Blue-chip companies are some of the best options for investors to pick up. And that’s in general. These are companies that have done well over decades and that aren’t going to merely disappear, even in the face of a pandemic, recession, or other market downturn.
So, that’s why we’re going to look at some of the top blue-chip stocks that also offer dividends — ones due to rise out from this volatility, offering a major dividend yield in the meantime. So, let’s get right to it.
BCE stock
Shares of BCE (TSX:BCE) have fallen quite drastically over the last while, but it now looks to be a stock that investors should hop back on for a great deal. After all, BCE stock (or the Bell Company) has been around for four decades on the market but over 100 years as a company. In that time, it’s grown from producing telephones to being a major media organization.
However, a recent move by the Canadian Radio and Television Commission (CRTC) to increase competition left BCE stock and investors unhappy. The company reduced its growth for fibre-to-the-home (FTTH), as the CRTC stated large companies need to share their current FTTH to allow for competition.
Add in that the company saw some decreases in the last quarterly report, and shares have fallen by 14.5% in the last year. This could indeed create a great opportunity, however, for long-term investors. You can grab a 7.14% dividend yield as of writing while it trades at just 22.2 times earnings. So, it’s definitely one of the blue-chip stocks to consider.
Constellation Software
Granted, Constellation Software (TSX:CSU) may not look like a blue-chip stock with a seriously high dividend yield. But it does offer seriously high returns. And returns that should remain stable for the years to come.
This comes as Constellation stock passes the $3,000-per-share mark, even amid all this volatility. That’s because it’s a blue-chip stock offering essential software. The company has seen immense growth by acquiring companies and pushing them out for more revenue.
Sure, Constellation stock may have just a 0.17% dividend yield, but that comes with stable income through returns. In fact, shares of Constellation stock are up a whopping 54% in the last year alone. So, it’s another to consider on the TSX today.
Fortis
If you’re looking for the most stability possible, utility stocks offer that in spades. But among them, Fortis (TSX:FTS) may offer the best deal. Fortis stock is now one of just two stocks on the TSX today that hit Dividend King status. That’s 50 years of consecutive dividend increases. So, even as interest rates may hurt the stock somewhat, investors can be sure it will recover.
Why? Because it’s done it before — over and over again. While shares dropped after investors swarmed utility stocks during market volatility, it’s now offering a great deal. Fortis stock holds a dividend yield of 4.18%, which is far higher than the 3.64% average yield of the last five years. Further, shares are already up 6% in the last year, offering some returns as the market recovers. So, certainly consider this blue-chip stock as the market rebounds.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
