Since June 2014, the price of a barrel of oil has taken a big hit. When such things happen, the stock market reacts quickly and penalizes companies in this industry. We saw what happened back in 2008 with banks; this time, it's the oil industry. But there is very good news coming with any stock drop; the dividend yield soars higher. This might be the opportunity you are looking for to buy cheap shares of high yielding dividend stocks. I’ve pulled out 9 oil industry companies paying over 4% in dividend yields.
My favorite is definitely HP (but I own shares of it already). Then, I must think of Calfrac Wells Services. It shows greater risk due to its business model and market cap but it could boost your portfolio in a serious manner if oil prices shoot back up.
Source: Seeking Alpha
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