The Most Comfortable Dividend Stocks to Buy and Hold in a TFSA for Life

These three TSX income picks aim to make TFSA investing feel easy by paying steady cash from straightforward businesses.

Amy Legate-Wolfe

Author Bio 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. Social Media 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 June 17, 4:50 pm EDT

| More on: BPF.UNCHE.UNDHT.UN

Key Points

Boston Pizza Royalties collects royalties from restaurant sales and now pays a higher monthly distribution yielding about 6%.
DRI Healthcare earns drug royalties with defensive demand, but sales, patent, and debt risks can hit cash flow.
Chemtrade pays monthly with a healthier payout ratio, though results still depend on cyclical industrial demand.

Comfort can pay, and a Tax-Free Savings Account (TFSA) works best when investors remain comfortable every week not worrying about what they own. The account already gives Canadians a major advantage because dividends, gains, and withdrawals don’t trigger a tax bill. So the smartest move isn’t always chasing the hottest growth stock. Sometimes, it means buying income names with simple cash-flow stories, then letting the payouts pile up for years.

That’s where Boston Pizza Royalties Income Fund (TSX:BPF.UN), DRI Healthcare Trust (TSX:DHT.UN), and Chemtrade Logistics Income Fund (TSX:CHE.UN) stand out. Each offers a clear income angle, a business model investors can understand, and a reason to hold through market noise.

Close-up of people hands taking slices of pepperoni pizza from wooden board. — Source: Getty Images

BPF

Canadians keep spending on familiar, affordable restaurant meals even when the economy feels uneven. The fund doesn’t run the restaurants directly, but collects a royalty on sales from Boston Pizza locations in its royalty pool. That makes the business easier to follow than a full restaurant operator with staffing, food costs, and daily store-level headaches.

The latest dividend news adds to the appeal. Boston Pizza increased its monthly cash distribution to $0.12 per unit in April 2026 coming to $1.49 annually and yielding 6.1%. For TFSA investors, that monthly rhythm can feel especially useful.

The business also has a long track record as the fund has paid hundreds of monthly distributions since its 2002 IPO. Still, investors shouldn’t ignore risk. Restaurant traffic can weaken if households pull back. Food inflation can squeeze franchisees. A high payout ratio can also limit flexibility. But for investors who want simple monthly income tied to a known Canadian brand, Boston Pizza looks comfortable.

DHT

DRI owns pharmaceutical royalties, receiving cash tied to drug sales across a portfolio of healthcare products. This setup can appeal to TFSA investors as healthcare demand doesn’t move in lockstep with oil prices, housing, or consumer spending.

Management continues to grow the platform. In its first quarter of 2026, DRI delivered record first-quarter total income of US$50.6 million and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of US$52.8 million. The trust also raised its 2026 quarterly distribution, now at $0.58 annually yielding 3.1%.

Risks still matter. Drug royalties can disappoint if sales fall short, patents expire, competition arrives, or regulatory issues hit. DRI also uses financing to grow, so investors need to watch debt and capital costs. Still, this dividend stock gives TFSA investors a rare way to add healthcare income without buying a traditional drug company.

CHE

Finally, Chemtrade supplies industrial chemicals and services across North America. Its products serve water treatment, pulp and paper, oil and gas, mining, semiconductors, and other essential markets. That won’t sound exciting at a dinner party, but boring can work well in a TFSA.

Management has improved the income story. During the first quarter of 2026, it lifted the monthly distribution to $0.06 per unit, or $0.72 per year. Even better, its payout ratio sat at 51% for the quarter and 38% over the last 12 months. That leaves more room than many high-yield stocks offer.

The company also reiterated 2026 adjusted EBITDA guidance of $485 million to $525 million, giving investors some visibility, even in a cyclical industrial business. The risks come from the same place as the opportunity. Chemtrade depends on industrial demand, chemical pricing, energy costs, and safe operations. But with a stronger payout profile and essential products, Chemtrade looks like a practical long-term income pick.

Bottom line

For TFSA investors, comfort doesn’t mean ignoring risk. It means choosing stocks where the income story makes sense, the business has staying power, and the payout doesn’t look like a trap. And all three bring in strong income even with $7,000 invested.