Pensioners and other income investors are looking for good Canadian dividend shares to add to their self -driven tax -free savings account portfolios.
In current market conditions, where the TSX is near a record -high and rates are in danger of causing a recession, it is logical to look for companies that have demonstrated a capacity to bring dividend growth through challenging economic situations.
Enbridge
Enbridge (TSX: ENB) acts almost $ 62.50 per share at the time of writing. The share has fallen compared to the 2025 high of around $ 65, so investors have the chance to buy ENB on a bit of a dip.
Enbridge is a giant in the energy infrastructure and useful sectors. The company is now the largest operator of natural gas use in Noord -America after completing a purchase of US $ 14 billion of three American natural gas use in 2024. These assets supplement the extensive natural gas transmission network of pipelines and storage facilities of Enbridge. The demand for natural gas is expected to rise steadily in the coming years, because gas -fired electricity facilities will be built to offer data centers for artificial intelligence.
Enbridge has also expanded its renewable energy division. It acquired the third largest solar and wind developer in the United States to increase its renewable possibilities. The group recently announced plans to build a new US $ 900 million, 600 megawatts sun site in Texas.
On the export side, Enbridge bought an export terminal in Texas and a partner of the Woodfibre Liquified Natural Gas (LNG) export facility was built on the coast of British Columbia. The international demand for North -American energy increases the countries are looking for reliable sources of stable suppliers.
The Enbridge oil pipeline network remains strategically important for the smooth operation of Canadian and American economies. The company moves around 30% of the oil produced in the two countries. The new push of Canada to reduce its dependence on the US for its oil sales can lead to new oil pipelines being built to deliver international markets. Enbridge would be a top candidate to build and exploit new oil pipeline infrastructure in the country.
Enbridge is working on a $ 28 billion capital program that will help stimulate the profit and distributable cash flow to support dividend growth. The board increased the dividend in each of the past 30 years. Investors who buy ENB shares at the current price can get a dividend yield of 6%.
Telus
Telus (TSX: T) acts almost $ 22 per share at the time of writing, compared to $ 34 at a certain moment in 2022. The shares is currently demonstrably a counter -choice, because the telecom sector stands for a variety of challenges, including reduced immigration and high interest rates. Telus uses many debts to finance its capital program. Higher debt costs can put pressure on cash available for benefits. The reduction of newcomers in Canada will lead to a lower sale of new devices and slower subscription growth in the industry. This is perhaps the reason why Telus and his colleagues fought last year at a price war that the industrial margins pressed.
Despite the challenges, Telus remains optimistic and he continues to yield considerable financial results. Management expects the free cash flow to remain robust enough in the coming years to support planned annual dividend rises from 3% to 8%. Investors who buy Telus shares at the current price can get a dividend yield of 7.5%.
The Bottom Line
Enbridge and Telus pay attractive dividends that must continue to grow. If you have some money to put to work in a TFSA -oriented on passive income, these shares deserve to be on your radar.
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