Finding the right mix of investments can boost your portfolio, and by extension, your bank account to new levels.
Here’s a look at some of the supercharged dividend stocks that will jumpstart your bank account and portfolio.
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Look no further than this solid performer
One of the first stocks your bank account will thank you for is Enbridge (TSX: ENB). The energy infrastructure behemoth is best known for its pipeline business.
Enbridge’s pipeline operation offers both crude and natural gas, transporting massive amounts of both each day. That massive pipeline network, which is one of the largest and most complex on the planet, generates a reliable and recurring source of revenue.
While the pipeline business generates the bulk of Enbridge’s revenue, it isn’t the only segment that the company boasts. Enbridge also operates a growing renewable energy business as well as a natural gas utility.
Like the pipeline business, both segments generate ample revenue for Enbridge, allowing it to invest in growth initiatives while paying out a very handsome dividend.
And it’s that dividend that income-seeking investors will love when viewing their bank account. As of the time of writing, Enbridge offers a tasty 5.8% yield.
This means that investors who drop $35,000 into Enbridge will see their bank account grow by just over $2,000 in the first year.
Prospective investors should note that Enbridge has provided annual bumps to that dividend for three decades without fail. The company also plans to continue that cadence.
Banking on income
It would be nearly impossible to mention growing your bank account with stellar investments without noting at least one of the big banks. Canada’s big bank stocks offer juicy yields, backed by stable revenue streams and long-term growth.
The big bank for investors to consider now is Bank of Montreal (TSX: BMO). BMO is the oldest of the big banks and has been paying out dividends for nearly two centuries.
Today, the yield on that quarterly dividend works out to a respectable 4.2%. And like Enbridge, BMO has an established tradition of providing annual upticks to that dividend going back years.
Using that same $35,000 investment example from above, prospective investors can look forward to growing their bank account by just over $1,450.
Apart from its appeal as an income-producer, BMO is also appealing as a growth stock. The bank has focused in recent years on expanding its network in the U.S. In fact, following its acquisition of Bank of the West, BMO is now one of the larger banks in the U.S. market, with a presence in 32 state markets.
That growth provides some diversification over its mature portfolio in Canada, while continuing to generate ample revenue.
In short, BMO is a must-have for investors looking to grow their bank account through a juicy dividend.
Stability and income
One final option for investors looking to boost their bank account through a juicy dividend is Canadian Utilities (TSX: CU). Utility stocks are superb picks for income-seekers owing to their juicy yields and reliable revenue streams.
Part of the reason for that appeal is the simple, yet lucrative model that utilities follow. In short, utilities provide a service that is bound by long-term regulated contracts.
As long as the utility continues to provide service, it generates a predictable and recurring revenue stream. And that revenue stream leaves room for growth investments and a juicy dividend.
In the case of Canadian Utilities, that income works out to a tasty yield of 4.8%. A $35,000 investment in Canadian Utilities translates into an income of just over $1,670.
Perhaps best of all, prospective investors should note that Canadian Utilities has the longest dividend streak of any company in Canada. Specifically, the company has provided investors with an uptick to that dividend for 53 consecutive years without fail.
That makes this a must-have for income-seeking investors.
Your future bank account is calling
No stock is without risk, but the three stocks mentioned above can provide a reliable income with defensive appeal. Even better, they each boast a tasty dividend income that is both secure and growing.
In my opinion, all three stocks should be core holdings in any well-diversified portfolio.
Buy them, hold them, and watch your (future) bank account grow.
