Everybody needs to spend their post-retirement life with out monetary worries. However to attain that objective, you need to ideally begin planning to your retirement as early as doable. When you’ve got wherever between 20 and 30 years earlier than retirement, you continue to have the chance to start out investing within the inventory market and see your wealth multiply over the long run.

Nevertheless, when investing within the inventory marketplace for retirement planning, just be sure you’re not taking pointless dangers and investing all of your hard-earned financial savings in some essentially weak penny shares with expectations to be tremendous wealthy in a single day. As a substitute, it could possibly be safer to select some financially sturdy large-cap shares that reward their buyers with wholesome dividends even in tough financial environments. These dividends can act as a dependable supply of passive earnings for you after you’ve retired.

On this article, I’ll discuss two such large-cap Canadian dividend shares you should buy now and maintain for years to return.

Financial institution of Nova Scotia inventory

Whether or not you’re investing for retirement planning or attempting to create a dependable supply of additional earnings from dividends to satisfy your monetary wants, Financial institution of Nova Scotia (TSX:BNS) may show to be an incredible Canadian dividend inventory so as to add to your portfolio. It’s at the moment the fourth-largest Canadian financial institution based mostly on its market cap of $78.1 billion, as its inventory trades at $65.57 per share with a minor 1.2% year-to-date decline. BNS inventory gives a horny 6.5% annualized dividend yield at this market worth.

Scotiabank’s long-term monetary progress tendencies look spectacular, as its income grew by 15.7% to $31.4 billion within the 5 years between 2017 and 2022. Regardless of going through coronavirus-related challenges in between, its adjusted earnings throughout the identical 5 years interval noticed a 30% enhance to $8.50 per share.

Moreover its sturdy financials, Scotiabank’s geographically diversified publicity, key concentrate on digital banking, and persistently rising market share in strategically key markets make its inventory price contemplating for dividend earnings.

BCE inventory

BCE (TSX:BCE) could possibly be one other welcome addition to your retirement portfolio, particularly should you’re on the lookout for secure shares to create a supply of passive earnings. The Canadian communications big at the moment has a $55.2 billion market cap as its inventory trades at $61.08 per share after gaining 2.7% yr so far. On the present market worth, the inventory gives a 6.3% annualized dividend yield.

A few of the key components that make BCE inventory secure are its giant scale and well-diversified income streams, together with product segments like wireline broadband and TV, wireline voice, wi-fi, and media. The biggest Canadian communications firm additionally has a robust monetary place that helps it generate sustainable returns for its loyal buyers. Moreover that, its nice observe report of accelerating dividends makes it stand out. Notably, BCE raised its dividend per share by 28% within the 5 years between 2017 and 2022.

As BCE continues to strengthen its 5G footprints throughout Canada, you possibly can anticipate its monetary progress to enhance additional, which ought to assist its monetary progress advance additional within the coming years and its share costs rise.