One of the many joys in investing is finding those stellar long-term picks that can provide growth and income-seeking opportunities which last decades. Fortunately, there are plenty of options to invest in the TSX today.
Among those great options are a handful of stellar picks I would drop in an $11,000 portfolio on the TSX today. Here’s what I would buy right now!
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Let’s start with a few must-have investments
Some of the best long-term investments are those that can balance growth and income. Even better are those that offer some defensive appeal.
That’s why to start, I would choose both Telus (TSX: T) and Bank of Nova Scotia (TSX: BNS) as anchors to my portfolio. Specifically, I would put $3,000 into each of those stocks on the TSX today.
Telus is one of Canada’s big telecoms, and Scotiabank is one of Canada’s big bank stocks. Neither is the largest in their segment, but they both boast impressive growth potential and handsome dividends.
In the case of Telus, that dividend pays out an impressive 7.6%, making it one of the highest-paying dividends on the market. Turning to Scotiabank, that figure is an equally attractive 5.9%. Both offer impressive track records in providing annual upticks to those dividends.
That fact alone makes them superb long-term picks on the TSX today for growth and income investors alike.
Let’s add in some growth
Turning to growth (but not entirely dismissing income), I would choose Enbridge (TSX: ENB), allocating another $3,000 of that initial $11,000 pot.
Enbridge is one of the largest energy infrastructure companies on the planet, boasting an impressive pipeline network. The company also operates a renewable energy business as well as a natural gas utility.
Collectively, those segments provide a reliable revenue stream that continues to see strong growth. In fact, Enbridge has a massive backlog of projects that exceeds a whopping $25 billion.
The recurring and reliable revenue stream from those investments helps to fund those growth initiatives while also paying for a juicy quarterly dividend.
As of the time of writing, the yield on that dividend works out to a tasty 6% yield. And like Scotiabank and Telus, Enbridge has an impressive record of providing investors with annual upticks to that dividend.
In fact, Enbridge has provided those increases for an impressive three decades without fail, which makes this a great long-term pick on the TSX today.
And finish with a buy-and-forget favourite
Speaking of long-term picks, one final option to consider with the last $2,000 of that initial $11,000 goes to Canadian Utilities (TSX: CU). Utility stocks like Canadian Utilities are great options for buy-and-forget investors.
That’s because utility stocks generate a stable revenue stream backed by long-term regulated contracts that last decades. The revenue produced from that stable business allows the utility to invest in growth and pay out a handsome dividend.
In the case of Canadian Utilities, that dividend offers a tasty 4.9% yield. Perhaps best of all is the dividend increase streak of the utility, which surpasses even Enbridge’s impressive three-decade run.
As of the time of writing, Canadian Utilities has provided investors with annual bumps to that dividend for a whopping 53 consecutive years without fail. This makes it the longest streak of any company in Canada, and one of just two Dividend Kings on the market.
If for no other reason, that makes Canadian Utilities what every portfolio needs on the TSX today.
How do these stocks stack up on the TSX today?
No stock is without some risk, and that includes the four mentioned above. Each offers a juicy yield and strong growth potential, making them great additions to any portfolio.
| Company | Recent Price | No. of Shares | Dividend | Total Payout | Frequency |
| Telus | $22.17 | 135 | $1.67 | $225.45 | Quarterly |
| Bank of Nova Scotia | $71.88 | 41 | $4.24 | $173.84 | Quarterly |
| Enbridge | $63.50 | 47 | $3.77 | $177.19 | Quarterly |
| Canadian Utilities | $37.39 | 53 | $1.83 | $96.99 | Quarterly |
And thanks to that initial $11,000 injection, investors can expect to generate an annual income that should be self-supporting and generate several shares each year through reinvestments.
In my opinion, this makes the above stocks must-have options in any well-diversified portfolio.
Buy them, hold them, and watch your future income grow.
