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Canadian pensioners are searching for reliable dividend stocks to buy for their self-directed Tax-Free Savings Account (TFSA) portfolios focused on passive income. The pullback in the share prices of some of the top TSX dividend payers is giving retirees a chance to get great yields from high-quality companies.
BCE
BCE (TSX:BCE) trades near $53 per share at the time of writing. That’s off the 12-month low near $50 the stock hit last fall but is still way below the $65 BCE fetched in May last year and the $74 the stock reached at the peak in 2022.
High interest rates are driving up borrowing costs for BCE. This is putting a dent in profits. In fact, investors will likely see BCE report a drop in adjusted earnings per share in 2023 compared to the previous year. Price wars on mobile plans in the fourth quarter (Q4) of 2023 might put additional pressure on results.
That being said, the drop in the share…
