Written by Andrew Walker at The Motley Fool Canada
Retirees seeking passive income and other investors looking to build pension portfolios have an opportunity to buy great TSX dividend-growth stocks at discounted prices for a self-directed Tax-Free Savings Account (TFSA) or Registered Retirement Savings Plan (RRSP).
Enbridge
Enbridge (TSX:ENB) trades near $49 per share at the time of writing compared to $59 at the high point two years ago before the Bank of Canada and the U.S. Federal Reserve started to aggressively raise interest rates to get inflation under control.
Enbridge uses debt to finance part of its growth initiatives, so the jump in borrowing costs can reduce profits while cutting into cash that can be paid out as dividends. Inflation is trending lower, and economists broadly expect the central banks to start cutting interest rates in the second half of 2024. Once that happens, Enbridge could get a nice…
