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Canadian seniors are searching for top TSX dividend stocks to add to their self-directed Tax-Free Savings Account (TFSA) focused on generating tax-free passive income. Bargain hunters started buying oversold dividend stocks in recent weeks, but many names still look undervalued and offer attractive yields.
Enbridge
Enbridge (TSX:ENB) raised its dividend in each of the past 29 years. The board gave investors a 3.1% increase for 2024, and more gains should be on the way. The stock trades for close to $50 at the time of writing compared to a 12-month low of around $43 but is still way off the $59 it reached in 2022.
Enbridge is working on a $25 billion secured capital program that will drive revenue and distributable cash flow (DCF) growth in the next few years. The company is also in the process of closing its US$14 billion acquisition of three natural utilities in the United States. Enbridge’s legacy…
