Building long-term wealth in a Tax-Free Savings Account (TFSA) often comes down to owning the right businesses and simply holding onto them. The best TFSA stocks have the ability to grow and adapt over many years. When you find companies with solid fundamentals, consistent earnings, and reliable dividends, they could become core holdings you never feel the need to sell.
In this article, I’ll highlight two such Canadian stocks that could fit perfectly into a long-term TFSA portfolio.
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Nutrien stock
The first TFSA-friendly stock is Nutrien (TSX:NTR), a global provider of crop inputs and services. The company supplies essential fertilizers and agricultural solutions through a wide distribution network, helping farmers improve productivity worldwide. It mainly operates through four main segments: retail, potash, nitrogen, and phosphate.
Following a 45% increase in the last year, Nutrien’s stock trades at $102.59 per share with a market cap of $49.4 billion. It also offers a quarterly dividend with a yield of 2.9%, making it even more attractive for income-focused TFSA investors.
Over the last year, Nutrien’s performance has been driven by higher fertilizer prices, strong upstream sales volumes, and improved Retail earnings. In its full-year 2025 results, the company reported net earnings of US$2.3 billion and adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of US$6.05 billion. In the fourth quarter, its strong free cash flow generation and around US$900 million from asset divestitures helped it reduce debt and increase shareholder returns by 30%.
Nutrien continues to focus on improving margins and simplifying its portfolio by exploring strategic options, which could accelerate its financial growth further in the long run.
Northland Power stock
Northland Power (TSX:NPI) could be another great dividend-paying stock for TFSA investors to hold forever. It’s a global power producer that operates a diversified portfolio of energy assets, including offshore wind, solar, battery storage, natural gas, and regulated utilities. It currently has around 3.5 gigawatts (GW) of operating capacity with another 2.2 GW under construction.
After gaining 27% in the last year, NPI stock currently trades close to $24 per share with a market cap of $6.2 billion. More importantly, the company pays a monthly dividend with a yield of 3%.
In the fourth quarter of 2025, Northland posted revenue of $723 million as its net profit also rose to $290 million. During the quarter, the company’s free cash flow per share increased to $0.46 from $0.31 a year ago.
Factors such as strong wind production from its offshore assets in Germany and the expansion of battery storage projects continue to help Northland post strong results. It recently also introduced a strategy to double its operating capacity to seven GW by 2030.
Moreover, Northland Power is advancing several major projects, including the 1.1-GW Baltic Power project expected in the second half of 2026 and the one-GW Hai Long project targeted for 2027. Similarly, it’s also expanding its battery storage pipeline with new projects in Poland, strengthening its long-term growth outlook.
