Image source: Getty Images
The TSX is seeing a pullback as the US Fed kept the interest rate unchanged at 5.25% and reduced the 2024 rate cut instances from three to one. Instead of a 1.25 percentage point cut, there will now be only a 25 basis point cut, keeping the US interest rate at 5%. The US Fed’s tighter monetary policy reversed the TSX surge from the Bank of Canada’s rate cut in early June. Several dividend stocks nosedived, inflating their yield. One such stock is BCE (TSX:BCE).
This TSX stock is offering an 8.86% dividend yield
BCE stock recovered slightly in June, rising 3.4% as the Bank of Canada cut its hkey benchmark lending interest rate. However, the Fed’s decision reversed the effect, and the stock fell 4.1%. This dip has given you an opportunity to lock in an 8.86% dividend yield.
Yield = Dividend per share as a percentage of stock price
The stock price of BCE has fallen by 25% in the last 12 months, and…
