Are you on the hunt for TSX stocks that pay you handsomely and consistently? Ultra-high-yield dividend stocks could be just what you need. Many fundamentally strong companies listed on the Toronto Stock Exchange offer incredible payouts that can boost your income and provide financial stability.

As we come closer to the end of July, a few dividend stocks are worth considering as they could offer attractive returns and a steady stream of cash to help you weather the market volatility. In this article, Iâll talk about two such ultra-high-yield dividend stocks that are screaming buys in July.

BCE stock

BCE (TSX:BCE) is the first top dividend stock in Canada you may want to add to your portfolio right now. This Verdun-based telecom company currently has a market cap of $41.5 billion as its stock trades at $45.34 per share after sliding by around 13% year to date. The recent declines in BCEâs share prices, however, make its annualized dividend yield of 8.8% look even more attractive.

While BCE is likely to announce its second-quarter results in the first week of August, its first-quarter results reflected a strategic focus on operational efficiencies and innovative offerings.

Despite economic and competitive pressures, the companyâs first-quarter adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) rose 1.1% from a year ago to $2.6 billion due mainly to a reduction in operating costs. With this, the Canadian telecom giant not only exceeded expectations but also achieved a 42.7% adjusted EBITDA margin, reflecting a 0.8% improvement on a YoY (year-over-year) basis. Its subsidiary Bell Mediaâs digital revenue saw significant growth last quarter, rising by 33% due to robust performance in digital platforms and advertising technology.

As BCEâs gradual strategic shift towards digital media and technological solutions is likely to drive revenue growth and operational efficiencies in the coming years, I expect this high-yield dividend stock to outperform the broader market in the years to come.

Superior Plus stock

Superior Plus (TSX:SPB) could be another attractive, high-yield dividend stock you can consider in July. This Toronto-based company mainly focuses on the distribution of propane, compressed natural gas (CNG), and other energy products. It currently has a market cap of $2 billion as its stock trades at $8.07 per share with nearly 16% year-to-date losses. Just like BCE, Superior Plus stock also offers a really impressive 8.8% annualized dividend yield at the current market price.

Strength in its propane business and the strong performance of its subsidiary Certarus helped Superior Plus achieve a record first-quarter adjusted EBITDA of $235.6 million, reflecting around 15% YoY improvement. Although warmer weather affected the demand, the companyâs U.S. propane segment still managed to post positive growth in adjusted EBITDA.

Itâs true that recent declines in the prices of energy products could affect Superiorâs profitability in the near term. Nevertheless, its investment in cleaner fuel alternatives and continued focus on stable energy solutions and market expansion brightens this dividend stockâs long-term financial growth outlook, which could drive its share prices higher.

The post 2 Magnificent Ultra-High-Yield Dividend Stocks That Are Screaming Buys in July appeared first on The Motley Fool Canada.