3 Companies With Rising Dividends to Boost Your Retirement Wealth

When it comes to investing for the long term and building your retirement wealth, it’s important to find high-quality investments that can grow your capital at a consistent and fast pace, making sure you’re as comfortable as possible. However, as important as it is to find high-quality stocks for retirement and the dividends they provide, it’s also important to focus on finding reliable stocks that you trust.

This is why investing for retirement is so important, especially if you can start as early as possible. The faster your investment grows in value, the better off you are. However, it is most important to ensure that you don’t take too many risks and potentially lose a significant chunk of the nest egg you have earmarked for retirement.

So, with that in mind, if you’re looking for high-quality and reliable dividend stocks for retirement, here are three options that can provide growing passive income as well as protect your capital.

A top utility stock that can be bought for growing dividends through your retirement

Some of the best stocks to buy if you’re looking for growing passive income, as well as safe and reliable companies to own through your retirement, are highly regulated utility stocks such as. Emera (TSX:EMA).

Utility stocks like Emera are good investments because the gas and electric services it provides to customers are important. Therefore, the demand for these services does not usually see much change, even when the economic situation worsens.

Furthermore, in addition to being defensive, utility stocks are heavily regulated by governments. Therefore, the income, cash flow and profits they earn are usually very predictable, which reduces the risk of the investment.

This allows utility stocks like Emera to regularly invest in expanding operations and growing the business, which, in turn, leads to consistent dividend increases every year.

That’s why Emera is an excellent stock to buy and hold for the long term. It’s perfect for investors heading into retirement because it’s one of the most reliable stocks on the market, paying a dividend that currently yields more than 5% and has grown that dividend for 16 consecutive years. today.

A leading Canadian telecom stock

BCE (TSX:BCE) is another high-quality, blue-chip stock that investors heading toward retirement can buy for its dividend income.

Because it is a large and dominant company in an industry that is quickly becoming important and has significant barriers to entry, BCE is the perfect stock to buy if you want to increase your passive income.

Although it is not as regulated as Emera, BCE is still a reliable stock that can weather the storm of the economic downturn. In addition, because it is a cash cow and regularly generates billions in cash flow, BCE is another Dividend Aristocrat that provides investors with increasing passive income every year.

BCE currently offers a yield of nearly 6.4% and has increased its dividend for 14 consecutive years. In addition, over the past five years, the dividend has increased by more than 28%, showing what a high-quality investment it is for retirement investors looking to increase their dividend income.

A top Canadian dividend stock with a yield of over 7.3%

In addition to BCE and Emera, Enbridge (TSX:ENB) is another impressive dividend stock that is good for investors building a retirement portfolio.

Although Enbridge’s operations are very different than BCE’s, in many ways, it is a similar investment.

Most of its operations are primarily defensive and important to the North American economy. In addition, Enbridge is another large blue-chip stock with a dominant position in an industry with high barriers to entry. And like BCE, Enbridge also has many long-lived assets that regularly generate billions in cash flow, making it another cash cow.

This has allowed Enbridge to increase its dividend for 27 consecutive years now, showing what is an impressive track record not only in growing its business but also in its ability to weather the storm when the a recession.

And with the stock trading slightly below 20% of its peak, it now offers a dividend yield of more than 7.3%. In addition, in the last five years, it has increased its dividend by 32%, which shows what an ideal stock for investors who are building a portfolio for retirement.