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Canadian Utilities (CU)

One of the easiest and fastest ways of catching up on savings is by investing in solid dividend stocks. But what makes a dividend stock solid? Take a look at Canadian Utilities stock to find out.

Canadian Utilities stock is the only stock on the TSX today with Dividend King status. This means it’s increased its dividend every year for the last 50 consecutive years. This is possible as it’s in the utility sector. These come with long-term contracts and stable cash flows.

Canadian Utilities stock has been on a stable growth path for decades now. In the last 20 years, shares have increased 231%.

Meanwhile, its dividend yield currently sits at 4.64% and has grown 265% in the past 20 years. So you could look to this utility stock for stable growth, as well as stable dividends.

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Nutrien (NTR)

While Nutrien stock doesn’t have as high of a dividend yield, or as much history as Canadian Utilities stock, it’s definitely stable. The crop-nutrient company provides potash and other nutrients to farmers. These fertilizers are then used to help keep up with crop demand. And that has been an essential service as our world’s population now surpasses eight billion people.

What’s more, there continues to be more demand for Nutrien stock than ever before. Many looked to the company once sanctions were placed on Russia after the invasion of Ukraine. This sent share prices soaring, but have since come down to around $100 per share.

Shares are down 31% in the last year, and due for recovery. Shares of the stock may be down now, but have climbed 68% since 2018. Add on to this a dividend yield at 2.86%.

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BCE Inc. (BCE)

Getting back to stocks that simply aren’t going anywhere, nor have they over the last few decades, we have to look at BCE stock. The telecommunications company may have started out with telephones as the Bell Company in 1880, but has expanded far beyond this in the years that followed.

BCE stock is now the telecom business with a huge share in the Canadian market (even after the Rogers-Shaw deal). And that doesn’t look to be slowing down. New clients continue to seek out BCE stock for some of the fast internet speeds among telecom giants. It also hosts a wide range of content through Crave and other platforms.

But here’s the thing, there is so much more room to grow. Infrastructure for telecommunications continues to be built, and will need to be over the next decade or so. This will allow every corner of Canada to receive faster internet speeds. It also gives BCE stock a reason to exist and thrive for at least another 10 to 20 years.

Yet this downturn has brought BCE stock down 12% in the last year. But still consider that the stock is up 109% in the last 20 years. Along with this is the dividend yield of course, currently at 6.04%.

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The content provided on Moneywise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.