Finding high-quality TSX dividend stocks that offer high yields can be appealing. These stocks can help you considerably grow the passive income your portfolio generates. However, as appealing as a high-yield dividend stock is, it’s essential that the stocks you choose to buy have safe and sustainable dividends.
Not only do you want to avoid having your dividends cut, as it will impact the passive income you expect to generate, but in addition, when companies cut their dividends, they often see a massive hit to their share prices.
So, with that in mind, let’s look at three of the top TSX stocks with yields above 7% and whether or not those attractive dividends are sustainable or not.
One of the best dividend stocks in the energy sector
The majority of energy stocks return cash to investors through a dividend, but while there is plenty of choice for investors, one of the top picks on the TSX has to be Freehold Royalties (
