Even while you’re earning a paycheck, there’s something special about your portfolio paying you, too. That’s the magic of dividend stocks, and if you pick the right ones, they could keep the cash flowing well into retirement and beyond. On the TSX, many Canadian companies have proven they can deliver not just for a few years but potentially for life. But the key is picking businesses that are built to last.
Let’s take a look at two TSX dividend stocks that I believe could pay you forever — no matter what the markets are doing in the short term.
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Brookfield Renewable stock
First up is Brookfield Renewable Partners (TSX:BEP.UN), a company that’s built to last in the world of renewable energy. The company operates one of the largest publicly traded platforms for clean power and decarbonization, with assets spanning hydro, wind, solar, and energy storage. It currently manages around 45,000 megawatts of installed capacity globally and continues to expand with a massive development pipeline.
Brookfield Renewable stock currently trades at $31.70 per share, with a market cap sitting near $9 billion. Despite being down more than 18% over the past year, it has quietly climbed over 10% in the last month. In addition, it offers a quarterly dividend with a solid annualized yield of 6.2%.
In the three months ended in March 2025, Brookfield delivered record cash flows with the help of its diversified, inflation-linked revenue base and new projects coming online. The business is also sitting on more than US$4.5 billion in liquidity, giving it plenty of firepower to pursue growth even in uncertain markets.
In short, this is a stock built on essential infrastructure and long-term contracts. It keeps paying, keeps growing, and doesn’t rely on short-term market ups or downs. For Foolish Investors with a long-term approach, Brookfield Renewable could be a great forever kind of holding.
Great-West Lifeco stock
Next, let’s talk about another TSX dividend stock that could keep your portfolio humming for decades: Great-West Lifeco (TSX:GWO). This is one of Canada’s most established names in life and health insurance. It also has a growing presence in retirement planning and investment services, with brands like Canada Life and Empower serving over 40 million customer relationships across Canada, the U.S., and Europe.
After surging by more than 20% over the last year, GWO stock now trades at $51.53 per share and carries a market cap of $48 billion. It pays a quarterly dividend with an annualized yield of 4.7%, which makes it a solid income option for long-term investors.
The ongoing growth trends in Great-West’s financials look impressive, with the company reporting a nearly 2% year-over-year rise in its adjusted earnings for the first quarter to $1.03 billion, reflecting strong momentum in its retirement and wealth businesses.
It’s also sitting on $2.5 billion in cash and continues to repurchase shares. If you’re building a forever portfolio, you may want to give this kind of solid dividend stock a spot.
