The S 500 index is hitting new all-time highs in 2024, and that has resulted in its dividend yield average falling to a miserly 1.2%. Income investors can do much better than that, with some particularly attractive options currently available among somewhat unloved stocks like Enbridge (NYSE: ENB), Toronto-Dominion Bank (NYSE: TD), and Hormel Foods (NYSE: HRL).
Here’s a quick primer on these three dividend stocks to explain why you might want to put $1,000 or more into this trio today.
Enbridge is one of the largest midstream companies in North America, with a network of energy infrastructure that helps to move oil and natural gas around the world. That’s the core of the business, representing around 75% of its earnings before interest, taxes, depreciation, and amortization (EBITDA). The company charges fees for the use of its assets, so this business is a highly reliable cash-flow generator. This strong base is part of the reason why Enbridge has been able to increase its dividend (paid in Canadian dollars), every year for 29 consecutive years.
Source Fool.com