candidate to generate safe dividend income.
Invest now for safe dividend income
Not only do the three stocks above provide juicy yields, but they also boast some defensive appeal and long-term growth potential. Throw in the safe dividend income that they offer, and you have investment options that are too hard to ignore.
In my opinion, one or all of the above are great investments to buy now and hold for the long-term in any well-diversified portfolio.
