Buy the Dip: 3 Stocks to Buy Today and Hold for the Next 5 Years

These stocks are under pressure, but should be solid dividend picks over the medium term.

Canadian dividend investors are finally getting a chance to pick up some top TSX stocks at a discount for their self-directed Tax-Free Savings Account (TFSA) and Registered Retirement Savings Plan (RRSP) portfolios.

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TC Energy

TC Energy (TSX: TRP) trades near $87 per share at the time of writing, compared to the 2026 high of around $100. The dip has pushed the dividend yield back above 4%, with ongoing dividend increases likely on the way.

TC Energy is taking advantage of the boom in natural gas demand to expand its energy infrastructure network that already includes more than 90,000 km of natural gas pipelines and 650 billion cubic feet of natural gas storage capacity spread out across Canada, the United States, and Mexico.

North America is seeing a surge in the construction of gas-fired natural gas power generation facilities as a response to rising electricity demand from tech firms. Hundreds of data centres are being built by tech companies, and many require standalone power supplies due to their immense size and electricity consumption. TC Energy’s extensive natural gas transmission network is in close proximity to many key data centre areas.

On the international side, TC Energy’s Coastal GasLink pipeline is now in commercial operation, carrying natural gas from Canadian producers to the new LNG Canada liquefied natural gas export facility on the coast of British Columbia. The company is planning to double the capacity of Coastal GasLink due to strong global demand for Canadian natural gas as countries seek out reliable supplies amid disruptions due to the wars in Ukraine and the Middle East.

TC Energy continues to expand its assets with current capital investments running about $6 billion per year over the medium term. Canada’s plan to ship natural gas from Hudson Bay could also result in a new pipeline project for the firm.

TC Energy raised the dividend in each of the past 26 years.

Fortis

Fortis (TSX: FTS) trades below $76 right now compared to more than $83 in July. The stock is still up 6% on the year, but is getting close to the lower end of its range over the past six months.

Fortis has a $28.8 billion capital program on the go that will expand its asset base in Canada and the United States. The company operates natural gas distribution utilities, power generation facilities, and electricity transmission networks. Rising power demand and Canada’s goal of building a national electricity grid should open new growth opportunities for Fortis.

The current expansion will boost the rate base by an average of 7% per year over five years. As new assets go into service, the increase in cash flow should enable Fortis to meet its goal of raising the dividend by 4% to 6% annually through 2030. Fortis has increased the dividend for 52 consecutive years.

BCE

BCE (TSX: BCE) is a contrarian pick right now. The stock took a beating over the past four years, falling from $74 to below $30 as high debt expenses, intense competition, and low immigration combined to put pressure on profits and forced BCE to cut its dividend last year by more than half.

The stock currently trades near $32.50 and has largely been in the $30 to $36 range over the past year. Management is making progress on a turnaround plan that includes expanding the American fibre internet business it purchased in 2025 while building out sovereign data services in Canada. It will take time for the recovery to pick up momentum, but the reduced dividend should be safe and now offers a 5.4% yield.

The bottom line

TC Energy, Fortis, and BCE are starting to look attractive at current prices. If you have some cash to put to work in a dividend portfolio, these stocks deserve to be on your radar.

The Motley Fool recommends Fortis. The Motley Fool has a disclosure policy. Fool contributor Andrew Walker has no position in any stock mentioned.

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