Investing in quality, beaten-down TSX dividend stocks is a proven strategy to generate outsized returns over time. As a company’s share price and dividend yield are inversely related, you can benefit from a higher dividend payout during periods of economic turmoil.
While the broader markets are trading near all-time highs, the rally is driven primarily by high-flying tech stocks. Alternatively, lower oil prices have meant that energy stocks are trailing the TSX index over the last 12 months.
The ongoing pullback in the oil and gas sector allows long-term income-seeking investors to buy and hold blue-chip dividend stocks in their equity portfolios. One top TSX stock is Tourmaline Oil (TSX:TOU), which is down almost 25% from all-time highs, increasing its dividend yield to over 5%.
Is Tourmaline Oil stock a good buy right now?
Valued at a market cap of $24 billion, Tourmaline Oil is among the largest…
