Dividend investing is one of the best ways to get reliable returns on your investment in the stock market. When you invest in shares of high-quality blue-chip stocks and hold them in a retirement account like the Tax-Free Savings Account (TFSA) or the Registered Retirement Savings Plan (RRSP), you can enjoy the returns without incurring taxes on the wealth growth through dividends and capital appreciation.
At the time of writing, the S&P/TSX Composite Index, which is the benchmark for the Canadian stock market, has slipped by 4.92% between March 2 and March 12, 2026. The downturn in the broader market indicates weakness across the board on the TSX. The decline in share prices has opened up opportunities for income-seeking investors to capture inflated dividend yields with some of the best dividend stocks on the market.
Today, I will discuss two TSX dividend stocks I would increase my positions in to leverage outsized long-term returns.
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BCE
BCE (TSX: BCE) is one of the Big Three Telcos in Canada, boasting a $32.67 billion market capitalization. BCE is Canada’s largest communications company and has held this spot for a long time. Telco stocks offer a defensive appeal to income-seeking investors. In May 2025, BCE enacted a dividend cut in May 2025 to bring its payout ratio down from over 100% to around 34%, making sure its payouts remain sustainable.
The stock has not had the best time trading on the TSX in recent years. From highs of around $70 per share in 2022, the stock fell to as low as $30 per share in the second quarter (Q2) of 2025. Since then, the situation has improved a bit. As of this writing, BCE stock trades for $35.03 per share. It pays investors $0.4375 per share each quarter, translating to an annualized 5% dividend yield that you can lock into your portfolio today.
Enbridge
Enbridge (TSX: ENB) is a $159.57 billion market-cap giant in the Canadian energy infrastructure space, operating one of the largest and most complex pipeline networks in North America. Enbridge transports around 20% of the fossil fuel products produced and consumed in the region, making it a vital business for the North American economy.
Enbridge stock has had a better time trading on the stock market since the interest rate cuts began in 2023. It has significant capital projects underway to drive even greater value to shareholders. As of this writing, Enbridge stock trades for $73.12 per share and pays its investors $0.97 per quarter, translating to a 5.31% annualized dividend yield that is too attractive to ignore. Consider investing in its shares today to lock in the high-yielding dividends.
Foolish takeaway
Considering that there seems to be no improvement in the geopolitical landscape on the horizon, we can expect market volatility to keep troubling investors for a while. However, those with a long investment horizon know better than to let the noise dictate their investment decisions.
If you want to invest with a long-term view in mind, investing in reliable dividend stocks can be an excellent way to take advantage of the current market situation. To this end, BCE stock and ENB stock can be some of the top holdings you can consider adding to your self-directed investment portfolio.
