If you’re looking to build wealth over the long term, investing in Canadian dividend stocks through your RRSP can be a smart move. Dividend stocks offer a steady stream of income and the opportunity for capital appreciation. Here are three Canadian dividend stocks that you may want to consider holding onto for decades.
1. Royal Bank of Canada (RBC): As one of the largest banks in Canada, RBC has a solid track record of paying dividends and increasing them over time. With a strong presence in both the Canadian and international markets, RBC is well positioned for long-term growth.
2. Enbridge Inc.: Enbridge is a leading energy infrastructure company in North America, with a diversified portfolio of assets that include pipelines, gas distribution, and renewable energy projects. The company has a history of paying reliable dividends and is poised to benefit from the transition to cleaner energy sources in the coming years.
3. Fortis Inc.: Fortis is a utility company that operates in Canada, the United States, and the Caribbean. Known for its stable earnings and consistent dividend payments, Fortis is a reliable choice for investors looking for steady income and long-term growth potential.
By investing in these Canadian dividend stocks through your RRSP, you can build a diversified portfolio that generates passive income and grows your wealth over time. Remember to do your own research and consult with a financial advisor before making any investment decisions.