5 Undervalued Canadian Dividend Stocks You Should Consider Investing

Dividend investing is a great way to ensure that you create passive wealth during both bull and bear markets.

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Investors who have a low-risk appetite generally purchase dividend stocks. Investors who want a part of their portfolio in ‘safe’ territory also opt to buy a certain amount of dividend stocks.

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Here are 5 Canadian dividend stocks that are undervalued, and will likely deliver long-term stock price appreciation as well.

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Undervalued Canadian Dividend Stock #1: Royal Bank of Canada (RY)

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Royal Bank of Canada is one of the leading banks in Canada. After losing close to 10% of its value, the Royal Bank stock is now highly undervalued and is close to its 52-week low.

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This could be a great buying opportunity when you consider that banks usually do well when interest rates move up.

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Its provision on performing loans was higher by $244 million driven by the reduced uncertainty in the market.

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Undervalued Canadian Dividend Stock #2: BCE Inc. (BCE)

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BCE is a telecommunication provider that primarily operates through three segments: Bell Wireless, Bell Wireline, and Bell Media.

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Just like most stocks due to the ongoing broader market correction the BCE stock has ended up losing around 10% of its value in the second quarter.

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