Canadian retirees love to receive income from TSX dividend stocks. Why is that? Eligible Canadian dividend income is taxed at lower rates. Let’s say you’re getting a yield of 5% from interest income and also yielding 5% from a TSX stock generating eligible Canadian dividends. You get to keep more money in your pocket for the latter. That said, investments (such as traditional guaranteed investment certificates and bonds) that provide interest income are typically lower risk than stocks.
Within the world of TSX dividend stocks, retirees can handpick ones that provide the safety and income they need. Here are two of my top picks for steady income today.
Bank of Nova Scotia stock yields 6.5%
Please allow me to be crystal clear here. Bank of Nova Scotia (TSX:BNS), or Scotiabank, stock is not the lowest-risk big Canadian bank stock to own. Its risk is illustrated in its stock price action compared against its peers through the BMO…
