5 Canadian Dividend Stocks for Steady Income

2. BCE Inc. (NYSE:BCE)

Number of Hedge Fund Holders: 12

Dividend Yield as of April 1: 5.11%

BCE Inc. (NYSE:BCE) is a telecommunications and media company based in Verdun, Canada. The company is involved in providing fixed line and mobile telephony, digital television, radio broadcasting, print, and internet services. 

On February 3, BCE Inc. (NYSE:BCE) declared a C$0.92 per share quarterly dividend, a 5.1% increase from its prior dividend of C$0.88. The dividend is payable on April 15, to shareholders of record on March 15. The stock delivers a dividend yield of 5.11% as of April 1. 

The investment advisory Argus raised the price target on BCE Inc. (NYSE:BCE) to $60 from $54 and kept a Buy rating on the shares on March 23, citing the stock’s consistent returns and dividend growth. The firm believes these traits warrant a higher than industry average valuation for BCE Inc. (NYSE:BCE).

Among the hedge funds tracked by Insider Monkey, Renaissance Technologies held the largest stake in BCE Inc. (NYSE:BCE), with 789,371 shares worth over $41 million. Overall, 12 hedge funds were bullish on the stock at the end of December 2021.