Canadian traders targeted on passive revenue and complete returns are trying to find high TSX dividend shares so as to add to their self-directed Tax-Free Financial savings Account (TFSA) or Registered Retirement Financial savings Plan (RRSP) portfolios.
Trade leaders with lengthy monitor data of dividend development all through financial and sector cycles are good names to think about within the present atmosphere.
Enbridge
Enbridge (TSX:ENB) trades close to $67 per share on the time of writing. That’s down about $3 from the 12-month excessive, so traders have an opportunity to purchase the vitality infrastructure agency on a little bit of a dip.
Enbridge grows by a mix of strategic acquisitions and natural initiatives. The corporate spent US$14 billion in 2024 to purchase three pure gasoline utilities in the US, making Enbridge the most important pure gasoline utility operator in North America at a time when pure gasoline demand is predicted to rise as gas-fired energy services are constructed to ship electrical energy to AI knowledge centres.
Within the Q3 2025 earnings report, Enbridge stated it added about $3 billion to its capital program, which now sits at $35 billion by 2030. As the brand new belongings are accomplished and go into service, Enbridge is focusing on post-2026 annual development in distributable money circulation of about 5%. This could help regular dividend will increase.
Enbridge raised the dividend in every of the previous 30 years. Buyers who purchase ENB inventory on the present stage can get a dividend yield of 5.6%.
Canadian Pure Assets
Canadian Pure Assets (TSX:CNQ) is a contrarian decide immediately. The inventory trades close to $44 in comparison with $55 at one level in 2024. Falling oil costs are responsible for the decline. West Texas Intermediate (WTI) oil trades for near US$60 per barrel on the time of writing. It was above US$80 final yr.
Buyers will must be affected person. Analysts broadly count on oil costs to stay beneath stress by 2026 amid weak international demand and rising provide. That being stated, CNRL stays very worthwhile. The corporate says its WTI breakeven is within the US$40 to US$45 per barrel vary. Manufacturing development from acquisitions and profitable drilling packages are serving to offset the margin hit.
CNRL reported report oil and pure gasoline manufacturing in Q3 2025. Adjusted web earnings for the primary 9 months of 2025 got here in at $5.7 billion in comparison with $5.4 billion in the identical interval final yr.
CNRL can use its stability sheet to make the most of weak vitality costs to make strategic acquisitions whereas additionally supporting ongoing dividend development. The board elevated the dividend in every of the previous 25 years. Buyers who purchase CNQ on the present value can decide up a dividend yield of 5.3%.
Canada’s new technique to diversify vitality gross sales may result in new oil and pure gasoline pipeline capability being constructed to entry worldwide markets. This is able to profit CNRL. The corporate owns huge oil and pure gasoline reserves and has the monetary means to develop manufacturing.
The underside line
Enbridge and CNRL are trade leaders paying engaging dividends that ought to proceed to develop. When you’ve got some money to place to work in a buy-and-hold portfolio targeted on dividend revenue and long-term capital features, these shares need to be in your radar.
