The S&P/TSX Composite Index has suffered triple digit losses in over half of the total trading sessions over the past two weeks. In this environment, investors may want to snatch up dependable dividend stocks. Today, I want to focus on two of my favourites. Let’s take a snapshot of both.
Enbridge (TSX:ENB)(NYSE:ENB) is a Calgary-based energy infrastructure giant. Shares of this top energy stock have increased 4.3% in 2022 as of close on September 29. The stock has increased 2.4% year over year.
Investors can expect to see Enbridge’s next batch of results later this fall. In Q2 2022, the company delivered adjusted earnings that were flat from the previous year at $1.4 billion or $0.67 per common share. This dividend stock possesses a very solid price-to-earnings ratio of 21. Meanwhile, investors can count on its quarterly dividend of $0.86 per share. That represents a tasty 6.6% yield.
TransAlta Renewables (TSX:RNW) is the second of the two super dividend stocks I’d target today. This company develops, owns, and operates renewable power generation facilities. Its shares have dropped 21% so far in 2022.
In Q2 2022, this company delivered adjusted EBITDA growth of 30% to $126 million. Meanwhile, free cash flow jumped 23% to $87 million. This dividend stock possesses a solid P/E ratio of 33 at the time of this writing. TransAlta offers a monthly distribution of $0.078 per share, representing a tasty 6.4% yield.
