The price of gold has been on a wild ride in recent years. Since escaping from its long-term “support” price of around US$1,700 in 2021, the beautiful metal has risen 168% in price (or 200% going by the 52-week high closing price of $5,247). Granted, the rally in the price of gold has been interrupted a few times. We’re actually in the midst of a minor correction right now, with gold futures down 10.8% from their 52-week high. Nevertheless, gold is in a major secular uptrend. It’s natural to ask whether the pullback we are now seeing is a buying opportunity.

Coming up with an answer to that question isn’t easy. Metals don’t produce cash flows, meaning that conventional discounted cash flow valuation methods don’t work for gold. With gold, value is a simple function of supply and demand. So, coming up with a specific “target price” for gold is tough. Nevertheless, the fact that central banks around the world – including those of China and Russia – are ramping up their gold purchases provides hope that demand will continue rising relative to supply. In light of this, allocating some of your portfolio to gold in this environment probably does make sense.

How much of your money to allocate to gold

Once you’ve decided that you want to invest in gold, your next step is to determine what percentage of your money you’ll invest in it. Here, your guiding principle should be diversification. Gold is a massive asset, worth $32 trillion worldwide. However, global equities and bonds are worth $256 trillion combined. Therefore, an allocation of perhaps 10%–12% to gold would make sense in a globally diversified passive investment portfolio.

In which form should you own gold?

After deciding on your gold allocation, you need to determine in which form you should own gold. There are several options here. First, there is physical bullion. This leaves you with physical coin to store somewhere, which can be costly. On the flip side, this is the most useful type of gold in a “civilizational extinction” scenario. Next, there is gold futures. These essentially let you speculate on the price of gold without holding it. Finally, there is gold stocks, shares in gold miners that pay you dividends based on how much gold they extract and sell. Owing to their economic efficiencies, gold stocks are the most profitable gold-based assets to hold during bull markets.

An example of a Canadian gold stock that has done well

Given that stocks are among the best vehicles through which to own gold, the next question is “which gold stock should you buy?” There are countless choices out there, from dime a dozen Junior miners to established global companies.

For my money, one of the most legitimate and promising TSX gold stocks out there is Barrick Mining (TSX:ABX). Barrick is a Canadian mining firm that mines for both gold and copper. It is profitable enough to pay a dividend that yields 4.1% as of Tuesday’s market close. On a total return basis – that is, factoring in dividends as well as capital gains – the stock has gained 245% over the last 10 years, ahead of the TSX. And, in fundamental terms, the underlying company is thriving, with revenue and earnings up 31% and 140%, respectively, in the trailing 12-month period. Barrick Gold can do much more for you than what you’d get by stashing gold under your pillow. Its stock is very much an option worth considering.

The post Is It Worth Buying Gold in Your TFSA When the Price Pulls Back? appeared first on The Motley Fool Canada.

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

2026

Investing in the stock market can feel exciting, especially when you have a clear plan and a small amount like $1,000 ready to deploy. The key is to focus on fundamentally solid stocks that offer not just short-term momentum but also strong long-term potential. Right now, some companies from the energy sector continue to stand out, with a few of them delivering solid returns and stable income.

Two such stocks that deserve attention are Suncor Energy (TSX:SU) and TC Energy (TSX:TRP). Both companies combine strong operational performance with reliable dividends, making them really attractive picks. Let me explain why.

Suncor Energy stock

Suncor Energy is a leading Canadian integrated energy company with operations spanning oil sands development, production, refining, and retail distribution through its Petro-Canada network. SU stock currently trades at $91.72 per share with a market cap of $108.9 billion. Over the last year, it has surged by 63.6%, reflecting strong investor confidence.

Suncor’s recent growth has been driven by solid execution and operational strength. In its fourth-quarter 2025 results, the company reported adjusted funds from operations of $3.2 billion and free funds flow of $1.7 billion. It also returned about $1.5 billion to shareholders through dividends and share buybacks, highlighting its focus on rewarding investors.

Operationally, Suncor delivered impressive results. It achieved record upstream production of 909,000 barrels per day, up 34,000 barrels per day from the previous year. Refining throughput also hit a record 504,000 barrels per day, with refinery utilization reaching 108%. These numbers underline the company’s efficiency and ability to generate strong cash flows.

Looking ahead, Suncor plans to return 100% of excess funds to shareholders in 2026, including an estimated $3.3 billion in share repurchases. It has also increased its quarterly dividend by around 5%. At the same time, the company continues to invest in lower-emissions power and renewable fuels, aligning with evolving industry trends.

TC Energy stock

TC Energy (TSX:TRP) is another strong player in the energy space, operating an extensive network of natural gas pipelines and power generation assets across North America. The stock trades at $88.16 per share with a market cap of $91.8 billion and has gained 26.1% over the past year. It also offers a quarterly dividend yield of 4%.

The company’s recent performance reflects strong operational execution. In the fourth quarter of 2025, TC Energy reported a 13% YoY (year-over-year) increase in comparable EBITDA (earnings before interest, taxes, depreciation, and amortization) to $3 billion. Segmented earnings rose by 15% to $2.2 billion. A major driver behind this growth has been record pipeline activity. Canadian natural gas pipelines averaged 27.2 Bcf/d (billion cubic feet per day), while U.S. pipelines reached an all-time high of 39.9 Bcf in daily deliveries. Mexico operations also remained strong, with flows averaging 2.7 Bcf/d and power deliveries rising 11% YoY.

Going forward, TC Energy expects to bring about $4 billion worth of new capacity online in 2026. Its capital spending is projected between $6 and $6.5 billion before non-controlling interests. The company also remains focused on maintaining a healthy balance sheet and meeting its long-term financial targets.

Should you invest $1,000?

If you have $1,000 to invest right now, focusing on strong, cash-generating businesses can make a big difference over time. Suncor Energy and TC Energy both offer a mix of growth, income, and stability, backed by solid fundamentals and clear long-term strategies. While no investment is without risk, these two energy stocks provide a balanced way to participate in the sector while benefiting from dividends and potential capital appreciation.

The post The Stocks I’d Choose First If I Had $1,000 to Put to Work Right Now appeared first on The Motley Fool Canada.

Fool contributor Jitendra Parashar 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.

2026

Market uncertainties often make one review their retirement savings. Ask those who lost a significant chunk of their life savings in the 2008 Financial Crisis. The changing macroeconomic situations may permanently alter the financial landscape for retirees yet again. On one side, you have artificial intelligence (AI) changing the way we work, drive, live, consume content, and learn. Is this AI efficiency coming at a cost? It is difficult to tell. On the other side, the oil and gas supply chain is undergoing a shift. At such times, how does one tell what is sufficient when it comes to retirement savings.

Why $1 million in retirement savings may not be enough anymore?

Until last year, a $1 million retirement savings account gave Canadians peace of mind to retire and live off the passive income these savings generated. However, this may not be enough anymore.

Retirement is no longer defined by age. Many millennials are looking to retire early. If you are not 60 or above, the Canada Revenue Agency (CRA) retirement payouts are not coming to your rescue.

Early retirement

If you are in your late 40s and looking to retire with just a $1 million pool, your savings won’t suffice. Firstly, Canada Pension Plan (CPP) and Old Age Security (OAS) benefits are still 15 years away. Second, your retirement years are longer, which means you want your savings to last longer than 20 years, which is ideally the scenario for retirement at 60. Lastly, lower employment/business income during early retirement could affect the CPP payout, as you do not contribute to CPP from investment income.

Medical inflation

A $1 million retirement savings account may not be enough to cover medical inflation. Medical and long-term care costs will grow at an accelerated rate, and medical insurance can only cover a certain portion of your medical costs. The rising cost of medicines, procedures, hospital stays, and a significant doctor supply crunch means long waits and high costs. If you have a significant medical condition, like diabetes, you might want to consider having a separate portfolio of $1 million dedicated to medical bills.

Taxes

If you are considering building your retirement pool in a Registered Retirement Savings Plan (RRSP), it may not be tax-efficient upon retirement. RRSP withdrawals are subject to withholding tax and can affect your OAS pension, which depends on your income threshold. Once your RRSP ends, you have to shift the money to a Registered Retirement Income Fund (RRIF), which has a minimum withdrawal limit.

Thus, a Tax-Free Savings Plan (TFSA) is an ideal instrument to build a million-dollar retirement pool for emergency money, medical bills, and discretionary spending.

Slowing dividends

Another major issue retirees of tomorrow face is slowing dividends. The business environment is getting challenging and competitive. This has slowed dividends, with many dividend aristocrats altering their dividend policies. While dividend stocks can give you regular income, they may not be able to fight inflation.

How to build your retirement pool

Does this mean you can’t retire on your own terms? Not exactly.

It means that traditional retirement planning strategies have to adapt to the new normal. Instead of relying solely on dividend stocks, your retirement pool needs to have growth stocks that can beat medical inflation. You have to use a TFSA at its optimum to prevent the CRA from taking a big bite from your savings.

The future is AI and technology, and they are the stocks that can give you the accelerated growth your retirement savings need. If you have already invested in Nvidia and made windfall gains, consider booking profits from some shares and investing in Micron Technology (NASDAQ:MU). Micron stock has slipped significantly amidst the Iran war. However, that doesn’t change its secular growth outlook from data centre memory chips.

The money is flowing into building AI data centre chips, making them cash cows of tomorrow. Micron will benefit from the chip shortage, as high demand will help get a higher price. Like Nvidia, Micron may also witness two to three growth phases as the share of higher-margin data centre memory chips will bring windfall gains at least for the rest of 2026 and beyond.

The post Why $1 Million in Retirement Savings May Not Be Enough Anymore   appeared first on The Motley Fool Canada.

Fool contributor Puja Tayal has no position in any of the stocks mentioned. The Motley Fool recommends Micron Technology and Nvidia. The Motley Fool has a disclosure policy.

2026

High-yield dividend stocks are an attractive investment to power your income stream. However, focusing solely on high yields is risky. A more prudent approach is to look for TSX stocks with attractive dividend yields and sustainable payout ratios.

In addition to high yield and payout sustainability, investors should consider companies with solid fundamentals and a proven history of dividend payments. Businesses that consistently generate solid cash flows and maintain disciplined capital allocation are better positioned to sustain and grow their dividends over time. A long track record of reliable distributions also signals management’s commitment to returning value to shareholders.

Equally important is the company’s ability to deliver profitable growth. Firms that continue to expand revenue and earnings are more likely to maintain steady payouts while also increasing dividends in the future.

Against this background, here are three high-yield dividend stocks to power your income stream in 2026.

High-yield dividend stock #1: SmartCentres REIT

SmartCentres REIT (TSX:SRU.UN) stands out as a dependable high-yield dividend investment for income investors. The REIT distributes $0.154 per unit each month, equivalent to an annual yield of about 6.8%. Its high yield, long record of consistent payouts, and stable operations make it a reliable source of recurring income.

The REIT’s future distributions appear well supported by the high-quality real estate portfolio, which continues to deliver solid net operating income. Its properties occupy prime retail locations, sustaining strong leasing demand and healthy renewal rates that help maintain predictable rental revenue and stable cash flow.

SmartCentres’ retail portfolio continues to attract steady customer traffic, supporting tenant sales and overall leasing activity. By the end of 2025, occupancy stood at 98.6%, while rent collection exceeded 99% of revenue. Lease renewals, excluding anchor tenants, generated rental rate growth of 8.4%, highlighting resilient demand within its retail-focused portfolio.

Looking ahead, steady demand for its retail properties, a solid mixed-use development pipeline, and large land holdings position SmartCentres REIT to sustain its payouts.

High-yield dividend stock #2: BCE

BCE (TSX:BCE) is another high-yield dividend stock to power your income. Canada’s communications and media services giant has historically rewarded shareholders with consistent dividend increases. However, facing intensifying competition, regulatory pressures, and rising operating expenses, BCE reduced its annualized dividend last year from $3.99 to $1.75 per share.

While the dividend was reduced, the move strengthened BCE’s financial position and enhanced its ability to sustain its future payouts. By lowering the dividend, BCE has redirected capital toward debt reduction, strengthening its balance sheet, and preserving a greater share of internally generated cash flow.

Management now aims to maintain a dividend payout ratio between 40% and 55% of free cash flow, a range more sustainable over the long term. Even after the cut, BCE stock still offers an attractive dividend yield of 5.2%.

BCE’s diversified operations also support its long-term outlook. The company generates revenue from wireless services, fibre broadband infrastructure, enterprise technology solutions, and media assets. Its diversified revenue and ongoing efforts to improve margins and customer retention are expected to support steady free cash flow growth and maintain dependable dividend payments.

High-yield dividend stock #3: Whitecap Resources

Whitecap Resources (TSX:WCP) is another cash-generating stock to add to a TFSA portfolio. The energy company pays a monthly dividend of $0.061 per share, yielding about 4.8% based on the April 6 closing price of $15.19.

Whitecap has a long history of returning capital to shareholders. Between January 2013 and December 2025, the energy company distributed approximately $3 billion in dividends. Its payouts reflect its ability to generate reliable cash flow even during periods of volatility in global commodity prices.

Its dividend payments are supported by a diversified portfolio of energy assets, manageable debt levels, and a significant inventory of drilling opportunities. Further, Whitecap’s acquisition of Veren strengthened its growth prospects. The deal expanded its asset base and operating footprint. Greater scale improves market access and solidifies Whitecap’s competitive position, supporting future production, cash flow growth, and dividend payments in the years ahead.

The post 3 High-Yield Dividend Stocks to Power Your Income Stream in 2026 appeared first on The Motley Fool Canada.

Fool contributor Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool recommends SmartCentres Real Estate Investment Trust and Whitecap Resources. The Motley Fool has a disclosure policy.

2026

Supplementing your income with dividends is a smart way to earn greater wealth over time. It’s not a get-rich-quick scheme, it’s one that requires patience and discipline. In the long run, the passage of time and the compounding of returns will likely allow you to accumulate more wealth than you can imagine.

In this article, I’ll take a look at Capital Power Corp. (TSX:CPX) stock, a growth-oriented power producer that has been providing shareholders with strong total returns over the last 10 years – in the form of both dividends and capital appreciation.

Capital Power – A brief history

For starters, let’s look back for a brief review of Capital Power. This background can help build the case for Capital Power shares.

The company was created in July 2009 to separate Epcor Utilities Inc.’s generation business into a new, publicly-traded independent power producer. Since then, the company has consistently followed a business model that focuses on generating stable and growing cash flows from a contracted and merchant power generation portfolio.

Today, Capital Power is focused on natural gas-fired generation, which involves burning methane to create electricity. This is the cheapest and quickest form of energy, with a booming demand profile. With a 90% natural gas weighting, the company has positioned itself to benefit from this surge in power demand.

Since 2009, the company has grown capacity by more than four times. This means that the power producer has greater scale and diversity to lead it into the next few years.

CPX stock on the TSX

At this time, Capital Power stock is yielding a generous 4.1%. This dividend is supported by strong cash flows, a strong balance sheet, and a growing business. And Capital Power has a variety of opportunities to continue to grow.

For example, power prices and spreads are increasing rapidly. As such, there’s a vast opportunity for re-contracting at much better terms. This is resulting in contracts with higher pricing and longer duration. As an illustration of the kind of value that this has to the company, I’d like to single out two recent re-contracting results.

The first is the Midland Cogeneration Venture in Michigan. Last year, the company signed new contracts for this facility which resulted in an 85% lift in its earnings before interest, taxes, depreciation, and amortization (EBITDA). Similarly, the company entered into a new contract for its Arlington Valley facility, at 140% above the existing contract.

Over and above this, the power producers will continue to benefit from the unprecedented rise in energy demand that’s expected in the coming years. In 2025, its adjusted EBITDA increased 18% to $1.6 billion and its adjusted funds flow from operations increased 29% to $1.1 billion. This is evidence that the company’s current strategy and macro backdrop is working in its favour.

How much to invest in CPX stock for $1,000 in annual dividends

So, in order to receive $1,000 in annual dividends from CPX stock, we must buy 362 shares. To be exact, this would give you $1,001.57 in dividend income. Considering that CPX’s stock price is currently trading at $66.87, this requires an investment of approximately $24,200.

The bottom line

As one of the lesser-known utility stocks, Capital Power has clear advantages. It’s rapidly growing, consistent results will continue to support a growing dividend and share price. Currently CPX’s stock price is trading at a mere 20 times next year’s expected earnings. With a dividend yield of 4.1%, this is a utility stock to consider for your dividend income needs.

The post How Many Capital Power Shares Would it Take to Earn $1,000 in Annual Dividends? appeared first on The Motley Fool Canada.

Fool contributor Karen Thomas has no position in any of the stocks mentioned. The Motley Fool recommends Capital Power. The Motley Fool has a disclosure policy.

2026

Passive income has become increasingly important in today’s uncertain economic environment, shaped by ongoing geopolitical tensions, persistent inflation, and workforce restructuring driven by rapid AI adoption. Building reliable passive income streams not only enhances financial stability but also helps investors achieve their long-term financial goals more efficiently. Reinvesting these regular payouts can further accelerate wealth creation through compounding.

One of the most convenient and cost-effective ways to generate passive income is to invest in high-yield, monthly-dividend-paying stocks. These investments provide consistent cash flow while reducing reliance on market timing. Moreover, holding such investments in a Tax-Free Savings Account (TFSA) allows investors to earn and reinvest dividend income tax-free, thereby maximizing overall returns.

Against this backdrop, here are two top monthly-paying stocks that stand out as compelling additions to a TFSA portfolio right now.

SmartCentres Real Estate Investment Trust

Real estate investment trusts (REITs) are required to distribute at least 90% of their taxable income to unitholders, making them particularly attractive for income-focused investors. Against this backdrop, SmartCentres Real Estate Investment Trust (TSX:SRU.UN) stands out as a compelling option. The REIT owns and operates 198 strategically located properties across Canada and benefits from a high-quality tenant base, with approximately 95% of tenants having regional or national footprints. Notably, about 60% of its tenants provide essential services, helping maintain stable occupancy levels regardless of broader economic conditions.

In addition to its resilient occupancy, ongoing lease renewals and new leasing activity – combined with solid rent growth – should continue to support its financial performance. This strength enables the REIT to maintain attractive distributions, currently offering a monthly payout of $0.1547 per unit, which translates to a forward yield of about 6.8%.

Looking ahead, despite macroeconomic pressures and elevated costs, demand for retail real estate remains firm, partly due to constrained new supply amid high construction expenses. This environment positions SmartCentres well to benefit, especially given its robust development pipeline of approximately 87 million square feet, including about 0.8 million square feet currently under construction.

Given its stable occupancy, strong tenant mix, and long-term growth initiatives, SmartCentres appears well-positioned to continue delivering reliable monthly income, making it an attractive choice for investors seeking consistent passive income.

Pizza Pizza Royalty

Another attractive monthly-paying Canadian dividend stock offering a yield above 6% is Pizza Pizza Royalty (TSX:PZA). The company operates 694 Pizza Pizza restaurants and 100 Pizza 73 locations through its franchise network and generates revenue by collecting royalties based on franchisee sales. This asset-light model insulates its financials from direct exposure to rising input costs, such as food prices and labour wages.

Additionally, the company aims to provide stable, predictable returns by maintaining consistent monthly distributions despite the restaurant industry’s seasonal nature. Its current monthly payout of $0.0775 per share yields 6.03% on a forward basis.

Looking ahead, PZA continues to expand its footprint and expects to grow its traditional restaurant count by 2–3% this year. At the same time, ongoing initiatives – including menu innovation, enhancements to its digital ordering experience, and a continued focus on restaurant renovations – are likely to support same-store sales growth.

Given these strategic initiatives and the stability of its royalty-based revenue model, PZA appears well-positioned to sustain its dividend payouts in the coming years, making it an excellent choice for income-focused investors.

The post 2 TSX Stocks That Turn Dividends Into Reliable Monthly Paycheques appeared first on The Motley Fool Canada.

Fool contributor Rajiv Nanjapla has no position in any of the stocks mentioned. The Motley Fool recommends SmartCentres Real Estate Investment Trust. The Motley Fool has a disclosure policy.

2026

A $14,000 investment in high-quality dividend stocks can help build a steady stream of passive income. The strategy becomes even more powerful when those investments are held within a Tax-Free Savings Account (TFSA). Because any dividends earned or capital gains realized in a TFSA are completely tax-free, investors can keep the full value of their returns and allow their capital to compound more efficiently over time.

For investors seeking passive income, focus should be on TSX stocks with dependable dividend histories. These Canadian companies generate consistent and predictable cash flows and are better equipped to maintain and grow their distributions, even during periods of market volatility.

With these considerations in mind, here is a dividend-paying TSX stock that stands out as a strong investment for passive income investors. Based on its recent closing price and dividend yield, allocating $14,000 to this dividend stock could generate $725.6 in annual passive income.

Top passive income stock: Enbridge

Enbridge (TSX:ENB) stock is a compelling option for investors seeking dependable passive income within a TFSA. It offers an attractive dividend yield of 5.2% and has a long history of consistent distributions, making it a reliable income stock.

Notably, Enbridge has consistently paid dividends for more than 70 years and has shown a strong commitment to dividend growth. Since 1995, the energy infrastructure company has raised its dividend by about 9% per year. This sustained track record reflects ENB’s ability to navigate commodity cycles and varying economic conditions while continuing to return capital to investors.

Supporting Enbridge’s consistent dividend payments is its low-risk, diversified business model. The company generates cash flow from a highly diversified network of energy infrastructure assets, which helps reduce earnings volatility and drives distributable cash flow (DCF). A substantial portion of Enbridge’s EBITDA is derived from regulated operations or long-term take-or-pay contracts, limiting direct exposure to commodity price fluctuations and providing a predictable revenue base that supports its dividend program.

Further, much of Enbridge’s EBITDA is tied to inflation-adjusted agreements, which can help offset rising costs and support cash flow expansion over time.

Enbridge’s extensive energy infrastructure network further strengthens its position. The company’s pipelines and related assets connect major supply regions with key demand centres across North America. This results in strong asset utilization and positions the company to benefit from ongoing energy demand.

Overall, Enbridge is a top stock for TFSA investors seeking worry-free passive income for years to come.

Make $725.60/year in tax-free passive income

Enbridge is well-positioned to sustain its dividend growth streak in the years ahead. Its diversified revenue streams, high utilization of infrastructure assets, and largely low-risk, contract-based operating model support stable growth in distributable cash flow (DCF) per share, creating a reliable foundation for consistent dividend payments and future increases.

Over the past five years, Enbridge has returned roughly $38 billion to shareholders through dividends. Moreover, management expects to distribute between $40 billion and $45 billion during the next five years, supported by expanding regulated and contracted cash flows. Its targeted DCF payout ratio of 60% to 70% appears sustainable, allowing ENB to balance shareholder returns while retaining sufficient capital to fund future growth initiatives.

Enbridge is expected to benefit from accretive brownfield investments that expand or optimize existing infrastructure. These projects carry lower execution risk and benefit from favourable energy market fundamentals. In addition, Enbridge’s secured capital backlog of $39 billion provides long-term visibility into earnings growth and cash flow stability.

Beyond its traditional operations, Enbridge stands to benefit from structural shifts in the broader energy landscape. Rising electricity demand and ongoing energy transition initiatives are expected to create additional opportunities for infrastructure investment and expansion.

At the current dividend rate, an investment of $14,000 in Enbridge stock would allow an investor to acquire approximately 187 shares. Based on the company’s current payout, this position would generate about $181.39 in quarterly dividend income, or roughly $725.60 in annual passive income.

The post TFSA: Invest $14,000 in This TSX Stock and Create $725.60 in Annual Passive Income appeared first on The Motley Fool Canada.

Fool contributor Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool recommends Enbridge. The Motley Fool has a disclosure policy.

2026

Last year, BCE Inc (TSX:BCE) investors had a rude awakening when they read the earnings release for the fourth quarter of 2024. In the release, the company said that it had been forced to cut its dividend from $0.99 to $0.49, owing to a negative economic outlook. The stock plunged after the news came out.

While BCE’s press release used phrases like “unsupportive policy environment” and “global recession fears” to justify the dividend cut, the reality was that the dividend payouts had simply gotten too expensive. Paying out more in dividends than it earned in profits, BCE did what it would have had to sooner or later.

BCE Inc’s 2025 dividend cut reveals the perils of high yield investing. Too often, a high yield today transforms into a low yield and a plunging stock price tomorrow. Nevertheless, there are responsible companies out there paying dividends that are both high and well supported by earnings. In this article, I’ll explore three of them.

Rogers Communications

Rogers Communications Inc (TSX:RCI.B) is a Canadian telco stock with an admirably low 13.2% payout ratio. This ratio comes from the fact that the company paid out $913 million in dividends last year on $6.9 billion in earnings. Despite the low payout ratio, RCI.B actually has a fairly high dividend yield: 4.2%. When a stock has a low payout ratio and a high yield simultaneously, that it is a good sign that it is cheap in fundamental terms.

Indeed, RCI.B does appear to be a cheap stock, going by valuation multiples. At Monday’s closing price, the stock traded at 9.5 times earnings, 1.2 times sales, 1.5 times book, 4 times operating cash flow, and 12.4 times free cash flow (FCF). These multiples are far below average for the TSX as a whole. They also compare favourably to Rogers’ competitors BCE and Telus.

Why is Rogers stock so cheap? Most likely, because of the sector-wide issues in Canadian telcos as a whole. As mentioned previously, BCE has been cutting its dividend. Also, these companies are not growing their earnings very much. Nevertheless, a cheap enough stock can be worth it without growth: RCI.B seems to fit that description.

TD Bank

The Toronto-Dominion Bank (TSX:TD) is a Canadian bank stock with a 3.2% dividend yield. Early last year, the yield was approaching 6%, but it got smaller after a large increase in the stock price. Despite the higher price and lower yield, TD is probably a half-reasonable hold today. The company is growing both its revenue and earnings at commendable paces, contrary to predictions that it would not be able to after having its U.S. retail assets capped by the U.S. Department of Justice (DoJ). Despite the growth, it still trades at a “decent” 15 times adjusted earnings and 1.9 times book – lower than the North American market averages. Personally, I’m very comfortable holding TD even after its massive 2025 rally.

Fortis

Last but not least we have Fortis Inc (TSX:FTS). This is a Canadian utility stock with a 3.3% dividend yield and a 73% payout ratio. A payout of 73% is much higher than the other two stocks’ payout ratios, but it is relatively low for a utility stock. Utilities are well known for pushing it with their dividend payouts, in many cases paying out well over 100% of what they earn. This in some cases results in dividend cuts, as we saw at Algonquin Power & Utilities Corp (TSX:AQN) a few years back. Fortis usually maintains its dividend payouts within reason, and that helps it run a much smoother ship than the average TSX utility stock. Over long periods of time, it also results in superior total returns.

The post 3 TSX Dividend Stocks With Payout Ratios That Actually Hold Up to Scrutiny appeared first on The Motley Fool Canada.

Fool contributor Andrew Button has positions in TD Bank. The Motley Fool recommends Fortis, Rogers Communications, and TELUS. The Motley Fool has a disclosure policy.

2026

Long-term investing remains a highly effective strategy, as it helps investors ride out short-term market volatility while harnessing the power of compounding. At the same time, careful stock selection is crucial – focusing on high-quality companies with strong, well-established businesses. In this context, and given the uncertain outlook driven by ongoing tensions in the Middle East, the following three stocks stand out as attractive buying opportunities for long-term investors.

Fortis

Fortis (TSX:FTS) operates a highly regulated utility business, with about 95% of its assets tied to the low-risk transmission and distribution of electricity and natural gas. The company serves roughly 3.5 million customers across the United States, Canada, and the Caribbean, benefiting from the essential nature of its services.

This stability, combined with a steadily expanding asset base, has supported consistent financial growth, driving both share price appreciation and reliable dividend increases. Over the past two decades, Fortis has delivered an average annual total shareholder return of approximately 10.5%. It has also raised its dividend for 52 consecutive years and currently offers an attractive yield of around 3.3%.

Looking ahead, Fortis is well-positioned to capitalize on rising energy demand driven by economic growth, increased investment in AI-ready data centres, and the ongoing electrification of transportation. The company plans to invest $28.8 billion through the end of the decade, targeting a 7% annual growth in its rate base to reach $57.9 billion. Alongside these expansion initiatives, continued cost optimization and efficiency improvements should support steady earnings growth. Backed by this outlook, Fortis expects to grow its dividend by 4–6% annually through 2030, reinforcing its appeal as a reliable long-term investment.

Enbridge

Enbridge (TSX:ENB) operates an extensive pipeline network that transports oil and natural gas across North America under a tolling framework and long-term take-or-pay contracts. In addition, it owns three natural gas utility businesses and a growing portfolio of renewable energy assets supported by long-term power purchase agreements (PPAs). With nearly 98% of its earnings derived from cost-of-service and contracted cash flows – and about 80% indexed to inflation – its financial performance remains relatively resilient to economic cycles and market volatility.

Backed by this stable business model, the Calgary-based company has delivered an average annual total shareholder return of around 13% over the past 20 years. It has also increased its dividend for 31 consecutive years and currently offers an attractive yield of around 5.2%.

Despite the global transition toward cleaner energy, oil and natural gas could remain key components of the energy mix for years to come. Rising oil and natural gas production and demand across North America should continue to support the need for Enbridge’s infrastructure. At the same time, the company has identified approximately $50 billion in growth opportunities and plans to invest $10–$11 billion annually to advance these projects.

Amid these expansion initiatives, management expects adjusted earnings per share (EPS) and discounted cash flow (DCF) per share to grow at a steady, single-digit pace in the coming years. Supported by these solid growth prospects, Enbridge appears well-positioned to continue increasing its dividend, making it a compelling long-term investment.

Dollarama

My final pick is Dollarama (TSX:DOL), a leading discount retailer that has delivered an impressive 500% return over the past decade, representing an annualized gain of about 19.6%. Through its efficient direct-sourcing model and strong logistics network, the company has kept costs low, allowing it to offer a wide range of products at attractive price points. This value proposition drives consistent customer traffic, regardless of broader economic conditions, supporting steady financial growth and share price appreciation.

Looking ahead, Dollarama continues to expand its footprint and plans to increase its Canadian store count from 1,691 to 2,200 by fiscal 2034. It is also growing its presence in Australia, with the store count expected to rise from 401 to 700 during this period. In addition, increasing contributions from its investments in Central American Retail Sourcing (CARS) and Inversiones Comerciales Mexicanas (ICM) should further support its long-term growth.

Given these multiple growth drivers, Dollarama appears well-positioned to continue delivering solid returns over the next five years, making it an attractive addition to a long-term investment portfolio.

The post 3 Stocks I’d Buy Today and Hold Comfortably All the Way to 2031 appeared first on The Motley Fool Canada.

Fool contributor Rajiv Nanjapla has no position in any of the stocks mentioned. The Motley Fool recommends Dollarama, Enbridge, and Fortis. The Motley Fool has a disclosure policy.

2026

As geopolitical uncertainties continue to take a toll on investor sentiment in 2026, it could be a wise decision to add quality Canadian dividend stocks to your portfolio. The good news is that the Toronto Stock Exchange is home to some of the most attractive dividend payers, offering a mix of stability and growth potential.

Let’s dive into two top TSX-listed companies known for their generous dividends and see if these high-yielders are worth your investment.

Mullen stock

Mullen Group (TSX:MTL) is a logistics provider with a diversified portfolio of services, including less-than-truckload, logistics and warehousing, specialized and industrial services, and U.S. and international logistics. The company operates through multiple segments that cover different areas of the transportation industry. Currently trading at $17.33 per share, Mullen Group has a market cap of $1.7 billion. Over the last year, its stock has appreciated by 35%, reflecting strong investor confidence. The company offers a monthly dividend with a yield of 4.9%.

Mullen Group’s recent performance has been supported by strategic acquisitions and operational efficiencies. In its latest earnings report, the company posted revenue growth of 7% YoY (year-over-year) to $533.8 million, driven mainly by contributions from newly acquired businesses like Cole International Inc. and Pacific Northwest Moving (Yukon) Limited. However, its OIBDA (operating income before depreciation and amortization) declined by 13.6% to $73.4 million due to lower margins in the Less-Than-Truckload and Specialized & Industrial Services segments. Even so, its diversified business model continues to help it navigate economic cycles while maintaining a solid financial position.

Meanwhile, Mullen Group remains focused on long-term growth by expanding its service offerings and improving operational efficiency. Its disciplined management approach and ongoing acquisitions could support future earnings growth.

Plaza Retail REIT

Plaza Retail REIT (TSX:PLZ.UN) is an open-ended real estate investment trust (REIT) focused on retail properties across Ontario, Quebec, and Atlantic Canada. The company holds interests in around 211 properties, covering approximately 8.9 million square feet. It currently trades at $4.25 per unit with a market cap of $469.4 million. Over the last 12 months, its stock has gained 12.4%, showing resilience despite broader market volatility. It offers a monthly dividend with a yield of 6.6%.

In its latest earnings report, Plaza posted an 8.8% YoY increase in FFO (funds from operations) to $44 million, or $0.395 per unit, for the year ended December 2025. This growth came from both the same-asset performance and newly acquired properties. Despite some tenant-related challenges, committed occupancy remained strong at 97.6%, while leasing spreads stood at 13.4%. Its development and intensification projects also added about $3 million in incremental NOI (net operating income) during the year.

Going forward, Plaza Retail REIT plans to continue optimizing its portfolio through acquisitions and development projects. Its strong fundamentals and focus on essential retail tenants support its long-term outlook. With a high yield and reliable payouts, it remains an attractive option for income-focused investors.

Foolish takeaway

Clearly, high-yield dividend stocks could play an important role in building long-term wealth. Mullen Group and Plaza Retail REIT offer attractive yields backed by solid business fundamentals. While both companies face their own challenges, their growth strategies and disciplined execution make them worth considering for long-term Foolish Investors seeking steady income and potential upside.

The post Are the Highest-Paying Dividend Stocks on the TSX Actually Worth Buying? appeared first on The Motley Fool Canada.

Fool contributor Jitendra Parashar has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends the Mullen Group. The Motley Fool has a disclosure policy.

2026