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The Canadian equity markets have opened weak today, amid reports of Canada’s trade balance shifting to a deficit in March after reporting a trade surplus in the previous two months. Its trade deficit came in at $1.1 billion against analysts’ expectation of $700 million of trade surplus. Amid the rising volatility and low-interest environment, investors could buy high-quality dividend stocks to earn stable passive income and stabilize their portfolios. Meanwhile, here are four Canadian dividend stocks that are financially stable and pays dividends at healthier yields.
Enbridge
Enbridge (TSX:ENB)(NYSE:ENB) operates a highly regulated business, with around 95% of its adjusted EBITDA generated from regulated assets or long-term contracts, providing stability to its earnings and cash flows. These steady cash flows have allowed the company to raise its dividends for 26 straight years at a CAGR of 10%. For 2021, the company has declared dividends of $3.34 per share, representing a forward dividend yield of 7%.