2 Ultra-High-Yield Dividend Stocks You Can Buy and Hold for a Decade

The market is rife with great ultra-high-yield dividend stocks, but there are two in particular that stand out for investors right now.

Consider buying this gem today

One of the first ultra-high-yield dividend stocks for investors to consider right now is Enbridge (TSX:ENB). Enbridge, for those who are unfamiliar with the stock, is one of the largest energy infrastructure companies on the planet.

The company is best known for its lucrative pipeline segment, which generates the bulk of its revenue. That income is both recurring and reliable, but more importantly, it’s not all of what Enbridge offers investors.

Enbridge also boasts a growing renewable energy arm as well as one of the largest natural gas utilities in North America.

If that’s not enough to entice investors, Enbridge also has an immense backlog of projects measured in the billions. Some of those initiatives are slated to come online within the next year, adding to the company’s insane revenue potential.

Perhaps the best reason to invest in Enbridge is for what makes it one of the ultra-high-yield dividend stocks to buy. Enbridge offers a juicy quarterly dividend that pays out a very tasty 6.2% yield.

Enbridge has also provided annual upticks to that dividend going back three decades without fail. That fact alone makes this one of the better-paying options on the market and a prime candidate for investors seeking ultra-high-yield dividend stocks.

Telecoms can provide juicy yields too

Another option for investors looking for those ultra-high-yield dividend stocks to buy is Telus (TSX:T). Telus is one of Canada’s big telecom stocks, offering the typical bevy of subscription-based services to its customers across Canada.

Like its telecom peers, Telus offers its services across four key segments that include wireless, wireline, TV and internet. Where Telus differs from its big telecom peers, however, comes in the form of its lack of a media segment.

The lack of a media group has allowed Telus to avoid much of the advertising and capital squeeze that its peers have endured over the past few years. That being said, Telus still felt that market contraction as the stock has retreated nearly 5% over the past 12-month period.

That pullback (which is shrinking by the day) represents an opportunity for would-be investors looking for ultra-high-yield dividend stocks. As of the time of writing, Telus offers a quarterly dividend with a very tasty 7.1% yield. That makes it one of the top yields on the market.

Investors should note that like Enbridge, Telus has an established practice of providing annual upticks to that dividend. In the case of Telus, that tradition goes back nearly two decades.

Why you need these ultra-high-yield dividend stocks

One misconception among newer investors is that dividend stocks are only needed when you intend to draw an income. In reality, that couldn’t be further from the truth.

Both Enbridge and Telus provide appetizing dividends that could provide a tasty income or significant growth by reinvesting those dividends. This allows any eventual income to grow on autopilot until the time comes to begin taking that income.

In my opinion, both Enbridge and Telus are stellar ultra-high-yield dividend stocks. Both would do well in any diversified portfolio.

Buy them, hold them, and watch them (and your income) grow.