2 High-Yield Dividend Stocks to Buy in March

The S&P/TSX Composite Index dropped 186 points on Monday, March 13. Energy and Financials, the heaviest weighted sectors on the TSX, were also the hardest hit to start the week. Global markets have been rattled by news of Silicon Valley Bank’s collapse and the subsequent failure of Signature Bank that was revealed on Sunday.

Today, I want to take a quick look at two high-yield dividend stocks that are worth targeting in this turbulent climate.

TC Energy (TSX:TRP)(NYSE:TRP) is a Calgary-based energy infrastructure company. Shares of this energy stock have dropped 21% year over year. However, the stock is up 0.9% so far in 2023.

In Q4 2022, TC Energy delivered comparable EBTIDA of $2.68 billion – up from $2.39 billion in the previous year. Meanwhile, comparable EBTIDA rose to $9.90 billion for the full year which was up from $9.36 billion in fiscal 2022. TC Energy offers a quarterly dividend of $0.93 per share. That represents a very tasty 6.9% yield.

Laurentian Bank (TSX:LB) is a regional bank that primarily operates in its home province of Quebec. The banking sector has taken its lumps in the United States in 2023. Fortunately, Canadian financial firms have appeared resilient in the face of rising interest rates.

Shares of this regional bank stock possess a favourable price-to-earnings ratio of 6.6. Better yet, it offers a quarterly dividend of $0.46 per share, which represents a strong 5.7% yield.