(TFSA LIMIT INCREASED!!!!) ONE Canadian Dividend Stock To Buy Right Now

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The TFSA limitation for 2024 simply got increased to $7,000. Let's talk about a stock to purchase in your TFSA now – BNS, Bank of Nova Scotia, with the 7.55% dividend.


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(TFSA LIMIT INCREASED!!!!) ONE Canadian Dividend Stock To Buy Right Now

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About the Author: Richard Money


  1. Glad to see you re still talking about stocks and such, even if you are not active in actually buying anything yourself!

  2. Exporting the stable Canadian banking market to growing economies benefiting from nearshoring could play out well in the long-term

  3. Its always important to be aware of the market ignoring a very high yield. It is likely that the market believes that either the equity will grossly underperform such that the yield is a bad value proposition and or the market believes that the yield is unsustainable. Otherwise they would not allow the yield to remain that high .

  4. Honestly i look at Latin countries and i see growth
    Their demographics look good and they are emerging economies. I know these countries super well and i have faith in BNS

  5. Niceee. Most of my investments are in my TFSA, so the extra room will be great! I like keeping my dividend stocks in the TFSA rather than unregistered so that dividend income is not taxed 👌

  6. Great points here Brandon – I prefer TD and RY as well – I specifically hold TD and NA but all of the big Canadian banks are always worth considering 👍

  7. Bns and Ry are some of my biggest holdings. Handed down from my parents and will be handed down to my daughter when I’m done 🙏

  8. Thank you for sharing this great example. From my perspective I would rather keep buying what I believe to be top businesses globally and lets the markets go through these cycles especially when it comes to my retirement accounts. As for personal accounts I would definitely pay more attention to month 2 month + annual swings/news

  9. Banks in general will be at a sweet discount for a while. Unrealized losses ahead. Economy wont turn around for some time. No one’s taking out loans for big ticket items anymore. IMO theres better ways to play the market than be frustrated at negligible results for the next 6 months.

  10. I have 13 Canadian and 9 US stocks I own about 50K of BNS
    I sold 9 positions and I’m going to be buying ETFs with the proceeds
    I just took over from my portfolio manager who was charging ridiculous fees
    I probably join blossom

  11. I’ve been buying BNS since the covid lows. It’s been a wild ride the past three and a half years but I’m in agreement with you that in the long run 10+ years I will look back on these times and the only regret will be “Why didn’t I buy more?”

  12. Hmm. Every time I look at banks, BNS looks less enticing than the others, but that is a pretty sweet dividend. I own BMO and a Canadian bank ETF. All those past dips are easy to see as opportunities; the trick for me is to see the current dip as the same!

  13. I love your pick Brandon, I own all top 6 banks, my own version of ZEB, why bother paying an etf fee that holds 6 stocks. My weighting is almost equal, a bit less NA and a bit more TD.

  14. I believe all the banks are exposed to significant credit default risk in the current environment and that will weigh on their stock prices. The Canadian banks will survive but it may be a while before they thrive. I would prefer to dollar-cost-average into an ETF that invests in Canadian banks – rather than holding the stocks themselves.

  15. I own all Canadian banks indirectly via ETF. Directly I own BMO, RY. TD is on my watch list. My portfolio weighting to Financial sector is already high so I have been adding new dollars to other sectors to smooth out the concentration.

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