These days of volatile stock markets have been hard when it comes to finding the right stocks to invest in. This includes dividend stocks as well. Just because a stock provides you with passive income, doesn’t mean it’s perfect. But when it comes to these two dividend stocks, to me, they are perfection.
In the case of the two dividend stocks I’m about to discuss, they’re my go-to choices. The ones where if I get a windfall, or even just have some dividend income to reinvest, these are my first choices. The main reason? Both are in stable sectors that are only due to grow. So let’s get to them, and look at how much an investment today could create in passive income each year.
Brookfield Renewable
Renewable energy, and ideally clean energy, is the future of power. While oil and gas prices rose during the last few months, you’ve likely already seen them fall back down to earth lately. That just goes to show that the trend of less predictable oil and gas demand in this typically stable sector isn’t a trend at all. It’s here to stay.
Instead, it’s a great time to get into clean energy companies like Brookfield Renewable Partners LP (TSX:BEP.UN). Brookfield is backed by Brookfield Asset Management, which has been around since the 1890s, investing in clean energy production even back then. So when I say it has a history in clean energy, I mean it.
But what about the future? Renewable energy is the future. And Brookfield has exposure to every type of clean energy asset there is, including nuclear power through partnerships with uranium producers. Yet, the stock remains so cheap given its future performance.
Brookfield stock trades at 1.5 times book value. It offers a 5.01% dividend yield investors can lock in right now with shares down 18.3% in the last year, as of writing. Therefore, it will continue to be one of the dividend stocks I’ll buy until I die.
NorthWest REIT
So that’s the future, but what about stability right now? This is why another top choice of mine again and again is NorthWest Healthcare Properties REIT (TSX:NWH.UN). NorthWest stock is in the stable healthcare sector, and within that the even more stable healthcare property sector. Because it would be pretty hard to up and destroy a hospital, don’t you think?
But NorthWest is into even more than just hospitals, and in more than one location. The company purchased a healthcare real estate investment trust (REIT) in Australia, more properties in the United States, and continues to seek out acquisition opportunities.
Now, this investment activity supporting future growth is why the company has yet to increase its dividend yield. Even so, it provides a substantial yield at 8.42% as of writing. And that’s while it continues to trade at just 8.3 times earnings and 0.92 times book value. That’s well within value territory for such a high yield.
Bottom line
If you were to invest $15,000 into both of these stocks today, below is what you could get from passive income alone.
| COMPANY | RECENT PRICE | NUMBER OF SHARES | DIVIDEND | TOTAL PAYOUT | FREQUENCY |
| BEP.UN | $35.97 | 417 | $1.72 | $717.24 | annually |
| NWH.UN | $9.67 | 1552 | $0.80 | $1,241.60 | annually |
So now you can see exactly why I’ll be picking up these dividend stocks and buying them on repeat until the day I pass out.
The post TFSA Investors â 2 Dividend Stocks I’ll Buy Until I Die appeared first on The Motley Fool Canada.
Free Dividend Stock Pick: 7.9% Yield and Monthly Payments
Canadaâs inflation rate has skyrocketed to 6.9%, meaning youâre effectively losing money by investing in a GIC, or worse, leaving your money in a so-called âhigh interestâ savings account.
Thatâs why weâre alerting investors to a high-yield Canadian dividend stock that looks ridiculously cheap right now. Not only does it yield a whopping 7.9%, but it pays monthly!
Hereâs the best part: Weâre giving this dividend pick away for FREE today.
Claim your free dividend stock pick
* Percentages as of 11/29/22
setButtonColorDefaults(“#5FA85D”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43A24A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()
More reading
- TFSA Investors: Invest $35,000 for $1,808 in Income Every Year
- 3 Ultra High-Yield Dividend Stocks That Are Too Cheap to Ignore
- 3 TSX Stocks to Buy for Monthly Passive Income in 2023
- 2 Canadian Stocks I’ll Be Buying Hand Over Fist in 2023
- The 3 Top Monthly Dividend Stocks for January 2023
Fool contributor Amy Legate-Wolfe has positions in Brookfield Renewable Partners and NorthWest Healthcare Properties Real Estate Investment Trust. The Motley Fool recommends Brookfield Asset Management, Brookfield Renewable Partners, and NorthWest Healthcare Properties Real Estate Investment Trust. The Motley Fool has a disclosure policy.