If you could only buy and hold a single stock, what stock would you pick? Holding a single stock changes the selection process for investors. Instead of short-term noise and quarterly updates, the focus turns to reliable income and growth that can be relied on for decades.

That’s the kind of appeal that comes from Canada’s big bank stocks. And there’s one big bank I would buy and hold if I could only be invested in a single stock.

It’s a stock that rewards patience, offers stability through market cycles and continues to deliver a growing dividend income year after year.

Why this buy and hold stock stands out long term

That buy-and-hold stock is Bank of Nova Scotia (TSX:BNS). Scotiabank has operated for nearly two centuries, which matters when considering a stock to own for decades.

Canada’s big bank stocks are known for their conservative lending practices, consistent profits, strong capital buffers, and robust dividends. This helps make the big bank stocks reliable anchor holdings for any portfolio.

But what factors differentiate Scotiabank from its peers when considering it as the only stock to hold?

Scotiabank, like its peers, offers a diversified mix of retail banking, wealth management, and commercial lending. Where the bank differs from its peers is with respect to growth focus.

The banking market in Canada is saturated, if not dominated by the big banks. This means that the banks have increasingly turned to foreign markets to attain growth. For most banks, that expansion means the U.S. market.

That’s where Scotiabank differs. The bank has developed the name of “Canada’s most international bank.” And in recent years, Scotiabank has lived up to that name. The bank has operations in over a dozen countries around the world, and has, until recently placed a focus on high-growth markets in Latin America.

Over the past years Scotiabank has scaled back that focus and moved to investing in less volatile, more-developed markets in North America to fuel its growth. That includes both Mexico and the U.S., where the bank has a growing presence.

Overall, the bank offers a long history of navigating market volatility while building up an international portfolio of operations that pays a handsome dividend.

For investors looking at a buy-and-hold stock that can compound quietly for decades, Scotiabank’s stability and growth is a clear advantage.

A dividend track record that supports long‑term investors

‘One of the main reasons why investors flock to Scotiabank is for the quarterly dividend that the bank offers. That’s another area where Scotiabank’s stability excels.

In fact, the bank has paid dividends without fail since the 1800s. That’s a record that few companies across the world can match.

As of the time of writing, the yield on that quarterly dividend is 4.2%, which is the highest across its big bank peers. More importantly, it’s both well-covered and growing. Scotiabank has provided annual upticks to that dividend going back well over a decade.

For long‑term investors, that dividend is more than just cash flow. It’s a built‑in return that compounds over time, especially when reinvested. That’s an appealing part that most investors overlook.

Given the current yield, investors who drop $10,000 into Scotiabank will generate another share every quarter from reinvested dividends alone. That can compound without any significant additional investments over longer periods of time.

Scotiabank’s consistency over market cycles reinforces its position as a buy-and-hold stock. Even during periods of market volatility, Scotiabank has maintained its payout, making it a compelling choice for anyone prioritizing dependable long‑term income.

Why Bank of Nova Scotia fits a single‑stock strategy

No stock, even the most defensive, is without some risk. Fortunately, Scotiabank’s defensive appeal, reliable business, and growing dividend minimize that overall risk.

As a long-term income producer, Scotiabank checks all the boxes as a buy-and-hold stock for investors. It offers a unique mix of global diversification, dependable dividends, and stability that even some of its own big bank peers cannot match.

In my opinion, this is the big bank stock for investors to buy and hold for decades.

The post If I Could Only Buy and Hold a Single Stock, This Would Be It appeared first on The Motley Fool Canada.

More reading

• 2 Canadian Dividend Giants I’d Buy With Rates on Hold
• 2 No-Brainer Dividend Stocks to Buy Hand Over Fist
• How Canadians Should Be Using Their TFSA Contribution Limit in 2026
• 3 Stocks Worth Buying Today and Holding in Your Portfolio for the Very Long Term
• The 2 Stocks I’d Combine for a Strong TFSA Strategy in 2026

Fool contributor Demetris Afxentiou has positions in Bank of Nova Scotia. The Motley Fool recommends Bank of Nova Scotia. The Motley Fool has a disclosure policy.

When an otherwise impressive TSX dividend stock drops by double digits, long-term investors are faced with an opportunity to lock in a better position for long-term returns. While there’s always a reason why a stock drops, the long-term potential of that investment always needs to be weighed.

One segment where this view has become apparent this year is with Canada’s telecom stocks. More specifically, I’m referring to Rogers Communications (TSX:RCI.B), which is down 12% year to date.

As a telecom provider with essential subscription services, Rogers generates steady cash flow that supports long‑term dividend reliability even during market volatility.

Let’s try to answer the question of why Rogers is down and why your portfolio needs this TSX dividend stock.

Why is Rogers down this year?

To be fair, Rogers isn’t the only one of Canada’s big telecoms that is down this year. Rogers is, however, the one telecom stock that is down the most among its peers. That has caught the attention of long-term dividend investors.

The current pullback can be attributed to a variety of issues, rather than one single cause.

Telecoms like Rogers are capital-intensive businesses. They rely heavily on financing to fund network upgrades. When interest rates remain high, as they have in recent years, that results in extra pressure on a telecom’s finances. This drives the stock price down but also leads investors to rotate out of telecoms to higher-growth sectors.

For long-term investors considering this TSX dividend stock, this pullback should be viewed as an opportunity to buy a quality stock at a discounted rate. In fact, the Rogers business remains as resilient as ever.

Telecoms like Rogers generate a recurring revenue stream that is reliable and highly defensive. In recent years, some of Rogers’s subscriber-based segments have become more essential in nature. As a result, that’s broadened the defensive appeal of the stock as a whole.

Why this dip is an opportunity for investors

The dip in stock price has pushed Rogers’s quarterly dividend to an attractive 4.39% yield. That’s not the highest among the big telecoms, but it may be one of, if not the most sustainable among the lot right now.

This stability is especially important in a capital‑intensive sector like telecoms, where consistent cash generation is key to maintaining a sustainable dividend.

Where Rogers’s peers have endured dividend cuts and freezing annual increases over the past few years, Rogers has maintained its more conservative approach. In fact, unlike its peers, Rogers opted to suspend its annual increase years ago. Instead, Rogers opted to focus on investing in growth initiatives and paying down debt.

That’s not to say the current yield isn’t attractive. Investors who are able to invest $7,500 into Rogers will benefit from over a half-dozen shares generated each year from reinvestments alone.

Over a longer period, that’s a powerful compounding engine.

Beyond the dividend, Rogers benefits from a business model that’s built on a recurring revenue stream. Wireless plans, broadband subscriptions, and bundled subscription services create predictable income streams that help support both operations and shareholder returns. In addition, the company’s investments in 5G networks and infrastructure also position it for long‑term relevance as data usage continues to grow across the country.

This combination of a higher yield backed by defensive essential services makes Rogers a more appealing option for patient investors. For those building a portfolio designed to compound over decades, Rogers offers the kind of steady profile that fits well within a buy‑and‑hold strategy.

Will you buy this TSX dividend stock

Rogers sits at an interesting crossroads for investors. It trades at a 12% discount this year, offers a well-covered 4.39% dividend, and generates a recurring revenue stream from its essential subscription services.

For investors seeking a TSX dividend stock that can anchor a long‑term portfolio, Rogers checks many of the right boxes. More importantly, the current dip offers a chance to buy a stable company at attractive levels. With this, you also get a higher yield and long‑term growth potential.

For income‑focused investors, Rogers can serve as a defensive anchor that provides stability through different market cycles. In my opinion, Rogers is a great TSX dividend stock for buy‑and‑hold investors looking to add to any well-diversified portfolio.

The post 1 Magnificent TSX Dividend Stock Down 12% to Buy and Hold for Decades appeared first on The Motley Fool Canada.

More reading

• Telus vs. Rogers: 1 Canadian Telecom Stock I’d Buy Today
• 3 TSX Dividend Stocks With Payout Ratios That Actually Hold Up to Scrutiny
• 2 TSX Stocks That Can Turn a $56,000 TFSA Into a Lasting Income Machine
• 3 TSX Dividend Stocks Yielding Up to 6% — and Each Can Back It Up

Fool contributor Demetris Afxentiou has no position in any of the stocks mentioned. The Motley Fool recommends Rogers Communications. The Motley Fool has a disclosure policy.

The TFSA offers investors the opportunity to create tax-free income thanks to the unique design of the account. And picking the right TFSA dividend stock for that account can make all the difference in a long-term portfolio.

Fortunately, there are plenty of great TFSA dividend stock candidates on the market that can provide both growth and income-earning potential lasting decades. These investments are built on predictable cash flows that allow them to continue paying even when the market isn’t cooperating.

This makes choosing a dependable TFSA dividend stock even more important, as every reinvested dollar compounds tax‑free for decades.

One such stock to consider investing in is Emera (TSX:EMA), and here’s why it belongs in your portfolio.

Emera’s business model supports consistent cash flow

Emera operates as a regulated utility. This means that it generates the bulk of its revenue from rate-regulated assets. These assets generate predictable cash flow backed by rates set by regulators.

Not only does this make results predictable and allow the company to pay a handsome dividend and invest in growth, but it also helps to reduce volatility.

The predictable nature of Emera is a huge advantage that is often dismissed. Utilities like Emera can be expensive to operate. As a regulated utility stock, Emera provides essential services that remain in demand regardless of economic conditions. This adds another layer of stability for long‑term investors.

Utilities also tend to benefit from long‑term capital planning, where investments in infrastructure translate into stable, recurring returns over time. A steady revenue stream allows Emera to plan out long-term capital planning, ultimately leading to revenue growth.

In terms of footprint, Emera operates across several regions in Canada, the U.S., and the Caribbean. That geographic diversification means that results aren’t tied to a single market, which adds yet another layer of defensive appeal.

For TFSA investors, that stable business model is underrated. It provides visibility into future earnings and supports a dividend that can be counted on every year.

In a market where many sectors face cyclical swings, regulated utilities like Emera can offer a defensive anchor.

Emera’s 4% yield fits long‑term TFSA income goals

As of the time of writing, Emera offers a yield of 4.1%. That’s not the highest yield on the market, but it is growing and more importantly, stable. That stability is backed by Emera’s regulated business model, and the current yield leaves room for the company to invest in growth.

Emera also has a long history of maintaining and growing that quarterly dividend. For investors seeking a TFSA dividend stock, that distinction is huge. In fact, Emera has paid that dividend without fail for over three decades. The company has also provided near-annual increases to that payout going back over a decade.

That’s an important point for long-term investors. A dependable yield like this helps investors build a predictable income base inside their TFSA without relying on high‑risk, high‑volatility alternatives.

Recall that in a TFSA, every dollar of dividend income compounds tax‑free, and Emera’s stable yield helps build a reliable income stream over time.

By way of example, consider an investment of $7,500 into Emera (as part of a larger, well-diversified portfolio). That initial investment is enough, given the current yield and payout, to generate an additional share from reinvestments alone each quarter.

In other words, Emera is the TFSA dividend stock that can quietly compound in the background on its own for decades.

Why Emera stands out as a TFSA dividend stock

No stock is without risk, which is why the importance of diversifying cannot be stated enough. Fortunately, Emera offers a perfect mix of yield, defensive appeal, and growth.

For those investors building their portfolio and seeking a TFSA dividend stock, Emera checks the right boxes. It offers a balanced yield, a defensive business model, and a history of delivering consistent results.

For Canadians seeking a reliable TFSA dividend stock, Emera offers the consistency and long‑term visibility that make tax‑free income planning far more effective.

The post Here’s an Ideal 4% TFSA Dividend Stock That Pays Constant Cash appeared first on The Motley Fool Canada.

More reading

• 2 Canadian Stocks That Pay You While You Wait
• 4 Dividend Stocks I’d Happily Double My Position in Today
• The 2 Stocks I’d Combine for a Strong TFSA Strategy in 2026
• 3 Canadian Utility Stocks Worth Having on Your Radar for Steady Income
• What Investors Should Understand About Canadian Utility Stocks This Year

Fool contributor Demetris Afxentiou has no position in any of the stocks mentioned. The Motley Fool recommends Emera. The Motley Fool has a disclosure policy.

Canada’s big telecom stocks are often regarded as some of the best investments for long-term investors. There are more than a few reasons for that. First, there’s the appeal of owning a Canadian dividend stock that provides a reliable yield. Then there’s also the defensive appeal of telecom stocks themselves.

But which telecom is the ideal Canadian dividend stock to own right now?

Enter Telus (TSX:T).

Telus is one of the big telecoms and boasts a portfolio of subscriber-based services that generate a reliable and recurring source of revenue. That revenue stream has allowed Telus to pay out one of the best dividends on the market for well over two decades.

But despite the defensive appeal of providing essential services, the stock has struggled in recent years. In fact, the stock is down a whopping 17% over the past year. As the stock price has dipped, Telus’s yield has swelled.

Does this make Telus a good opportunity right now?

Why Telus is down 17%

The recent share price dip is tied to larger macroeconomic pressures rather than a company‑specific failure on the part of Telus. Telecoms like Telus are capital‑intensive, meaning that they are heavily reliant on borrowing to fund network expansion and infrastructure upgrades.

As interest rates rose sharply over the past several years, the cost of borrowing also increased. That put added cost pressure on Telus, leading to a dip in the stock price as investors rotated out of defensive sectors into growth holdings.

Telus has also been working through a period of elevated capital expenditures as it expands its fibre network and invests in digital services. While these do support long‑term growth, they temporarily weigh heavily on free cash flow.

Combined with slower subscriber growth and a more cautious consumer environment, these factors have contributed to the stock’s 17% decline. In fact, looking out over a longer five-year period shows Telus’s stock price decline at a staggering 34%.

Investors should note that, above all, none of these issues points to structural weakness in the business. If anything, Telus is mitigating its current risk through a variety of factors.

Why Telus remains a reliable Canadian dividend stock

Despite the headwinds, Telus continues to demonstrate the qualities of a Canadian dividend stock that income investors value. Telus continues to benefit from its reliable, recurring revenue stream from its subscriber business.

If anything, the appeal of that segment has grown in recent years as those subscriber services, particularly the internet and wireless segments, have become a necessity for most.

Further to this, the strong national footprint that Telus offers ensures recurring revenue and low customer churn from across the country.

Finally, there’s Telus’s move to diversify beyond its traditional telecom segments. Telus offers a variety of digital solutions in niche markets such as health and agriculture. This adds an additional complementary revenue stream that continues to see strong growth.

What about that 9.8% yield?

As Telus’s stock price dipped, the yield soared. As of the time of writing, Telus offers a massive 9.8% yield, making it one of the best-paying dividends on the market. That high yield raises questions about sustainability, and Telus has moved to shore up its dividend and make it more sustainable in the past year.

That includes freezing the company’s long-standing cadence of providing increases. Telus has, however, stopped short of slashing its dividend.

As Telus moves past this peak investment cycle, capital expenditures are expected to moderate. This coincides with expected drops in interest rates.

Over time, this shift could support stronger free cash flow in the years ahead. Concurrently, growth from Telus’s digital services teams will continue to grow, helping to balance the capital needs of the core telecom business.

In short, Telus offers one of the highest yields on the market, backed by multiple segments that are both stable and growing.

Why long‑term investors may want to buy Telus now

Long-term investors should look at the current 17% pullback as an opportunity for a compelling entry point. The long-term fundamentals of the company are sound, and both the digital and core subscription businesses continue to see strong growth.

As interest rates continue to decline, the stock price should recover, providing upside to more patient investors.

In my opinion, Telus is a Canadian dividend stock that should form a small part of any well-diversified portfolio.

The post A Canadian Dividend Stock Down 17% to Buy Forever appeared first on The Motley Fool Canada.

More reading

• 2 Value Stocks With Dividend Yields Over 6.5% to Buy Near 52-Week Lows
• Telus vs. Rogers: 1 Canadian Telecom Stock I’d Buy Today
• The Smartest Way to Invest $10,000 in Your TFSA Right Now
• One TSX Dividend Stock That Might Have More Upside in 2026 Than Most People Expect
• 2 Canadian Stocks That Pay You While You Wait

Fool contributor Demetris Afxentiou has no position in any of the stocks mentioned. The Motley Fool recommends TELUS. The Motley Fool has a disclosure policy.

Building a portfolio that can produce tax-free passive income is a dream of every investor. It’s also something that Canadian investors can achieve by using a Tax-Free Savings Account (TFSA) and investing in the right stocks.

That’s because the TFSA’s unique structure allows for every dollar contributed and dividend earned to be tax-free. Not only does this supercharge compounding, but it can also take the stress out of picking the right stocks to invest in over the long term.

There’s no shortage of great stocks on the market to start earning that tax-free passive income. Here’s a look at three options to consider buying that offer stability, diversification, and growing dividends.

Sun Life is a reliable dividend compounder

The first stock for investors seeking tax-free passive income is Sun Life (TSX:SLF). Sun Life is one of Canada’s most dependable financial companies with a portfolio covering insurance, wealth management, and asset management.

Sun Life’s portfolio includes operations not just in Canada, but also in the U.S. and in multiple Asian markets. That international exposure fuels long-term growth opportunities and provides a hedge against North American markets.

This gives Sun Life a unique and diversified earnings base that can withstand market volatility over longer periods. More importantly, that mix allows Sun Life to generate steady cash flow, which in turn supports its long history of paying and increasing dividends.

As of the time of writing, Sun Life offers a quarterly dividend with a yield of 3.99%.

For TFSA investors, Sun Life offers a blend of stability and compounding potential that makes it a strong anchor in any tax-free passive-income portfolio.

Telus offers long-term income

Investors seeking tax-free passive income from a TFSA should look closely at Canada’s big telecom stocks. Telus (TSX:T) in particular stands out as one of the most intriguing names for investors to consider.

Telus offers the typical bevy of subscription-based services to customers across Canada. Canadians rely on wireless, internet, TV and wireline segments daily, which translates into an impressive defensive moat.

For Telus, that defensive appeal means a recurring revenue stream that is both stable and predictable. More importantly, the essential service nature of those segments allows Telus to pay out one of the highest-paying yields on the market.

As of the time of writing, Telus’s yield works out to 10%.

Beyond the core telecom subscription segments, Telus has expanded into offering digital services to niche segments of the market in recent years. This includes areas such as healthcare and agriculture. These add an additional layer of diversification and open new avenues for growth.

For TFSA investors seeking tax-free passive income, Telus provides a dependable payout backed by a business model built on necessity and recurring demand.

Enbridge is the cornerstone income stock

One final pick for investors looking to establish a tax-free passive income stream is Enbridge (TSX:ENB). Enbridge is an energy infrastructure behemoth. The company operates one of the largest and most complex pipeline networks on the planet.

The pipeline business transports nearly one-third of all North American-produced crude and an equally impressive amount of natural gas. Both operate under long-term, regulated contracts, meaning that Enbridge generates predictable and stable cash flow year after year.

This consistency has allowed Enbridge to invest in growth and maintain one of the strongest dividend streaks in the country. As of the time of writing, Enbridge offers a yield of 5.16% and has provided investors with over 30 consecutive years of increases.

Beyond its core pipeline operation, Enbridge offers equally impressive segments that include both a natural gas utility and a growing renewable energy segment.

For TFSA investors, Enbridge remains a cornerstone holding for building reliable, tax-free passive income.

How to earn $2,400 a year in tax-free passive income

Enbridge, Telus and Sun Life are a diversified trio of stocks that can provide tax-free passive income. Earning $2,400 a year in passive income or more can easily be attained using the allocation below.

The post How Your TFSA Could Help You Earn $2,400 a Year in Tax-Free Passive Income appeared first on The Motley Fool Canada.

More reading

• The Ultimate Dividend Stock to Buy With $1,000 Right Now
• 5 Canadian Stocks I’d Feel Good About Holding for the Next 10 Years
• 2 Value Stocks With Dividend Yields Over 6.5% to Buy Near 52-Week Lows
• The Best TSX Stocks Right Now for Income and Growth Combined
• The Best Places to Put Your $7,000 TFSA Contribution in 2026

Fool contributor Demetris Afxentiou has positions in Enbridge. The Motley Fool recommends Enbridge and TELUS. The Motley Fool has a disclosure policy.

Most investors use their TFSAs for one clear objective: to establish a predictable, growing tax-free income stream. And while there’s more than a few stocks on the market that can cater to that goal, there is one that can offer consistent income, which makes it the perfect TFSA stock to own.

That stock is RioCan Real Estate (TSX:REI.UN), and here’s a look at why it belongs in your TFSA portfolio.

Why RioCan fits inside a TFSA

RioCan is one of the largest REITs in Canada, offering a portfolio of both commercial retail and mixed-use residential properties. As a TFSA stock focused on generating income, RioCan excels as a long-term pick.

For TFSA investors focused on long‑term passive income, RioCan offers one of the most dependable payout streams in Canada.

Part of the reason for that can be traced back to the properties that RioCan generates income from. The shift in recent years from less commercial retail and more towards residential has padded RioCan’s portfolio with more necessity-based tenants.

Not only does this bolster the defensive appeal of the REIT, but it also helps RioCan to continue generating a stable, recurring monthly income stream. Prospective investors should note that within a TFSA, both the contributions and dividends are completely tax-free.

For TFSA account holders who want to avoid volatility and prioritize predictable results, this combination of stability and tax‑free income is hard to beat.

A reliable 5.6% yield delivers steady income

RioCan offers investors a monthly distribution that, as of the time of writing, works out to an attractive 5.6% yield. This makes RioCan one of the better-paying options on the market, appealing for both those looking to draw on that income as well as those still building their nest egg.

By way of example, given the current yield and stock price, investors who purchase $7,500 worth of RioCan stock will generate more than one share a month through reinvestments alone.

As a core TFSA stock, it can quickly compound into a significant income stream over the longer term. In short, RioCan’s payout offers an attractive and steady paycheque that can support long‑term financial goals.

Inside a TFSA, RioCan’s monthly distributions can compound tax‑free, accelerating the growth of a long‑term income stream.

RioCan’s business supports long‑term income

RioCan’s portfolio is built around retail‑anchored and mixed‑use properties. Both have a strong emphasis on tenants that provide essential goods and services. This includes grocery stores, pharmacies, and other necessity‑based retailers that withstand economic slowdowns.

As a Canadian REIT with a defensive tenant base, RioCan provides the predictable cash flow that TFSA investors value most.

RioCan’s mixed-use properties have another advantage. Not only do the properties blend essential retail with residential units, but they are also located along transit corridors in major metro markets.

This bolsters both foot traffic and demand for those units, which, in turn, supports higher occupancy and rising rents. Adding to this, RioCan’s retail tenant mix includes some of the largest national retailers that come with longer-term leases.

This adds yet another attractive element for income-focused investors seeking that TFSA stock to own.

Why RioCan is the TFSA stock to buy now

For investors building a TFSA income strategy, RioCan offers a compelling combination of stability, yield, and long‑term reliability. And while every stock has some risk, RioCan’s large, defensive portfolio of quality tenants in prime markets minimizes that risk.

RioCan is a solid TFSA stock to add to any well-diversified portfolio. It can provide either a recurring income stream or the reinvested distributions to build one.

In short, RioCan stands out as a TFSA stock that can deliver consistent results for years to come.

The post A Perfect TFSA Stock: A 5% Yield with Constant Paycheques appeared first on The Motley Fool Canada.

More reading

• 1 Dividend Stock That Looks Like an Easy Decision to Buy on a Pullback
• Why This Steady 5.4% Yield Makes an Ideal TFSA Stock
• How to Turn Your TFSA Into a Reliable Monthly Income Machine
• How Splitting $30,000 Across Three TSX Stocks Could Generate $2,092 in Annual Dividends
• How to Build a $50,000 TFSA That Pays You Consistently

Fool contributor Demetris Afxentiou has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

The Tax‑Free Savings Account (TFSA) is one of the best tools for Canadian investors to use to build a dependable monthly income stream. Because growth and withdrawals are completely tax‑free, that means every dollar generated from your investments goes into your pocket.

When combining the TFSA with the right monthly‑paying REITs, the account can become a powerful, reliable income machine that delivers cash every single month.

Here’s a look at some of the best REITs to consider buying for a source of monthly income.

Option #1: RioCan Real Estate

RioCan Real Estate (TSX:REI.UN) is one of the largest REITs in Canada. The company has historically focused on commercial retail properties, but in recent years has shifted to include more mixed-use residential properties.

Those properties are located in high-traffic areas of Canada’s metro markets, catering to the strong demand for both retail and residential tenants.

More importantly, that strong demand and diversified tenant base makes RioCan one of the better-paying options on the market. In fact, RioCan’s uniquely diversified portfolio makes it an ideal alternative to owning real estate. As of the time of writing, the REIT offers a monthly distribution that carries a yield of 5.7%.

For TFSA holders, RioCan provides the perfect mix of retail and residential properties that add a layer of defensiveness. This helps to maintain predictable cash flow through different market cycles.

Option #2: Slate Grocery REIT

The second option to help generate monthly income is Slate Grocery REIT (TSX:SGR.UN). Slate is a grocery-anchored REIT. This provides an unusually defensive appeal to any portfolio, given the sheer necessity of food.

Slate also offers another unique distinction for investors to note, and that’s geography. Slate’s portfolio of over 100 grocery-anchored properties is U.S.-based.

In other words, Slate’s portfolio is comprised of stable, high-occupancy sites that provide essential products regardless of economic conditions.

That stable revenue base helps Slate to provide an appetizing monthly distribution. As of the time of writing, that yield works out to 7.4%, making it one of the better-paying options on the market.

For TFSA investors seeking monthly income, Slate offers a perfect balance between high-income potential and defensive appeal.

Option #3: SmartCentres REIT

The third option for monthly income seekers to consider is SmartCentres REIT (SRU.UN). SmartCentres is a retail-focused REIT that is focused on necessity-based retail.

A key factor in SmartCentres’ portfolio is that many of its properties are anchored by major national retailers. This translates into a stable revenue base that provides ample foot traffic to its properties. The recurring traffic to the larger anchor tenants also supports the smaller, secondary tenants on those properties.

In short, the unique tenant mix helps support stable occupancy and maintains SmartCentres’ predictable distributions. As of the time of writing, SmartCentres offers a yield of 6.6%.

For TFSA investors seeking steady monthly income, SmartCentres provides a unique middle ground. It can offer a higher yield than large blue‑chip REITs, but with a strong foundation of essential tenants. The REIT also has a long‑term development pipeline to add to future growth potential.

How to combine these REITs into a monthly income machine

The three REITs mentioned above can provide investors with a healthy source of monthly income. Here’s how an allocation of just $7,500 into each REIT can provide a monthly income stream.

Note that prospective investors who aren’t ready to draw on that income yet can choose to reinvest those distributions, allowing them to continue to grow until needed.

By combining these REITs inside a TFSA, investors can build a monthly income stream that grows tax‑free and supports long‑term financial goals.

The post How to Turn Your TFSA Into a Reliable Monthly Income Machine appeared first on The Motley Fool Canada.

More reading

• 1 Dividend Stock That Looks Like an Easy Decision to Buy on a Pullback
• A Simple Way for Canadians to Earn $500 a Month Tax-Free From a TFSA
• Why This Steady 5.4% Yield Makes an Ideal TFSA Stock
• A Perfect TFSA Stock: A 5% Yield with Constant Paycheques
• 2 Monthly Dividend Stocks That Could Pay You for Years

Fool contributor Demetris Afxentiou has no position in any of the stocks mentioned. The Motley Fool recommends Slate Grocery REIT. The Motley Fool has a disclosure policy.

Building a TFSA to a million dollars or more is a level of achievement that few investors reach. But TFSA millionaires share one theme when it comes to their success. Portfolio growth isn’t based on luck, timing, or chasing the hottest stock.

Instead, TFSA millionaires follow a simple set of repeatable behaviours that compound over time. They understand how the TFSA was designed and how to use it to grow wealth tax-free over longer periods of time.

Here’s a look at the four secrets of TFSA millionaires that are easy for any Canadian investor to follow.

Secret #1: They focus on long-term compounding

Compounding is the first secret of TFSA millionaires. They don’t jump in and out of the market or try to predict moves. Instead, they choose companies that steadily grow earnings and dividends over a longer period of time.

In short, they let compounding do what needs to be done.

A great example of this for Canadian investors to consider is Canadian National Railway (TSX:CNR). Canadian National operates one of the largest railway networks on the continent. The railway hauls necessities from factories and storehouses to markets and ports across North America.

Those products can be anything from chemicals and crude oil to wheat, automotive parts, and raw materials. In fact, Canadian National has one of the largest defensive moats on the market.

That defensive moat allows Canadian National to generate a stable and recurring revenue stream. This, in turn, allows the railway to pay out a quarterly dividend that the company has increased annually for over three decades.

TFSA millionaires gravitate toward businesses like Canadian National because they understand that compounding works best when left alone.

The longer the holding period, the more powerful the effect becomes.

Secret #2: They choose durable, dividend-paying companies

Another pattern among TFSA millionaires is their preference for dividend-paying companies. More specifically, dividend-paying companies that operate in essential areas of the market with defensive appeal.

These are businesses that generate reliable revenue streams, support steady dividend growth and can offset some market volatility.

Canada’s big bank stocks are great examples of this. Toronto-Dominion Bank (TSX:TD) in particular best portrays that. TD is Canada’s second-largest bank and has a long history of paying and growing its dividend. In fact, TD has been paying out its quarterly dividend for well over a century.

TD has also provided annual upticks to that dividend going back over a decade without fail. As of the time of writing, the dividend works out to a yield of 3%.

TFSA millionaires appreciate holdings like TD because they combine stability with long-term upside.

Secret #3: They stay consistent through every market cycle

Staying consistent with your investments is the third secret of TFSA millionaires. Contributing regularly and staying invested during downturns is key to long-term growth. That consistency helps during downturns and also helps to avoid emotional decision-making.

Enbridge (TSX:ENB) is a great example of that consistency. Enbridge is one of the largest energy infrastructure companies in North America. The company is best known for its pipeline segment that transports massive amounts of crude and natural gas each day.

The sheer necessity of the pipeline business makes Enbridge a defensive option for investors. But that’s not the only advantage that Enbridge offers. The company also operates a growing renewable energy segment and is one of the largest natural gas utilities in North America.

Turning to income, Enbridge offers one of the best dividends on the market. As of the time of writing, Enbridge pays out an impressive 5.4% yield. The company has also amassed over 30 consecutive years of annual increases, making this one of the most consistent picks on the market for would-be TFSA millionaires.

Secret #4: They keep their strategy simple and repeatable

The final secret is simplicity. TFSA millionaires don’t overcomplicate their portfolio with complex trading systems. Instead, they follow a clear, repeatable framework.

In short, buy quality stocks, contribute regularly, reinvest dividends, and hold for the long term.

Keeping things simple reduces mistakes and keeps emotions out of the mix. It also makes the strategy sustainable for decades.

Become a TFSA millionaire

TFSA millionaires focus on compounding, stay consistent in their investments, and keep things simple. None of these principles requires special knowledge or perfect timing, just discipline and patience.

For Canadians looking to build long-term wealth, these four secrets offer a clear and proven path forward.

The post 4 Secrets I’ve Learned From Studying TFSA Millionaires appeared first on The Motley Fool Canada.

More reading

• The Ultimate Dividend Stock to Buy With $1,000 Right Now
• 5 Canadian Stocks I’d Feel Good About Holding for the Next 10 Years
• The Best TSX Stocks Right Now for Income and Growth Combined
• The Best Places to Put Your $7,000 TFSA Contribution in 2026
• How I’d Put $10,000 to Work in a TFSA Right Now

Fool contributor Demetris Afxentiou has positions in Canadian National Railway, Enbridge, and Toronto-Dominion Bank. The Motley Fool recommends Canadian National Railway and Enbridge. The Motley Fool has a disclosure policy.

Establishing a predictable income stream is something that all income investors seek. To meet that goal, a portfolio needs the right dividend stock. Monthly payers are appealing options as they can better align with real-life budgeting needs. REITs are great ways to generate that income.

One such option for investors seeking a monthly dividend stock is Slate Grocery REIT (TSX:SGR.UN).

What makes Slate Grocery REIT a reliable monthly payer

Slate Grocery REIT operates a portfolio of over 110 grocery-anchored retail properties across the U.S. They aren’t trendy retail concepts or discretionary shopping centres. Instead, they are essential‑service tenants that people rely on regardless of economic conditions.

Slate also boasts a number of smaller, secondary tenants within its properties. Those secondary tenants include businesses such as pharmacies, doctors’ offices, restaurants and banks.

This gives Slate a defensive profile that supports stable occupancy and predictable rental income. Both the primary and secondary tenants provide a stable source of foot traffic, which helps to drive revenue.

Even better is the long-term appeal of those tenants. Slate’s portfolio is built around long-term leases with tenants that tend to stay around for years. Grocery stores are both difficult and expensive to relocate. Smaller tenants like banks and pharmacies also offer a stickiness to the communities that they serve.

The end result is that Slate is able to generate stable cash flow, which helps to support its position as a core monthly dividend stock for any portfolio.

For income‑focused investors, this kind of tenant mix and lease structure provides a level of reliability that is hard to find elsewhere in the market.

Let’s talk about that 7% yield

As of the time of writing, Slate offers investors a 7.4% yield that is paid out on a monthly cadence. The payout is backed by that essential‑service tenant base, strong occupancy levels, and consistent rental income.

For income-seeking investors with long investment timelines, the potential is huge.

At the current yield, even a $5,000 investment in Slate can provide investors with two additional shares of the REIT each month from reinvestments alone. This is a massive advantage that can lead to significant compounding over longer periods.

And because of the defensive appeal of Slate’s business, that income will remain consistent even during periods of market volatility. That’s because grocery stores remain among the most stable tenants due to their sheer necessity.

This dividend stock is appealing to income investors

Slate is an appealing stock for long-term income-seeking investors. That’s because it can provide recurring income, defensive appeal and growth potential. This makes it ideal for not only retirees seeking income, but also other investors with decades of compounding ahead of them.

While no investment is without risk, Slate offers a uniquely appealing option that should be a small position in any well-diversified portfolio.

For investors seeking a dividend stock, Slate is a straightforward way to generate monthly income from a defensive real estate portfolio.

The post This 7% Dividend Stock Pays Cash Every Single Month appeared first on The Motley Fool Canada.

More reading

• A Simple Way for Canadians to Earn $500 a Month Tax-Free From a TFSA
• How to Turn Your TFSA Into a Reliable Monthly Income Machine
• 2 Monthly Dividend Stocks That Could Pay You for Years
• How to Use a TFSA to Earn $500 a Month — Completely Tax-Free
• TFSA Investors: 1 Perfect Monthly Dividend Stock With a 7.7% Yield

Fool contributor Demetris Afxentiou has no position in any of the stocks mentioned. The Motley Fool recommends Slate Grocery REIT. The Motley Fool has a disclosure policy.

TFSAs are some of the best investment vehicles available to Canadian investors. Not only can they provide a platform for contributions and dividends to grow tax-free, but if the right stocks are picked, they can help to double your contribution over time.

While there’s no shortage of great stocks geared towards doubling your contribution, some are better picks than others. Here’s a look at two top picks that can help build that long-term engine for growth.

All aboard the TFSA growth train

For seasoned investors, Canadian National Railway (TSX:CNR) is synonymous with compounding. Canadian National’s business model is built on transporting necessities from factories and storehouses to markets and ports around the continent.

Canadian National’s network is among the largest on the continent, connecting major metro markets and three coastlines. The goods that Canadian National transports are essential in nature and can vary from automotive components, raw materials and wheat to crude oil, chemicals and finished goods.

In total, the railway transports over $250 billion worth of products across its vast network each year. That level of defensive appeal and stability is rare and means that Canadian National can support predictable long-term growth without volatility disrupting compounding.

If you’re an investor looking to double your contribution, that’s a key point that shouldn’t be dismissed. Canadian National offers a quarterly dividend with a yield of 2.4% and three decades of consecutive annual increases.

This means that investors can benefit from those reinvested growing payouts within the shelter of a TFSA.

Inside a TFSA, the combination of dividend increases and capital gains compounds to help investors hit the milestone to double your contribution.

This makes Canadian National a reliable long‑term compounder for TFSA investors.

Accelerate tax‑free compounding

Another option to double your contribution is to invest in Alimentation Couche‑Tard (TSX:ATD). For those unfamiliar with the stock, Couche-Tard is one of the largest convenience store and gas station operators on the planet.

In short, it’s an incredible cash engine that largely goes unnoticed on the market. But unlike Canadian National, that growth compounds in a different way.

Couche-Tard’s yield is a more modest 1.1%. Despite that lower yield, Couche-Tard delivers through its aggressive stance on growth. The company is known for its well-executed acquisitions, operational efficiency, and share buybacks.

That growth‑first model makes Couche-Tard a powerful addition to a TFSA portfolio, where capital gains remain tax-free.

Specifically, the focus is on reinvesting profits into expanding its global convenience store and fuel network. That’s historically translated into strong share price growth, which is ideal for TFSA investors seeking long‑term compounding.

In fact, over the trailing 5-year period, Couche-Tard’s stock has returned an impressive 85%.

Inside a TFSA, Couche-Tard’s growth compounds uninterruptedly. Every dollar stays in the account, and every reinvested dividend builds on itself. This makes the stock a core growth stock holding to double your contribution over a longer period.

Combine both stocks to double your contribution

Both Canadian National and Couche-Tard can create a balanced compounding engine that can help TFSA holders to double their contribution over time.

Canadian National provides stability, dividend growth, and predictable returns. Couche-Tard delivers capital appreciation and growth. Together, they provide a well-diversified mix that works well in a TFSA.

In my opinion, both stocks would do well in any well-diversified portfolio. The mix of dividends, capital appreciation, and tax-free compounding can help TFSA investors realize growth over longer periods.

In short, buy them, hold them and watch them double your contribution.

The post A Smart Way to Use Your TFSA to Effectively Double Your Contribution appeared first on The Motley Fool Canada.

More reading

• How Do Most Canadians’ TFSA Balances Look at Age 30?
• 1 Canadian Stock That Could Be Set Up for a Big Comeback in 2026
• Canadians Are Spending More Carefully. This Retail Stock Is Built for It.
• 1 Dividend Stock Down 16% to Buy Now and Hold for the Long Haul
• 4 Secrets I’ve Learned From Studying TFSA Millionaires

Fool contributor Demetris Afxentiou has positions in Canadian National Railway. The Motley Fool has positions in and recommends Alimentation Couche-Tard. The Motley Fool recommends Canadian National Railway. The Motley Fool has a disclosure policy.