8. Enbridge Inc (NYSE: ENB)
Dividend Yield: 7.76%
Revenue: $37.5 billion
Market Cap: $89.64
Assets: $125.9 billion
Headquarters: Calgary, Canada
Enbridge is one of the best MLP and Pipeline stocks to buy. It is a North American energy infrastructure company and a global leader in the transport of crude oil, natural gas, and natural gas liquids. According to Yahoo Finance, Enbridge pays an annualized dividend of $2.56 per share yielding at 7.76%. Enbridge has paid dividends to its shareholders for more than 66 years, and over the last 26 years, the dividend payout has grown at an average compound annual growth rate of 10%.
7. Brookfield Property Partners (NASDAQ: BPY)
Dividend Yield: 7.80%
Revenue: $1.54 billion
Market Cap: $17.02 billion
Assets: $21.97 billion
Headquarters: New York, NY
Brookfield Property ranked 7th on our list of the very high yield dividend stocks. Brookfield Property is a major player in the global real estate industry. Brookfield Property pays an annualized dividend of $1.33 yielding 7.80%. In a Q2 2020 investor letter by Horos Asset Management, the firm highlighted a few stocks and Brookfield Property Partners L.P. (NASDAQ: BPY) is one of them wherein they stated:
“The Canadian company Brookfield Property Partners (“BPY”) is one of the largest real estate asset managers in the world. It owns, operates, and develops a large portfolio of office, retail, multi-family, industrial, hospitality, and student housing properties, among others. The company has seen a significant stock price decline this year of about 65%, caused—as it cannot be otherwise—by the great impact of the coronavirus pandemic on the occupation and use of its assets. To this, we must add the market’s structural fear regarding BPY’s high exposure to shopping centers, where bankruptcies and closures have occurred in recent years due to changes in the population’s consumption patterns given the rise of e-commerce.
Despite this, we think that BPY provides an interesting window of opportunity to invest at this time. The reasons? On the one hand, the company’s portfolio of shopping centers is of high quality and has been acquired at very attractive prices (see, for example, the acquisition of General Growth Properties). On the other hand, BPY is controlled—51% of the capital—by Brookfield Asset Management, one of the world’s largest alternative asset managers and possibly one of the best teams allocating the capital of its companies. In the case of BPY, this translates into value-creating acquisitions, high dividend payments, and share buybacks with a high discount on Net Asset Value (NAV). As an example of this, on July 2 BPY announced the offer to buy back its own shares for about 8% of the company’s capital.
In short, investing in BPY means buying a global and diversified portfolio of assets with a high discount on its NAV (of 70% at the stock price lows) and partnering with outstanding capital allocators, who will take the necessary measures to reduce this discount and unlock the real value of these assets.”
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