The Globe and Mail reports in its Wednesday, June 5, edition that if the Bank of Canada cuts interest rates this week, it is go-time for dividend stocks. The Globe's Rob Carrick writes that Global X vice-president Naseem Husain says, "As rates go lower, that's when you're going to see dividend ETFs and dividend companies come back." Mr. Carrick notes that you can get yields as high as 6 per cent to 8 per cent from some blue-chip stocks right now. Yet billions of dollars are sitting in low-risk cash equivalent ETF products paying almost 5 per cent. Some dividend stocks have participated fully in the stock market rally of the past while, but a raft of stalwart names have remained in the penalty box. While the S&P/TSX Composite Index was up 6.5 per cent for the year through May on a total return basis, the S&P/TSX Canadian Dividend Aristocrats Index was up 1.9 per cent. Among the stocks in this index are Enbridge, TC Energy and Bank of Nova Scotia, each with an elevated yield of 6 per cent to 7 per cent. High yields are driven by falling share prices. Bonds are another buy-low option for money in cash equivalent ETFs right now. Mr. Husain says dividend stocks and ETFs offer more upside than bonds right now.