By Jitendra Parashar at The Motley Fool Canada
For many people, the mid-40s are when retirement planning starts to look real. By then, many Canadians have built some healthy savings and are thinking about how to make that money work harder. According to Statistics Canada’s data, Canadians aged 45 to 54 held an average of $40,500 in Tax-Free Savings Accounts (TFSAs) and $173,500 in Registered Retirement Savings Plans (RRSPs) and similar accounts in 2023. While those savings can give you a solid foundation, quality Canadian dividend stocks could help them grow even more over time.
In this article, I’ll highlight two dividend-paying Canadian stocks that deserve a closer look for retirement-focused investors.
National Bank stock
If you’re trying to build retirement savings that can keep growing for decades, National Bank of Canada (TSX:NA) could be an attractive stock to start with.
Being one of Canada’s largest financial institutions, National Bank serves individuals, businesses, governments, and institutional clients through personal banking, wealth management, capital markets, and international operations. Its stock has rewarded shareholders with impressive gains lately. After climbing 66% over the last year, NA stock now trades at $234.34 per share with a market cap of $90 billion. Currently, it offers a 2.2% annualized dividend yield.
Its recent stock rally could mainly be attributed to the bank’s solid financial growth trends. In the second quarter of its fiscal 2026 (ended in April), National Bank’s net income jumped 38% year-over-year (YoY) to $1.2 billion, while its diluted earnings rose 41% from a year ago to $3.06 per share.
Last quarter, National Bank benefited from strong contributions across all business segments and lower provisions for credit losses. Its wealth management segment posted 18% YoY earnings growth, while personal and commercial banking also delivered higher profits as loan and deposit volumes continued to expand.
Recently, National Bank also raised its quarterly dividend by 6% to $1.32 per share, extending its record of rewarding shareholders. At the same time, the bank continues to benefit from synergies related to the Canadian Western Bank acquisition and expects further growth opportunities from the planned Laurentian Bank retail and business banking transaction. That combination of earnings growth, dividend increases, and expansion makes National Bank an attractive stock for investors focused on building retirement wealth.
Restaurant Brands stock
Another stock that could help long-term investors grow retirement savings is Restaurant Brands International (TSX:QSR).
It owns many well-known brands, including Tim Hortons, Burger King, and Popeyes. QSR stock currently trades at $108.29 per share with a market capitalization of $37.6 billion while offering an attractive 3.5% annualized dividend yield. Over the last year, its shares have gained 16%, reflecting investor confidence in its business model despite macroeconomic uncertainties.
Restaurant Brands started 2026 on a strong note as its system-wide sales rose 6.2% YoY in the first quarter, while comparable sales improved 3.2%. As a result, the company’s net profit from continuing operations nearly doubled to US$445 million, helped by stronger sales, improved operating performance, and a lower tax expense.
Moreover, Restaurant Brands continues to invest in future growth. Its subsidiary Burger King is continuing to improve its restaurants through its multi-year Reclaim the Flame plan, while the company’s international business delivered 11.1% system-wide sales growth in the latest quarter.
That strong mix of global expansion, shareholder returns, and steady earnings growth makes Restaurant Brands an appealing long-term stock for TFSA and RRSP investors.
The post The Average TFSA and RRSP for a 45-Year-Old Canadian appeared first on The Motley Fool Canada.
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Fool contributor Jitendra Parashar has no position in any of the stocks mentioned. The Motley Fool recommends Restaurant Brands International. The Motley Fool has a disclosure policy.
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