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The TSX Composite Index is no slouch when it comes to dividends. Boasting a 3% yield, the average TSX index fund yields more than double an average S&P 500 index fund. It’s a pretty good index for income.
However, there are some individual TSX stocks that make the index’s yield look quaint. In the banking, real estate and pipeline sectors, you can easily find stocks paying out more than 6% per year in dividends. In this article, I will explore one Canadian stock that dominates its sector while paying out big dividends.
Enbridge
Enbridge (TSX:ENB) is a Canadian dividend stock with a 7.6% yield at today’s prices. The company operates the biggest crude oil pipeline network in North America, supplying 25% of the crude consumed on the continent. It also runs a natural gas utility, supplying 75% of Ontario’s gas heating.
Why it has such a high yield
The reason why Enbridge stock has such a high
