Canadian investors can implement various investment strategies, thanks to the types of shares available on the TSX. However, dividend stocks are some of the strongest long-term available to Canadians.
This is because they are typically front-line giants with a stable base in some of Canada’s most important economic sectors. These are typically stocks related to energy, banking, telecommunications, and even real estate.
Of course, investing in dividend stocks is not suitable for all investors. However, the power of compounding over time helps certain dividend stocks stand out in the long run.
Today, we’re going to look at two high-quality TSX dividend stocks that are perfect for long-term investments.
This TSX gem does not always deliver the highest performance, but it is always a stable option with strong growth prospects. RY’s strong foundation in the Canadian market and wide range of revenue streams make it highly robust over the long term.
Banking is a major component of the Canadian market, and it’s hard to discuss TSX’s top dividend stocks without mentioning the big banks. As of this writing, RY is trading at $ 130.05 and yielding 3.32%.
That may not be the most delicious performance out there, but it comes with enormous power. Also, RY easily has the wherewithal to start increasing the dividend once it is able to do so as the economy opens.
Investors looking for dividend stocks that offer both growth and stability should be interested in RY. This banking giant has a phenomenal track record of paying and growing its dividends while delivering reliable share price growth.
RY may not be the flashiest pick, but it’s ideal for long-term investors.
As a major player in the telecommunications space, Telus is one of the largest dividend stocks available. This TSX gem offers investors growth and reliability when it comes to their returns overtime.
Telus has long been committed to increasing its dividends and providing value to investors. This hasn’t changed lately and Telus is in a great position to continue to do so.
Besides its core operations, Telus also has other exciting avenues for future growth. For example, Telus Health is at the forefront of digital healthcare services, which is an area that could see great growth in the future.
As of this writing, Telus is trading at $ 28.66 and yielding 4.41%. With a produce thus, it is easy for investors to take an interest in this telecommunications giant.
Investors looking for the highest-paying stocks shouldn’t be too quick to overlook Telus.
Choose dividend stocks
Both RY and T are great options for long-term investors focused on dividend stocks. Over time, the total payback potential is high for these two TSX heavyweights.
Investors looking to acquire shares in some of the top TSX gems for the long term should keep an eye out for these names.
This article represents the opinion of the author, who may disagree with the “official” recommendation position of a Motley Fool advisor or premium service. We are Motley! Questioning an investment thesis, even one of our own, helps us all to think critically about investing and make decisions that help us be smarter, happier, and wealthier, which is why we sometimes post articles that may not be online. with recommendations, ratings or other content. .
Silly contributor Jared Seguin it has no position in any of the aforementioned stocks. The Motley Fool recommends TELUS CORPORATION.