Written by Aditya Raghunath at The Motley Fool Canada
Investing in quality dividend-paying stocks is an excellent strategy for investors looking to create a steady stream of passive income. The Toronto Stock Exchange has several such dividend stocks that have strong fundamentals and a growing earnings base.
The best dividend stocks are those that increase their payouts every year, enhancing the effective yield over time. Due to rising cash flows and earnings, these dividend stocks also deliver capital gains to shareholders.
Here are two such TSX dividend stocks that Canadian investors can consider buying right now.
EQB stock
Valued at $3.5 billion by market cap, EQB (TSX:EQB) pays shareholders an annual dividend of $1.60 per share, translating to a yield of 1.73% which is not too high. However, investors should note that the Canadian bank has raised its payouts by 22% annually in the last 19 years.
Due to its…
