3 High-Yield Stocks From Canada to Buy With $1,000 and Hold Forever

Group 1: Bank of Nova Scotia - Bank of Nova Scotia, also known as Scotiabank, is one of the largest banks in Canada, operating under strict Canadian banking regulations that provide it with a protected market position [4] - The bank has a dividend yield of 4.2%, significantly higher than the average U.S. bank yield of 2.5%, attributed to its past investments in Central and South America which did not perform as expected [5] - Management is revamping its strategy by exiting less desirable markets and focusing on the Mexico, U.S., and Canada trading block, including a partnership and acquisition of approximately 15% of KeyCorp [6] Group 2: Brookfield Renewable Partners - Brookfield Renewable Partners is positioned as a leader in the clean energy sector, with a dividend yield of 5.3%, benefiting from the global transition from carbon-based energy to cleaner alternatives [8] - The company is expected to have significant long-term growth opportunities as the world continues to build out the necessary clean energy infrastructure [9] Group 3: Enbridge - Enbridge is identified as a North American midstream company with a dividend yield of 5.7%, contributing to a diversified investment portfolio [8]