Source: Getty Images
Stock investing can pay dividends over the long-term. Further, several corporations enhance their shareholders’ value through regular dividend payments. Investors can enjoy steady income, regardless of volatility in the market.
What’s more? Moreover, a few TSX stocks have paid dividends for over two decades. This means that investors can rely upon them for passive income regardless of economic conditions.
These all-weather dividend stocks can provide passive income for a lifetime if you have $1,000 to spare.
Enbridge (TSX.ENB),(NYSE.ENB), is one of the most reliable dividend-paying stocks. There are good reasons. It has been growing its dividend over 27 years. It also increased its dividend despite a challenging business environment. This is a reflection of the strength and resilience of its cash flows.
It’s worth mentioning that Enbridge has about 40 diverse cash flow streams. Its strong cash flow streams, including its investment-grade customers and inflation-protected EBITDA, as well as a solid mix from conventional and renewable energie assets, position Enbridge to generate strong distributable cash flows to support its payouts.
Enbridge is well placed to take advantage of organic growth opportunities. The company plans to put multi-billion-dollar capital project into service over the next few years. This will likely increase its revenue and earnings. Enbridge’s strong capital investments will not only benefit, but so will modernization of its assets and expansion of renewable capacity.
Enbridge boasts many positives that back its payouts. It also offers 6.2% dividend yield.
The list of all-weather dividend stocks won’t be complete without including Fortis (TSX:FTS)(NYSE:FTS). It is one of the safest stocks to invest in amid all market conditions. Fortis has 10 utility businesses that are regulated. These businesses, which are low-risk, generate predictable cash flows that can comfortably cover current payouts and allow for dividend growth.
Fortis stock is a conservative stock mix that makes it immune to wild market swings. It adds stability and security to your portfolio.
Its resilient and growing cash flows have allowed the company to enhance its shareholders’ value through higher dividend payments. Fortis has increased its dividend every year for the past 48 years. It plans to continue growing its dividend at a rate of 6% from 2025.
Fortis’s growing rate base is the basis of its dividend-growth forecast. Fortis plans to increase its rate base by $10.5 million through 2026, thanks to solid capital investments. Fortis’ growing capabilities in renewable power generation bode well for future growth. Fortis stock offers investors a 3.6% yield.
Bank of Montreal
Canadian banks are known for paying out dividends regularly. One of Canada’s top banks is Bank of Montreal (TSX.BMO), (NYSE:BMO), that has paid a dividend over 193 years. Meanwhile, Bank of Montreal’s dividend has grown at a CAGR of more than 4% in the last decade.
Its ability drive volumes, operating leverage and solid earnings growth supports its payouts. It is currently offering a yield of 4.5%.
Its diverse revenue base, ability drive deposits and loans volumes, higher interest rates and solid credit quality, as well as its improved efficiency, will likely increase its earnings and dividend payouts.