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It’s not very common that you find ultra-high yields among the very largest stocks in a given country. In large countries like the U.S. and China, the biggest companies are tech firms, and those don’t pay very much in dividends. Canada is a little different. The TSX Index is currently dominated by banks, telecommunications companies, and energy companies. As a result, some of its largest constituents have very high dividend yields. In this article, I will explore one high yield stock with a 6.7% payout that dominates the TSX Composite Index.
Enbridge
Enbridge Inc (TSX:ENB) is a Canadian pipeline stock that pays a $0.92 quarterly ($3.68 annual) dividend. At today’s stock price of $55, it provides a 6.7% yield. As the fourth largest company in Canada by market cap, Enbridge dominates the TSX Energy sector.
To put ENB’s yield in perspective:
Let’s imagine you invested $100,000 into Enbridge…
