Sumary of 3 Canadian Dividend Stocks That Make It Rain Cash:
- Not all TSX stocks are necessarily ultra-high yielders, but there are a good few that are.
- Enbridge Enbridge (TSX:ENB)(NYSE:ENB) is a Canadian energy stock that yields 6.9% at today’s prices.
- Going by distributable cash flow (DCF)–the metric ENB uses to evaluate its own dividend-paying ability–the payout ratio is a mere 72%.
- And using DCF instead of earnings is perfectly valid because cash flow better represents dividend-paying ability than earnings, which are influenced by non-cash factors.
- Suncor Energy Suncor Energy (TSX:SU)(NYSE:SU) is a Canadian energy stock that yields 3.25%.
- In response to the COVID-19 pandemic, Suncor Energy slashed its dividend in half, from $0.42 to $0.21. That cut the yield right down to size.