TFSA Investors – 2 Dividend Stocks I’ll Buy Until I Die

These dividend stocks aren’t just great for today, they’re excellent for long-term holders. Either way, you can gain major income at these prices.

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These days of volatile stock markets have been hard when it comes to finding the right stocks to invest in. This includes dividend stocks as well. Just because a stock provides you with passive income, doesn’t mean it’s perfect. But when it comes to these two dividend stocks, to me, they are perfection.

In the case of the two dividend stocks I’m about to discuss, they’re my go-to choices. The ones where if I get a windfall, or even just have some dividend income to reinvest, these are my first choices. The main reason? Both are in stable sectors that are only due to grow. So let’s get to them, and look at how much an investment today could create in passive income each year.

Brookfield Renewable

Renewable energy, and ideally clean energy, is the future of power. While oil and gas prices rose during the last few months, you’ve likely already seen them fall back down to earth lately. That just goes to show that the trend of less predictable oil and gas demand in this typically stable sector isn’t a trend at all. It’s here to stay.

Instead, it’s a great time to get into clean energy companies like Brookfield Renewable Partners LP (TSX:BEP.UN). Brookfield is backed by Brookfield Asset Management, which has been around since the 1890s, investing in clean energy production even back then. So when I say it has a history in clean energy, I mean it.

But what about the future? Renewable energy is the future. And Brookfield has exposure to every type of clean energy asset there is, including nuclear power through partnerships with uranium producers. Yet, the stock remains so cheap given its future performance.

Brookfield stock trades at 1.5 times book value. It offers a 5.01% dividend yield investors can lock in right now with shares down 18.3% in the last year, as of writing. Therefore, it will continue to be one of the dividend stocks I’ll buy until I die.

NorthWest REIT

So that’s the future, but what about stability right now? This is why another top choice of mine again and again is NorthWest Healthcare Properties REIT (TSX:NWH.UN). NorthWest stock is in the stable healthcare sector, and within that the even more stable healthcare property sector. Because it would be pretty hard to up and destroy a hospital, don’t you think?

But NorthWest is into even more than just hospitals, and in more than one location. The company purchased a healthcare real estate investment trust (REIT) in Australia, more properties in the United States, and continues to seek out acquisition opportunities.

Now, this investment activity supporting future growth is why the company has yet to increase its dividend yield. Even so, it provides a substantial yield at 8.42% as of writing. And that’s while it continues to trade at just 8.3 times earnings and 0.92 times book value. That’s well within value territory for such a high yield.

Bottom line

If you were to invest $15,000 into both of these stocks today, below is what you could get from passive income alone.

COMPANYRECENT PRICENUMBER OF SHARESDIVIDENDTOTAL PAYOUTFREQUENCY
BEP.UN$35.97417$1.72$717.24annually
NWH.UN$9.671552$0.80$1,241.60annually

So now you can see exactly why I’ll be picking up these dividend stocks and buying them on repeat until the day I pass out.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Amy Legate-Wolfe has positions in Brookfield Renewable Partners and NorthWest Healthcare Properties Real Estate Investment Trust. The Motley Fool recommends Brookfield Asset Management, Brookfield Renewable Partners, and NorthWest Healthcare Properties Real Estate Investment Trust. The Motley Fool has a disclosure policy.

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