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Investing in dividend stocks with high yields can help generate solid passive income, especially as interest rates are on a downtrend. However, investors should focus on TSX stocks with fundamentally strong businesses, resilient earnings bases, and sustainable payouts. Such Canadian stocks are most likely to generate reliable income in all market conditions. Against this background, here are three stocks that can help secure a 7% yield.
Telus
Telus (TSX:T) is one of the top TSX stocks offering high and reliable yields. The leading wireless service provider’s ability to generate consistent earnings and sustainable payouts enables it to reward its investors with higher dividend payments and share buybacks. Notably, Telus has raised its dividend 27 times since 2011 under its multi-year dividend-growth program. Moreover, it has paid over $21 billion in dividends since 2004. Besides solid payouts, the…
