5 Canadian Dividend Stocks to Buy for 2022

4. BCE Inc. (NYSE:BCE)

Number of Hedge Fund Holders: 15
Dividend Yield: 5.52%

BCE Inc. (NYSE:BCE) is a Canadian communications company that provides media and internet services to its consumers. In Q3, the number of hedge funds having stakes in the company grew to 15, from 14 in the previous quarter. These stakes hold a consolidated value of $129.1 million, up from $113.2 million.

BCE Inc. (NYSE:BCE) pays an annual dividend of $2.77 per share. The stock’s current dividend yield stands at 5.52%. In Q3, the company reported solid results, earning C$5.84 billion in revenue, beating estimates by C$100 million. Moreover, BCE Inc. (NYSE:BCE)’s IPTV net subscriber activations grew by 10.2%.

This November, Scotiabank raised its price target on BCE Inc. (NYSE:BCE) to C$68, while maintaining an Outperform rating on the shares. In 2021, the stock surged 16.7%, as of the close of December 14.