2 TSX dividend stocks to buy for retirement income

by John Smith Stock Market Investor

Investors generally look for dividend stocks that can generate stable passive income to curb inflation effects. While searching for dividend stocks, however, one should always look into the financials and fundamentals of companies to judge its dividend payout capabilities. There are some robust stocks in the Canadian markets that have delivered stable dividends in the past few years and also hiked their dividends from time to time.
Let us explore the two TSX-listed dividend stocks to buy for retirement.

Enbridge Inc (TSX: ENB):

The Calgary, Alberta-based energy infrastructure company pays a quarterly dividend of C$ 0.835 per share, as against that of C$ 0.81 in November 2020.Enbridge Inc’s dividend, which posted a yield of nearly seven per cent on Friday, December 3, grew by roughly seven per cent in three years.

Capital Power Corporation (TSX: CPX):

Capital Power Corporation, an Edmonton-based power producer, is scheduled to pay a quarterly dividend of C$ 0.547 apiece on January 31 next year, against an ex-dividend date of December 30.

Bottom line

Last month, on November 29, Enbridge Inc and Capital Power Corporation inked a memorandum of understanding (MOU) to work together on carbon capture and storage solutions to minimize carbon emissions in Alberta.

Development in low carbon or carbon neutral energy solutions could be crucial in the fight against growing climate change issues.