This Dividend Stock Is Up to 7% After Last Week’s Big Sell-Off

Last week, we saw many stocks go on horrible declines after the markets saw some significant corrections. Many stocks are trading at discounts and it could be a great opportunity to secure some strong dividends as a result. While there’s no guarantee that the markets will recover, there also wasn’t a significant development to justify the big decline in both the TSX and NYSE.
Boston Pizza Royalties Income Fund (TSX:BPF.UN) declined 6% last week and reached a new 52-week low, at less than $20. You have to back to June 2016 as to the last time that the share price stayed under $20 for a prolonged period of time.
The Boston Pizza brand remains a big name in the restaurant industry and as long as the economy is doing well, the fund should offer ample stability for its investors. It may not offer significant growth, but it does have a great deal of consistency. In each of the past four quarters, revenues have been above $10 million while profits have finished higher than $5 million.
In its most recent quarter, sales were up a modest 2.7% and with Q4 earnings expected this week another good result could help get the stock out of this recent hole.
However, the drop in price has helped push the company’s dividend yield to just north of 7%. The fund pays its investors on a monthly basis and can provide you with a strong source of cash flow along with a terrific payout overall. 
I would expect the stock’s price to bounce back and so this great yield may not last for long.