The S&P/TSX Composite Index rose 31 points on Friday, February 24. Canadian and global markets have had a solid start to 2023 after a shaky 2022. However, I’m still looking to target dependable dividend stocks that offer a high yield in late February. Today, I want to zero-in on two of my favourites. Let’s jump in.
BCE (TSX:BCE)(NYSE:BCE) is a Montreal-based telecommunications and media company that provides wireless, wireline, Internet, and Television (TV) services to customers across Canada. Its shares have dropped 9.1% year-over-year as of close on February 24. The stock is up marginally so far in 2023.
Investors got to see its final batch of fiscal 2022 results on February 2. Operating revenues increased 3.1% from the previous year to $24.1 billion. Meanwhile, adjusted net earnings jumped 5.6% to $3.05 billion. Adjusted EBITDA jumped 3.1% to $10.1 billion.
This stock offers a quarterly dividend of $0.968 per share. That represents a tasty 6.4% yield.
Enbridge (TSX:ENB)(NYSE:ENB) is another high-yield dividend stock that should require no introduction for Canadian investors. This Calgary-based energy infrastructure company is one of the most dependable on the TSX. Its shares have dropped 3.5% in 2023.
This energy infrastructure giant has delivered over 25 straight years of annual dividend growth. Enbridge currently offers a quarterly dividend of $0.887 per share, which represents a very strong 6.9% yield.
