Canadian dividend stocks highlighted for TFSA portfolios

Canadian investors are increasingly utilizing Tax-Free Savings Accounts (TFSAs) for long-term wealth creation, though statistics from the CRA indicate that only 8.68% of the 17.8 million holders have maximized their contributions.

Market analysts highlight Fortis (TSX: FTS) and TC Energy (TSX: TRP) as notable options for TFSA portfolios. Fortis, a utility company, has increased its dividend for 52 consecutive years and plans to invest $28.8 billion through 2030 to expand its regulated electricity and natural gas infrastructure.

TC Energy is also identified as a potential candidate for income investors, currently trading at a discount to its recent highs. The company is expanding its energy infrastructure to meet rising natural gas demand, supported by the commercial operation of the Coastal GasLink pipeline, which transports natural gas to the LNG Canada export facility.