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High-yield dividend stocks are attractive investments for earning passive income. While the TSX has several stocks offering high yields, only a few are worth buying and holding for decades as they offer well-covered payouts and management teams dedicated to enhancing shareholder value.
Against this background, let’s look at a Canadian stock offering a high and well-protected yield of 6.9%. Investors can rely on this fundamentally strong company to earn worry-free passive income for decades.
The 6.9% dividend yield stock
For investors eyeing high-quality dividend stocks, Enbridge (TSX:ENB) stands out for its consistent record of dividend payments and growth. The energy company has paid dividends uninterrupted for over 69 years and increased them for 29 consecutive years. The company’s dividend has grown at an impressive 10% annual rate during this time, which shows the resiliency of its payouts and…
