Canadian pensioners are trying to find good dividend shares to purchase inside their self-directed Tax-Free Financial savings Account (TFSA) centered on producing regular and rising passive earnings.
Within the present market surroundings, it is sensible to search for business leaders which have stable monitor data of delivering dependable dividend funds via difficult financial situations.
Enbridge
Enbridge (TSX:ENB) has raised its dividend in every of the previous 30 years. The corporate is a big within the North American power infrastructure business and continues to develop via strategic acquisitions and inner growth tasks.
Enbridge bought three pure gasoline utilities in the USA in 2024 for US$14 billion. The addition of those companies additional diversified its income stream and positions Enbridge to profit from the anticipated surge in demand for pure gasoline within the coming years.
Enbridge can be engaged on a $28 billion capital program that may drive regular progress in earnings and distributable money circulate within the subsequent few years. This could assist ongoing dividend hikes. Enbridge trades close to $61 per share on the time of writing, in comparison with its 12-month excessive of round $65. Traders who purchase ENB inventory on the present stage can get a dividend yield of 6.1%.
Telus
Telus (TSX:T) is a contrarian choose proper now. The inventory trades close to $22 per share in comparison with $34 three years in the past. The leap in rates of interest in 2022 and 2023 drove up debt bills on variable-rate loans and made it dearer to borrow new funds to assist pay for wi-fi and wireline community upgrades. Telus was additionally hit by weaker income in its Telus Digital (Telus Worldwide) subsidiary. Value wars in 2024 put added stress on the sector.
The worst needs to be over for many of those points. Telus delivered respectable Q1 2025 outcomes and raised the dividend by 7% for 2025. Traders who purchase Telus on the present share value can get a dividend yield of seven.6%.
Financial institution of Nova Scotia
Financial institution of Nova Scotia (TSX:BNS) bounced $10 per share in current weeks, recovering some floor from the preliminary tariff-induced hunch. The inventory now trades close to $74 per share, however remains to be down from the $80 it fetched in late 2024 and is effectively off the $93 it reached in early 2022.
Financial institution of Nova Scotia is working via a method transition that may shift extra capital funding to the USA and Canada, whereas slicing again on progress in Latin America the place it spent billions of {dollars} on acquisitions over the previous 20 to 30 years.
It can take time for the turnaround efforts to ship significant outcomes, however traders who purchase the inventory on the present value receives a commission a stable 5.9% dividend yield whereas they wait.
The underside line
Enbridge, Telus, and Financial institution of Nova Scotia pay engaging dividends that ought to proceed to develop. If in case you have some money to place to work in a TFSA centered on passive earnings, these shares need to be in your radar.
