If you're looking for a top dividend stock to invest in, some of the things you'll likely want are a good dividend yield and some stability. And one TSX stock that offers that is BCE Inc. (TSX:BCE)(NYSE:BCE). Today, its dividend is yielding 5.7% per year. That's far better than what you can earn with most other dividend stocks. On a $25,000 investment in the stock, you could be earning $1,425 in recurring dividend income every year.
One of the best aspects of BCE's stock, however, is its stability. You won't be investing in this stock expecting astronomical gains, otherwise you'd be sorely disappointed; year to date, shares of BCE are down 3% this year and they've underperformed the TSX which is up by 3%.
But if you're primarily looking to collecting the dividend, then what the price does shouldn’t be too big of a concern. With a beta value of around 0.32, BCE's stock is fairly stable and it will hold fairly steady over time, likely achieving small gains over the years.
With a strong and stable business, BCE is the type of stock you can buy and forget about and that you can rely on to generate regular income for your portfolio.
As long as your expectations aren't high for the stock where you're hoping it'll double in value anytime soon, then this could make for a great long-term investment. After all, even with an average 1% or 2% climb in price every year, when coupled with its dividend, you can have some, consistent, strong returns over the years.
