The S&P/TSX Composite Index rose 10 points on Wednesday, July 26. Some of the best performing sectors on the middling day included Health Care and Industrials. Today, I want to zero-in on two of the top TSX stocks in terms of income generation. Investors might want to target dependable equities in this choppy market environment. These two dividend stocks have proven their mettle over the long term.
Enbridge (TSX:ENB)(NYSE:ENB) is the largest energy infrastructure company in North America. Shares of this energy stock have jumped 1.9% over the past month. The stock is still down 7.5% so far in 2023.
Investors can expect to see this company’s second batch of fiscal 2023 earnings on August 4. In Q1 2023, the company posted largely flat adjusted earnings at $1.7 billion or $0.85 per common share. Enbridge stock is currently trading in mediocre value territory compared to its industry peers. However, the stock offers a quarterly dividend of $0.887 per share. That represents a very tasty 7.2% yield.
Superior Plus (TSX:SPB) is a Toronto-based company that distributes and markets propane distillates in the United States and Canada. Its shares have jumped 3.1% month-over-month as of close on Wednesday, July 26. The stock has plunged 12% in the year-to-date period.
In Q1 2023, this company achieved record adjusted EBITDA of $272 million – up 9% from the previous year. Moreover, net earnings jumped $6.1 million year-over-year to $147 million. Shares of Superior Plus are trading in attractive value territory compared to its industry peers. Better yet, it offers a quarterly dividend of $0.18 per share, which represents a superb 7.2% yield.
