Investing in Dividend Stocks Canada could be fully rewarding if you have any desire to see your well deserved savings grow consistently to plan your dream retirement. In this post, we will feature some of the best dividend stocks of Canada you can purchase at the present time and hold until retirement to multiply your cash.

The best dividend stock in Canada for retirement purpose

En-bridge is my most loved dividend stock pick in Canada for retirement planning, which has a strong financial base to help its energy transportation-focused, very much business model. It presently has a market cap of $107.4 billion, as its stock trades at $53.03 per share with around 8 percent year-to-date gains. At the ongoing market value, En-bridge stock offers an appealing dividend yield of 6.5 percent.

In case you don't know it as of now, En-bridge has been raising its dividend throughout the previous 27 years straight. Over the most recent couple of years, it has expanded its focus on diversifying revenue sources by extending its presence in crude oil export and sustainable or renewable energy portions. While these variables light up its drawn out growth outlook, the continuous growth trend in its financials as of now looks noteworthy, because of the reliably developing demand for energy items.

The best Canadian dividend stock from the banking sector

While investing into Dividend Stocks TSX to plan your fantasy retirement, you should consider broadening your stock portfolio, independent of your risk hunger. Taking into account that, we track down Bank of Nova Scotia truly amazing from the bank sector, which could assist you with enhancing your dividend stock portfolio for retirement. Scotia-bank right now has a market cap of $78.6 billion and an alluring dividend yield of almost 6.2%.

The bank's changed earnings developed by 4% year over year in the July quarter to $2.10 per share with the assistance of its solid credit quality and growing loan book across all business lines. While its profit from worldwide wealth management and capital business sectors segments have declined in current quarters, its core banking activities have helped Scotia-bank with conveying generally sure earnings growth. BNS stock as of now trades at $65.99 per share with around 26% year-to-date losses, in spite of its positive earnings development trends, making it look undervalued to purchase for the long haul to hold till retirement.

The leading dividend stock from the telecom area

BCE could be another top Dividend Stock in Canada to invest into for retirement. This Canadian telecom monster has a market cap of $56.1 billion, as its stock floats around $62 per share with 6 percent year-to-date losses. BCE stock has a dividend yield of almost 6 percent at this share cost.

Notwithstanding facing Covid-driven operational troubles over the most recent few years, BCE hasn't confronted huge financial difficulties because of its solid capital structure and reliable demand for its services. As the telecom organization keeps on focus on extending its 5G network across Canada and fortifying its digital media portfolio, its financial development is probably going to speed up essentially before very long, which ought to help its stock surge. Considering that, the new drop in its portion costs could be a chance to purchase this astonishing dividend stock now to hold as long as possible.

The online investing they've run for almost 10 years, Trade 11 Stock Advisors Canada, is beating the TSX by 16% points. Furthermore, at the present time, they think there are stocks that are better purchases.