The Only 2 Canadian Dividend Stocks You Need to Retire Rich

Want reliable retirement income that still grows? Consider combining growth plays like goeasy (GSY) with steady banks like CIBC (CM).

Amy Legate-Wolfe

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. Before joining Motley Fool Canada, she 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. 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 October 21, 2025 4:30 pm EDT

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Key Points

Goeasy (GSY) offers growth from non‑prime lending and about a 3.7% yield, but carries higher credit and regulatory risk.
CIBC (CM) is a diversified bank with roughly a 3.4% yield, low payout ratio, and steady dividend growth for stability.
Reinvest dividends, balance growth with income, and buy quality at fair prices to build long-term retirement wealth.

If your goal is to retire rich with dividend stocks, the secret isn’t chasing the highest yields, it’s finding the right combination of income, growth, and staying power. Building wealth through dividends is less about quick wins and more about owning companies that quietly pay you more every year for decades. That’s why today we’re going to focus on two solid winners, goeasy (TSX:GSY) and Canadian Imperial Bank of Commerce (TSX:CM).

GSY

goeasy stock is a Canadian financial services business focused on non-prime lending and leasing. It operates under two main businesses. The leasing business under “easyhome” provides furniture, appliances, electronics, etc., on lease-to-own terms. Plus, a consumer-lending business under “easyfinancial” and “LendCare” offers unsecured or secured installment loans to non-prime borrowers, and financing of retail purchases.

Because of this business mix, goeasy is somewhat more cyclical and risk-exposed than classic “lock-in stable dividends” stocks like utilities or pipelines. The consumer-finance business brings higher risk from credit risk and regulatory risk, but also higher growth potential. Because goeasy lends to non-prime and underserved markets, it may have faster growth than many “boring” dividend stocks. Growth can help build the dividend over time.

At writing, the dividend stock pays a quarterly dividend of $1.46 per share. This provides a yield around 3.7% at writing. Plus, it has a long track record of raising those dividends. What’s more, it looks quite valuable trading at just 7.3 times forward earnings. Altogether, GSY adds a growth angle to your income strategy, but it may not be the safest or highest-yielding foundation on its own.

CM

Then we have CM stock, a strong option for those creating a portfolio of dividend stocks. CIBC is one of Canada’s major banks. The bank provides retail banking, commercial banking, wealth management and capital markets services in Canada and internationally. Its business is diversified across personal and business banking, investment banking, and international exposure.

Because banks are embedded in our economy, earnings reflect a mix of interest income, fee income, and credit performance. This is a combination that can deliver both growth and resilience, although with more risk than purely defensive sectors.

As for that dividend, it currently pays out at $0.97 per quarter, yielding around 3.4% at writing. Historically, the dividend has grown by about 5.5% annually over the last few years. And that dividend is well supported by a 46% payout ratio. Add in that it trades at just 12.6 times future earnings, and it’s a solid dividend stock with a great price.

Bottom line

Dividend investing for retirement isn’t about what’s flashy right now. It’s about owning companies that can survive and thrive through decades of change. These are businesses with growing profits, growing payouts, and dependable balance sheets. If you stay consistent, reinvest your income, and add to your positions when the market stumbles, you’re setting yourself up not only to retire comfortably but also to retire rich, with income that grows long after you’ve stopped working. With GSY and CM, these two dividend stocks could provide a solid growth stream through dividends and returns.