2 Dividend Stocks I’d Buy and Never Sell in an RRSP

For investors focused on retirement wealth creation, these two Canadian dividend stocks could remain attractive long-term holdings for years to come.

Key Points
  • IGM Financial (TSX:IGM) continues benefiting from strong wealth management inflows and rising client assets.
  • Canadian Natural Resources (TSX:CNQ) has increased its dividend for 26 consecutive years while generating strong cash flow.
  • Both TSX dividend stocks offer a combination of passive income and long-term growth potential for RRSP investors.

Building long-term wealth inside a Registered Retirement Savings Plan (RRSP) can become easier if you own high-quality Canadian stocks that can continue growing for decades while rewarding investors with dependable dividends. Since investments inside an RRSP can compound tax-deferred over time, holding strong dividend stocks for the long run could help steadily grow your retirement portfolio.

The best RRSP stocks are usually companies with durable business models, reliable cash flow, and clear long-term growth opportunities. In this article, let’s look at two top Canadian dividend stocks that I find perfect for buying and holding for the long term in an RRSP.

RRSP (Registered Retirement Savings Plan) on wooden blocks and Canadian one hundred dollar bills.

Source: Getty Images

IGM Financial stock

The first stock that stands out for an RRSP right now is IGM Financial (TSX: IGM), especially for investors looking to tap into the stable growth of Canada’s wealth management industry while earning a reliable income along the way. Headquartered in Winnipeg, it’s one of the country’s leading wealth and asset management companies, offering financial planning, investment management, and advisory services through businesses like IG Wealth Management and Mackenzie Investments.

After delivering an impressive 75% return over the last year, IGM stock currently trades at $76.99 per share with a market cap of roughly $18 billion.

One major growth driver for IGM has been its ability to attract new client assets. In the first quarter, the company posted assets under management and advice of $314 billion, reflecting a 14.2% year-over-year (YoY) increase. Strong net inflows of $5.6 billion during the quarter further highlighted healthy demand for its services.

As a result, its adjusted earnings per share also rose 21% YoY, backed by stronger client activity and higher overall assets.

For RRSP investors seeking passive income, IGM currently offers a dividend yield of 3.2%. More importantly, the company’s stable cash flow and established position in Canada’s wealth management industry could help support future dividend growth.

Canadian Natural Resources stock

Canadian Natural Resources (TSX: CNQ) is another Canadian dividend stock that long-term RRSP investors may want to consider holding for years. The company is one of the country’s largest oil and natural gas producers, with operations spanning Western Canada, the North Sea, and Offshore Africa.

Following a 46% run over the last 12 months, CNQ stock now trades at $64.27 per share, giving the company a market cap of $134 billion.

In the March 2026 quarter, Canadian Natural Resources generated adjusted net earnings of $2.4 billion, or $1.17 per share. The company’s total production averaged roughly 1.64 million barrels of oil equivalent per day (boe/d), registering a 4% YoY gain.

CNQ currently offers a dividend yield of 3.9%. More importantly, the company has increased its dividend for 26 consecutive years, highlighting management’s long-term commitment to shareholder returns.

Beyond dividends, Canadian Natural Resources continues investing in future growth projects. Its short-term plans include capital-efficient drilling opportunities, while medium- and long-term expansion projects could further strengthen production capacity and cash flow generation.

Why these RRSP stocks stand out

Both IGM Financial and Canadian Natural Resources combine several qualities long-term RRSP investors often look for, including strong financial performance, dependable dividends, durable business models, and long-term growth potential.

While IGM stock offers exposure to Canada’s growing wealth management industry, CNQ stock provides stable cash flow generation from a diversified energy portfolio. Together, these companies could help RRSP investors build both passive income and long-term capital appreciation over time.

Fool contributor Jitendra Parashar has positions in Canadian Natural Resources. The Motley Fool recommends Canadian Natural Resources. The Motley Fool has a disclosure policy.

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