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Dividend stocks are set to dominate the TSX in 2024, as the market reverses its course and makes borrowing less expensive. If you notice, 2023 was bearish for companies with high debt on their balance sheet. The stock price of several Dividend Kings like BCE, Enbridge (TSX:ENB), and TC Energy fell, owing to rising interest expenses on their debt. Enbridge stock slumped 22% in the first 10 months and reversed its course in the last two months as winter increased natural gas consumption.
This 7% dividend stock is set to dominate the TSX
A slump in Enbridge’s stock price inflated its dividend yield above 7% throughout the year. The pipeline operator has been building gas pipelines to tap the opportunity of exporting liquified natural gas (LNG) to Europe. And it will reap the benefits of the same in 2024 and beyond.
In November, Enbridge’s 2024 guidance expects operating profit to grow to…
