Money RRSP Investors: 2 Dividend Stocks to Buy on a Market Pullback

23:35  05 february  2018
23:35  05 february  2018 Source:   fool.com

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Some investors are concerned that rising interest rates could trigger a downturn in the Canadian housing market . A total meltdown would certainly hit the banks, but most analysts predict a gradual pullback , and Bank Both stocks should be solid buy -and-hold picks for a dividend -focused RRSP .

Equity markets could be setting up for a much-needed pullback , and investors with some cash on the sidelines in their RRSPs are wondering which stocks might be attractive picks. Both stocks should be solid buy -and-hold picks for a dividend -focused RRSP .

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Equity markets could be setting up for a much-needed pullback, and investors with some cash on the sidelines in their RRSPs are wondering which stocks might be attractive picks.

Let’s take a look at Enbridge Inc.(TSX:ENB)(NYSE:ENB) and Bank of Nova Scotia(TSX:BNS)(NYSE:BNS) to see why they should be on your radar.

Enbridge

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Enbridge Inc

ENB

4 Stocks to Add to Your TFSA After the Market Slide

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Here's why Enbridge Inc. (TSX:ENB)(NYSE:ENB) and Bank of Nova Scotia (TSX:BNS)(NYSE:BNS) deserve to be on your radar.

Here are 10 of the best dividend stocks to buy now, and Together, this basket of the best stocks to buy for 2018 should outperform the market . While the Cambridge Analytica data scandal set shares back in the first quarter, that's a blessing in disguise for anyone looking to buy on a pullback .

34.37
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Bank of Nova Scotia

BNS

62.29
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-3.26%
S&P/TSX Composite

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15,334.81
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S&P/TSX Venture Composite

ISPVX

803.23
-8.45
-1.04%

Enbridge completed its $37 billion takeover of Spectra Energy last year in a deal that created North America’s largest energy infrastructure company.

Spectra added important gas assets and provided a nice boost to the capital plan. In fact, Enbridge plans to complete about $22 billion in near-term projects over the next three years.

As the new assets go into service, management expects cash flow to increase enough to support annual dividend hikes of at least 10% through 2020.

Enbridge is shifting its strategy to focus on regulated businesses and plans to sell $10 billion in non-core assets, of which $3 billion could be sold in 2018. The company will use the proceeds to reduce debt and strengthen the balance sheet.

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Stock Market News. Latest Investing News. Gainers & Losers in the Market Today. 3 Top Dividend Stocks to Buy Now. Market pullbacks aren't all that fun for investors who don't have much cash on the sidelines.

But it’s worth remembering that the stock market never goes up in a straight line, and buying on pullbacks like the current one may provide great returns. Still, despite these results and a generous 3.6% dividend , investors haven’t been interested.

Enbridge has a strong track record of dividend growth, so investors should feel comfortable with the guidance. At the time of writing, the stock provides a yield of 5.8%.

Bank of Nova Scotia

Investors often overlook Bank of Nova Scotia in favour of its larger peers, but the company probably deserves more respect.

Why?

Bank of Nova Scotia has invested heavily in Latin America in recent years, with a particular focus on Mexico, Peru, Chile, and Colombia. The four countries are the core of the Pacific Alliance, a trade bloc set up to promote the free movement of goods and capital among the member states.

As the middle class grows in the combined market of more than 200 million consumers, Bank of Nova Scotia stands to benefit from increased demand for loans and investment products.

The international operations already account for about 30% of the bank’s net income.

Some investors are concerned that rising interest rates could trigger a downturn in the Canadian housing market. A total meltdown would certainly hit the banks, but most analysts predict a gradual pullback, and Bank of Nova Scotia’s mortgage portfolio is capable of riding out a rough patch.

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  Retirees: Flock to These Stocks in a Wobbly Market A shaky stock market should lead retirees to stocks such as Bank of Nova Scotia (TSX:BNS)(NYSE:BNS) and Andrew Peller Ltd. (TSX:ADW.A).The fundamentals of the U.S., Canadian, and global economy remain very strong. However, a bull run that has dated back to 2009 has shown signs of strain. For those nearing retirement, it may be time to adjust your portfolios and stack up on dividend-yielding stocks that offer stability in the long term.

After a recent pullback in some top dividend stocks , Canadian investors have some good deals available to beef up their RRSP portfolios. Banks and utilities are my two favourite segments to consider due to their solid dividend growth and their ability to bound back when markets return to

Here is why Toronto-Dominion Bank (TSX:TD)(NYSE:TD) is one of the two dividend stocks that offer good long-term value to TFSA investors .

Overall, rising interest rates tend to be a net positive for the banks.

Bank of Nova Scotia’s dividend provides a yield of 3.9%.

Is one more attractive?

Both stocks should be solid buy-and-hold picks for a dividend-focused RRSP. I would probably split a new investment between the two companies today.

These are household names, but stocks with a lower investor profile are also worth considering when the market pulls back.

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For the full behind-the-scenes story straight from Motley Fool Canada, just click here now.

Fool contributor Andrew Walker owns shares of Enbridge. The Motley Fool owns shares of Enbridge. Enbridge is a recommendation of Stock Advisor Canada.

After the market's terrible day, the devil's in the quarter-point detail .
Whether the market's thrashing on Friday was sharp or devilish comes down to a quarter point. The Dow Jones industrial average ended its first tumultuous week in a year by suffering a pullback of more than 2.5 percent. It closed down 665.75 points. Cue all the headlines and splashy photos with devil references by market groups who rounded the closing figure up to 666. Even CNBC went with the 666 figure after some internal debate.

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