Canadian dividend investors are searching for good TSX stocks to add to their self-directed Tax-Free Savings Account (TFSA) and Registered Retirement Savings Plan (RRSP) portfolios focused on income and long-term total returns.
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TC Energy
TC Energy (TSX: TRP) trades near $85 per share at the time of writing, compared to the 12-month high around $100. Investors can take advantage of the pullback to pick up a 4.1% dividend yield.
TC Energy has strong growth prospects in the coming years as rising North American and international demand for natural gas will drive higher volumes along its pipeline networks and lead to the construction of new infrastructure. TC Energy’s current capital program is running at about $6 billion per year. Additional major projects should be on the way.
TC Energy is evaluating the merits of doubling capacity on its recently completed Coastal GasLink pipeline, which moves natural gas from Canadian producers to the new LNG Canada export facility on the coast of British Columbia. TC Energy could also be part of a new project to transport natural gas to Churchill, Manitoba, where a potential new LNG export terminal could be built to ship liquefied natural gas to Europe via Hudson Bay.
In the domestic markets, demand for natural gas is rising as new gas-fired power generation facilities are built to provide electricity to AI data centres. TC Energy’s existing natural gas transmission infrastructure transports about 30% of the natural gas used in Canada, the United States, and Mexico.
Revenue and cash flow should rise as new projects are completed and go into service. This should support ongoing dividend increases. TC Energy raised the dividend in each of the past 26 years.
Canadian Natural Resources
Canadian Natural Resources (TSX: CNQ) has also increased its dividend for 26 consecutive years. This is an impressive track record for a business that relies on commodity prices to determine its profit margins.
CNRL is a major Canadian energy producer with extensive production and reserves. The company is best known for its large oil sands operations, but CNRL also operates conventional light and heavy oil, offshore oil, and natural gas assets.
Management does a good job of allocating growth capital to the most advantageous opportunities depending on the movements of energy prices. This, along with a strong balance sheet, has enabled the company to maintain steady dividend growth, even during challenging times in the market. In fact, CNRL uses market downturns to acquire strategic assets to boost long-term growth.
CNRL is benefitting from higher international energy prices due to new oil and natural gas export capacity that has come online in recent years. Additional new pipelines and export facilities could be on the way as Canada pivots to become an energy superpower. This would enable CNRL to boost production across its asset portfolio.
CNQ stock is up 50% in 2026. Volatility should be expected as energy prices fluctuate, but any significant pullbacks should be viewed as opportunities to add to the position. The current dividend yield is 3.6%.
The bottom line
TC Energy and CNRL pay good dividends that should continue to grow. If you have some cash to put to work in a dividend portfolio, these stocks deserve to be on your radar.
