Source: Getty Images <\/p>\n
Written by Joey Frenette<\/a> at The Motley Fool Canada<\/p>\n The top dividend icons of the TSX Index are worth sticking with, even as the TSX Index becomes a tad overheated, overbought, and maybe overdue for a bit of a steep pullback. Undoubtedly, when it comes to top-tier dividend players, I think investors should seek to hang onto them for more than five years. Of course, when you factor in the dividend growth, investors<\/a> may very well be setting themselves up for a nice income stream going into (early) retirement. Of course, it\u2019s going to be tough for the TSX Index to top or match the gains of 2025.<\/p>\n Though there\u2019s still probably more room to run after an impressive 27.4% annual gain, I would reset my expectations and gravitate more towards the less-appreciated, lower-cost dividend stocks, especially the ones that investors have given up on. In this heated market, you don\u2019t have to look too far for performance, but ditching last year\u2019s laggards, especially the ones that continue to pay rich dividends, for the high-momentum heroes, I think, might be a strategy that yields results that are less than stellar in the new year.<\/p>\n So, whether you\u2019re looking for ideas for your next TFSA contribution or you\u2019re serious about rotating out of overbought names that might be at greater risk of a decline, the following pair of iconic dividend stocks, I think, has what it takes to do well despite their market-trailing past year of returns. Where some see \u201cdead money,\u201d others see an opportunity to get more for less. And in the case of these names, I must say the risk\/reward is starting to get enticing.<\/p>\n It was quite a turbulent year for the renewable stocks, and Brookfield Renewable Partners (TSX:BEP.UN<\/a>) shares were certainly not spared from the wild volatility. With shares back in correction territory, now down more than 16% from those November 2025 highs, I think it\u2019s time to start thinking about initiating a position as shares approach a level of support close to $35 per share. Today, the dividend yield is now sitting at a bountiful 5.7%. And it\u2019s a payout that looks primed for further growth as the firm moves ahead with various wind and solar projects.<\/p>\n Of course, buying dips can be tricky, especially if the rest of the market is running higher. Either way, I think you\u2019re getting a great deal at today\u2019s multiples, with shares trading at 1.2 times price-to-sales (P\/S) or 2.2 times price-to-book (P\/B).<\/p>\n Northland Power (TSX:NPI<\/a>) stock seems to have settled a bit since shares fell off a cliff back in November following a surprise dividend cut that few saw coming. Undoubtedly, nobody wants to see their payout be reduced, but the 30% decline, I think, was overdone and could present an opportunity for investors who care more about value than yield. The company\u2019s latest Investor Day was pretty solid and outlined growth initiatives that I think should renew investor enthusiasm.<\/p>\n Sure, a smaller payout is never great, but given there are better ways to put the cash to work, I\u2019d not give up on the name, as it seeks capital expenditures north of $6 billion in the next five years. As Northland returns to the growth track, perhaps income investors with a long-term horizon may wish to forgive the name for the dividend reduction. In my view, Northland is still an iconic dividend value<\/a> pick, even if it\u2019ll take a while for investors to move on from a horrid 2025.<\/p>\n The post Don\u2019t Bet Against Canada\u2019s Top Dividend Icons Going Into the New Year<\/a> appeared first on The Motley Fool Canada<\/a>.<\/p>\n Before you buy stock in Brookfield Renewable Partners L.P., consider this:<\/p>\n The Motley Fool Stock Advisor Canada analyst team identified what they believe are the 15 best stocks for investors to buy now\u2026 and Brookfield Renewable Partners L.P. wasn\u2019t one of them. The 15 stocks that made the cut could potentially produce monster returns in the coming years.<\/p>\n Consider MercadoLibre, which we first recommended on January 8, 2014 \u2026 if you invested $1,000 in the \u201ceBay of Latin America\u201d at the time of our recommendation, you\u2019d have $21,105.89!*<\/p>\n Now, it\u2019s worth noting Stock Advisor Canada\u2019s total average return is 95%* \u2013 a market-crushing outperformance compared to 72%* for the S&P\/TSX Composite Index. Don\u2019t miss out on our top 15 list, available when you join Stock Advisor Canada.<\/p>\n See the 15 Stocks<\/a><\/p>\n * Returns as of November 17th, 2025<\/p>\n More reading<\/p>\n Fool contributor Joey Frenette<\/a> has no position in any of the stocks mentioned. The Motley Fool recommends Brookfield Renewable Partners. The Motley Fool has a disclosure policy<\/a>.<\/p>\n 2026<\/p>\n","protected":false},"excerpt":{"rendered":"Source: Getty Images Written by Joey Frenette at The Motley Fool Canada The top dividend icons of the…\n","protected":false},"author":2,"featured_media":384778,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[125955,49,48,16988,18182,3235,44,82106,41512],"class_list":["post-384777","post","type-post","status-publish","format-standard","has-post-thumbnail","category-canada","tag-brookfield-renewable-partners","tag-ca","tag-canada","tag-dividend-stocks","tag-fool-canada","tag-investors","tag-news","tag-northland-power","tag-tsx-index"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/384777","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=384777"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/384777\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/384778"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=384777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=384777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=384777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}