The S&P/TSX Composite Index, the benchmark index for the Canadian equity market, has had a decent run over the past couple of weeks. The index has gained around 4.3% as global markets have shown some signs of recovery following the sell-off in January and early February.
The index’s performance over the last year though has been disappointing. Indeed, given the negative returns over the last year in most global equity markets, it is very important to include dividend stocks with high yields in a balanced portfolio.
Here are 2 stocks to take a look at.
Capital Power Corporation (TSX: CPX)
Based in Edmonton, Canada, Capital Power is engaged in the development, acquisition, operation and optimization of power generation from a range of energy sources.
CPX currently has a dividend yield 7.93%. Year-to-date, CPX has gained 3.6%. The company has reported net income of $35 million in its fourth quarter.
Black Diamond Group Ltd. (TSX: BDI)
Calgary, Canada-based Black Diamond provides remote workforce accommodations, modular space solutions and oilfield products and services in North America and Australia.
BDI is currently offering a yield of 13.67%. The company had recently reported adjusted EBITDA of $15.9 million in its fourth quarter.
