Hillcrest Energy Technologies. (CSE: HEAT)
From concept to commercialization, Hillcrest is investing in the development of energy solutions that will power a more sustainable and electrified future.
If you focus on speculative or overly volatile stocks, accumulating wealth through the stock market can be risky. For conservative investors with a lower risk tolerance, Canadian blue-chip stocks provide a more stable and reliable approach.
Many blue-chip stocks also regularly distribute dividends to investors, making them an excellent choice for those seeking stable income as well as long-term capital appreciation potential. This is one of the main reasons conservative investors should consider adding some blue-chip stocks to their portfolios. This article will explore two top Canadian blue-chip stocks that can help investors accumulate enduring wealth over decades.
The first Canadian blue-chip stock is TC Energy (TSX: TRP), with a market capitalization of $71.5 billion, making it one of Canada’s largest energy infrastructure companies. For conservative investors seeking investment stability and reliable income, this stock could be a top choice.
TC Energy shares have risen more than 46% this year, significantly outperforming the broader market, where the Toronto Stock Exchange Composite Index increased by 22%. Currently, the company’s stock price is $68.91 per share, with an attractive annual dividend yield of 4.8%.
TC Energy’s strong growth prospects further enhance the stock’s appeal for long-term investors. At a recent Investor Day event in 2024, the company outlined several key initiatives that could accelerate growth in the coming years. For instance, it announced four new projects with total capital expenditures of $1.5 billion. Given these positive developments, TC Energy could continue to generate reliable returns for investors in the years ahead.
The second Canadian blue-chip stock is Bank of Nova Scotia (TSX: BNS), which is worthy of immediate purchase and long-term holding for Canadian investors. Bank of Nova Scotia’s stock has increased nearly 21% year-to-date, currently trading at $77.80 per share, with a market capitalization of $96.8 billion. At this market price, the annual dividend yield is 5.5%.
The bank reported robust adjusted net income of $8.63 billion for fiscal 2024, reflecting a steady 3.2% increase from the previous year. This growth is attributed to increased revenues from its Canadian and international banking sectors, as well as strict cost management.
In addition to its solid track record of increasing dividends, the bank’s strategic focus on strengthening its major markets in North America and driving profit growth makes this stock a safe blue-chip option for Canadian investors.
