Passive income investors can easily give themselves a nice big raise by looking at some of the yield heavyweights. Of course, giving yourself a passive income boost is always harder if you're already invested in stocks yielding 3–4%. Though going for markedly higher yields – think 5-6% or more – may entail much less growth (and, with that, capital gains), they may still be worthwhile for some of the more conservative investors out there who think broad stock markets are destined to return less than 5% annually.

Indeed, in a flat or lower-returning environment for stocks, dividend plays with higher yields may very well have what it takes to hold their own. Indeed, nobody can tell the future, but if you're not willing to pay up premiums for those scorching tech stocks that only seem to know how to move higher, the steady dividend plays may be worth a look.

You're not going to build a fortune overnight with them. However, you can do pretty well over the long haul (think 10 years) as you collect your dividends and allow the steady, albeit relatively modest, pace of gains that could be in the cards.

In this piece, we'll check out two Canadian high-yielders that I view as being in the bargain bin this November. So, if you're bracing for a harsher environment for stocks, the following plays may very well be the most intriguing of bets for defensive dividend investors.

Nutrien

Nutrien (TSX:NTR) stock isn't timely in any way. The name has been a falling knife of sorts and a value trap if you bought it near its peak just a few years ago. At writing, shares of NTR are down just north of 50% from their 2022 highs.

Though the agricultural commodity miner could stay under pressure for some time, I think those comforted by the safe and secure dividend (yielding 4.5% today) may wish to give the name a look. Indeed, agricultural commodities like potash may be down and out, but they're still necessary to enhance farm crop yields. With the growing world population acting as a long-lived secular tailwind, I do think the extremely long-term narrative is still intact for Nutrien, even if it means slogging for another year or two.

Indeed, buying commodity producers on the way down can be painful. And while I'd prefer to get behind the name while on strength (let's say a rally well north of $75 per share), I'm not against starting a partial position today.

At the end of the day, Nutrien is a fantastic operator that will face cyclical upswings again.

Suncor

Suncor (TSX:SU) is another value play with a hot dividend currently yielding 4%. The energy producer may not have had as hot a run as some of its large-cap rivals. That said, the relatively cheap valuation and steadily improving operating track record make the name a tempting long-term play as it catches up to some better performers in the energy scene.

At writing, the stock goes for just 9.3 times trailing price-to-earnings (P/E). That's way too cheap for a stock that looks like it could be on the cusp of a big breakout. Either way, I view the name as a top blue-chip value play for value investors seeking exposure to Canada's energy patch.