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So far, 2024 has been pretty good for most TSX stocks. The TSX Index is up 4.7% this year. While the outlook for Canadian stocks continues to be decent for the remainder of the year, investors need to be choosey what sectors and stocks they own.
There continue to be some nasty headwinds, especially for sectors that are debt-heavy and have significant regulatory oversight. Here are three well-known dividend stocks that I wouldn’t touch with a 10-foot pole right now.
The first TSX stock to be very cautious about is BCE (TSX:BCE). Many dividend investors might be tempted by its massive 8.6% dividend yield. Many investors wish to believe that the stock’s $41 billion market cap makes it too big to fall further or too big to cut its dividend.
Well, for context, it was a $65 billion company only two years ago. Nothing stopped it from losing over 35% of its value. BCE is facing headwinds from numerous…
