Are you looking for some quality stocks that could not only grow your wealth over time but also help you leave the workforce years ahead of schedule? If so, you’re not alone. These days, early retirement is becoming a goal that many Canadians are seriously planning for.
But to make it happen, your portfolio needs more than just luck. It needs dependable, long-term wealth compounders. Fortunately, the TSX has several high-quality stocks that offer steady earnings, reliable dividends, and the kind of long-term durability that can support early retirement planning, even through market volatility.
In this article, I’ll walk you through two top TSX dividend stocks that I believe could help fund your early retirement.
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Canadian Natural stock
When it comes to planning for long-term retirement goals, one TSX stock that’s hard to ignore is Canadian Natural Resources (TSX: CNQ). This Calgary-based energy giant produces crude oil and natural gas, with operations spread across Western Canada, the U.K.’s North Sea, and Offshore Africa.
After surging by 238% over the last five years, CNQ stock is currently trading at $42.73 per share, giving the company a hefty market cap of $89.5 billion. What makes it even more attractive is its annualized dividend yield of 5.5%, paid out quarterly.
In the first quarter of 2025, Canadian Natural delivered impressive results across the board. Its net profit of $2.5 billion more than doubled on a YoY (year-over-year) basis. This jump was mainly driven by record production volumes and lower costs across its oil sands operations.
The company also generated $4.5 billion in adjusted funds flow during the quarter and returned $1.7 billion to shareholders through dividends and buybacks. On top of that, it reduced net debt by $1.4 billion, clearly reflecting how well its business model is performing even in a mixed commodity environment.
Another top factor that makes CNQ stock a solid retirement pick is its focus on long-life, low-decline assets, especially in its oil sands and thermal operations. These assets help the company maintain consistent production and cash flow, which supports its growing dividends.
Manulife Financial stock
Manulife Financial (TSX: MFC) is another reliable, large-cap stock worth a serious look for early retirement planning. If you don’t know it already, this Toronto-based life and health insurance giant has a wide global footprint, offering everything from retirement and wealth management services to a variety of insurance products globally.
MFC stock is currently trading at $44.27 per share with a market cap of $75.8 billion and an annualized dividend yield of about 4%.
In the latest quarter ended in March, Manulife’s core earnings rose slightly on a YoY basis to $1.8 billion with the help of solid growth in its Asia and Global Wealth & Asset Management segments. Although provisions tied to expected credit losses and costs linked to the California wildfires affected its profits, the company’s book value per share still rose 12% from a year ago.
From launching artificial intelligence tools that help its advisors better serve clients to expanding digital insurance offerings in Asia, Manulife is trying to attract more customers. That long-term focus, combined with its dependable dividends, makes it a smart choice for anyone working toward financial freedom for early retirement.
