Given Canada’s export dependence on the US, this uncertainty could quickly feed into stock prices. That’s one of the main reasons why Tax-Free Savings Accounts (TFSA) investors may want to focus on companies that are less dependent on cross-border trading noise. In this article, I highlight two safe Canadian stocks that can help your TFSA portfolio weather this storm.
Capital Power shares
As rate risk increases, companies are tied to essential services and long-term contracts Capital power (TSX:CPX) are starting to look even more attractive. If you don’t know, the company generates electricity across North America with a growing focus on flexible generation and battery storage. After rising 9.7% over the past year, shares of CPX recently traded at $58 per share, with a market cap of about $9.1 billion. At this market price, it also offers an annualized dividend yield of 4.7%.
In the third quarter of 2025, Capital Power’s financials clearly reflected the underlying strength of its business model. Despite ongoing macroeconomic uncertainties, the company’s quarterly adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was $477 million. Similarly, adjusted operating resources for the quarter were $369 million, supported by stable plant availability and contract-backed revenue. Interestingly, a new long-term contract for Midland Cogeneration Venture is likely to boost Capital Power’s cash flows through 2040 with improved pricing.
The company also recently deployed 170 megawatts of battery storage in Ontario, contracted through 2047, giving it decades of financial visibility. Overall, Capital Power, with predictable cash flows and key infrastructure, could be a great stock for TFSA investors looking for stability during trading uncertainty.
easy stock
It’s very common to see rate stress trickle down to consumers, causing stable, credit-oriented businesses to like it easy (TSX:GSY) worth considering for TFSA investors. This Mississauga-based company offers non-prime consumer loans across Canada.
While GSY stock has seen a decline over the past year, this mainly reflects macro and credit concerns rather than weak demand for its services. As a result, the stock now trades at $129.85 per share with a market cap of approximately $2.1 billion. At this price, it has an annualized dividend yield of 4.5%.
In the third quarter of 2025, goeasy delivered a 13% year-on-year (YoY) increase in new loans to $946 million, increasing the loan book by 24% to $5.4 billion. In the latest quarter, the company’s revenue reached a record $440 million thanks to strong application volumes across all lending products.
While provisions for credit losses increased due to early-stage delinquencies, the net charge-off rate improved to 8.9%. More importantly, goeasy continues to expand secured lending and finance growth through diversified financing. For TFSA investors, this combination of attractive dividends, scale and long-term demand makes GSY stock truly attractive, especially at current levels.
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