Top Canadian Value Stocks I'd Buy for My RRSP and Hold Through Retirement

Top Canadian Value Stocks I’d Buy for My RRSP and Hold Through Retirement

If you’re looking for strength in your RRSP, then look for value in long-term holds.

Amy Legate-Wolfe

Author Bio Amy became interested in investing in 2018 after having her first daughter. After receiving a masters degree in journalism from Western University, she became frustrated that the finance industry remained a confusing place for Canadians like her: new parents, millennials, and other young people who needed to understand their finances. Now, Amy focuses on tech companies and renewable energy for growth opportunities, coupling that with long-term investing strategies and equities. She also provides investors with a daily newsletter, Canada Stock Digest, for daily market updates. Her work can also be found at Canada's National Observer, where she writes on the business side of climate action. Before joining Motley Fool Canada, Amy wrote for major news organizations including HuffPost, CTVNews.ca, and CBC. When she’s not researching investing strategies, Amy’s time is pretty much monopolized by her two wild daughters, but in what little spare time she has she loves to do yoga, go on walks with her dog, and travel with her husband. Social Media Follow Amy on LinkedIn and Canada Stock Digest. Favorite Investment Quote “October: This is one of the particularly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February.” – Mark Twain

Published April 28, 2025 9:00 pm EDT

When planning for retirement using a Registered Retirement Savings Plan (RRSP), it often makes sense to focus on solid, dependable companies. Ones that can provide reliable growth and income over the long haul. Think of it like building a sturdy foundation for your future. For Canadian investors with a long-term perspective, a mix of companies from the financial, transportation, and real estate sectors can offer that kind of stability. If I were picking three top Canadian value stocks to buy and hold through retirement in an RRSP, I have three in mind. Those choices would be Royal Bank of Canada (TSX: RY), Canadian National Railway (TSX: CNR), and Granite Real Estate Investment Trust (TSX: GRT.UN).

Blocks conceptualizing the Registered Retirement Savings Plan — Source: Getty Images

RY

First up is RBC. This is the biggest bank in Canada, with a long history of consistently paying dividends. It’s involved in a lot of different financial areas, including regular banking, managing wealth, capital markets, and insurance. Looking at the most recent earnings report for the first three months of 2025, RBC announced a net income of $5.1 billion. This is a healthy 43% increase compared to the same period last year. The adjusted earnings per share also came in strong at $3.54. RBC has a track record of sharing its profits with shareholders and recently increased its quarterly dividend to $1.42 per share. At the current stock price, that gives a pretty solid yield.

RBC’s strength comes from having different ways to make money and a history of performing consistently. Even when the economy gets a bit shaky, it’s generally maintained strong financial health and seen steady growth in its lending. The business outside of Canada, especially in the United States, is also growing and helping their overall strategy. For RRSP investors who are looking for a safe bet that also provides income, RBC has been a dependable choice for many years.

CNR

Next on my list is CNR. As one of only two major railway companies in Canada, CNR plays a vital role in moving goods across North America. The railway connects ports on the West and East coasts of Canada to important industrial hubs in the U.S. Midwest. This makes them essential for trade and the movement of supplies.

In the most recent quarterly earnings report for the first quarter of 2025, CNR reported revenue of $4.31 billion and adjusted earnings per share of $1.79. It also reported an increase in the amount of freight moved, showing resilience even when the economy isn’t always booming. It’s been keeping a good eye on costs and also increased its dividend to $0.865 per share. At the current stock price, that translates to a yield of around 2%.

CNR has a long history of increasing its dividend each year and has a really strong financial foundation in the transportation sector. For investors who are thinking decades down the road, a value stock that owns important physical assets grows its dividends, and tends to be a bit more stable regardless of the economic climate is a great fit for an RRSP.

Granite

Finally, we have Granite REIT. The value stock brings a real estate angle to this mix but with a specific focus. Granite owns industrial properties like warehouses and distribution centres. It has a portfolio of high-quality properties in Canada, the United States, and Europe. Furthermore, it benefits from long-term leases and the increasing need for logistics spaces as online shopping and supply chains evolve. It might not be the most exciting type of real estate, but it’s certainly reliable.

In results for the first quarter of 2025, Granite reported funds from operations of $97.8 million, or $1.54 per unit. This is an increase from the same quarter last year. The properties were almost fully occupied, and the average length of leases was quite long, indicating good stability. Granite also increased its monthly distribution to $0.275 per unit, which works out to a decent annual yield.

What makes Granite particularly attractive for a retirement portfolio is its conservative approach to finances. It’s the kind of REIT that can be a solid anchor in a portfolio, especially in a retirement account where a steady income stream is a priority.