Trade tensions and U.S. President Donald Trump’s changing tariff announcements continue to stoke investors. Meanwhile, the Toronto Stock Exchange (-1.7%) has been more resilient thus far in 2025 compared to the S&P 500 Index (-10.1%) in New York. Spikes and dips are common in recent weeks due to elevated volatility. However, on the bright side, several quality stocks trade at discounted prices. Aecon Group (TSX:ARE) is a high-yield dividend opportunity. At $17.07 per share, the industrial stock is down 36.6% year-to-date but pays a lucrative 4.5% dividend. The quarterly payouts should make up for the weakness until the eventual recovery. Positive indicator Aecon operates in Canada’s critical infrastructure sector. This $1.1 billion engineering and construction firm takes on public and private infrastructure projects. The positive indicator for future performance is the solid backlog. At year-end 2024, management reported a $6.7 billion backlog. In Q4 2024, revenue and profit rose 12.1% and 45.4% year-over-year to $1.3 billion and $14.1 million, respectively. For the full year, revenue declined 8.6% to $4.2 billion versus 2023. Aecon President and CEO Jean-Louis Servranckx said, “Driven by robust year-end backlog, significant new contract awards, contributions from strategic acquisitions, solid recurring revenue, and a strong bid pipeline, revenue in 2025 is expected to be stronger than 2024.” The resilient and diversified business model is a competitive advantage. Two core segments, Construction and Concession, are the revenue contributors. “Aecon is actively engaged in delivering several major long-term projects under more collaborative models and is focused on advancing them to the construction phase in 2025 and 2026,” added Servranckx. Aecon’s large and diverse utility infrastructure assets provide business stability. Total utilities’ recurring revenue in 2024 reached $610 million. In addition to the increasing infrastructure investments across its focus areas, Canada’s exposure to the resources sector will drive additional demand among private clients. More importantly, the company has no debt or working capital credit facility maturities until 2027. Favourable demand environment There is a favourable, strong demand for services in the Construction segment, not only in North America, but also in international markets. As mentioned, progressive design-build or alliance model projects will move into the construction phase this year and the next. The Concessions portfolio is likewise growing. The collaborative projects in development phases that present significant long-term growth opportunities include the Scarborough Subway Extension Stations, Rail and System (SRS), and two airports in the U.S. Virgin Islands. Aecon plans to make strategic investments in its operations to support access and entry into new markets and increase operational effectiveness. Management also knows that tariffs and non-tariff measures could increase purchased material costs or reduce availability. Reliable dividend payer Aecon’s depressed price doesn’t indicate a frail company. Nearly all sectors are underperforming under the current market environment. Remember, the company started paying dividends in November 2007 and hasn’t missed a quarterly payment since. The stock can provide investors with recurring cash flow streams for years. Given the 34.7% payout ratio, the dividends should be safe and sustainable. Assuming you purchase 505 shares today, your $8,938.50 investment will produce $100.11 in passive income every quarter.