Build a Lucrative Passive-Income Portfolio With $50,000

You can rely on these two top Canadian dividend stocks to generate dependable passive income for years to come.

| More on:
Concept of multiple streams of income

Source: Getty Images

Do you have $50,000 and a goal of turning it into consistent, reliable income? You don’t need to wait for retirement or rely on luck because the tools to build lasting wealth and monthly cash flow are already available on the TSX. By investing in the right mix of dividend-paying stocks with strong fundamentals, you could create a passive-income portfolio that works for you — month after month and year after year.

In this article, I’ll talk about two of Canada’s most dependable stocks that could help you turn $50,000 into a powerful income-producing machine.

Enbridge stock

So, let’s kick things off with a top Canadian energy stock, Enbridge (TSX:ENB), that truly lives up to the idea of steady income and staying power. Based in Calgary, this is one of Canada’s most dependable dividend stocks that transports oil and natural gas through an extensive pipeline network.

Currently, ENB stock trades at $63.44 per share with a market cap of $137.8 billion, and it offers a solid annualized dividend yield of nearly 6% — with payouts coming in quarterly. While the broader market has had its ups and downs, Enbridge stock has quietly climbed over 30% in the last year.

In 2024, the company’s adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) rose 13% YoY (year over year) to a record $18.6 billion. A big part of this growth came from its acquisition of three U.S. gas utilities with a $19 billion deal that boosted its scale and cash flow.

On top of that, Enbridge brought $5 billion worth of new projects into service in 2024 and sanctioned another $8 billion in future developments. From expanding its Gulf Coast energy infrastructure to securing long-term solar and wind contracts with companies like Amazon and Toyota, it’s setting itself up to stay relevant and profitable in the years to come. That’s why, for anyone looking to turn $50,000 into passive income, ENB stock offers the kind of stability and scale that’s hard to beat.

Created with Highcharts 11.4.3Enbridge + Bank Of Nova Scotia PriceZoom1M3M6MYTD1Y5Y10YALLwww.fool.ca

Scotiabank stock

Another dependable Canadian stock you can consider for building your passive-income portfolio is Bank of Nova Scotia (TSX:BNS), or Scotiabank. With a market cap of $86.5 billion, this is currently the fourth-largest bank in Canada, offering everything from everyday banking to wealth management and international financial services.

After surging by 11.4% over the last nine months, BNS stock currently trades at $69.68 per share and offers a juicy annualized dividend yield of 6.1%, paid quarterly — making it a solid pick for income-focused investors.

COMPANYRECENT PRICEINVESTED MONEYNUMBER OF SHARESDIVIDEND PER SHAREPAYOUT FREQUENCYTOTAL ANNUAL PAYOUT
Enbridge$63.44$25,000394$0.9425Quarterly$1,485
Bank of Nova Scotia$69.68$25,000358$1.060Quarterly$1,518
Total Annual Payout$3,003
Prices as of Mar 25, 2025

In its latest quarter ended in January, Scotiabank’s adjusted net profit rose 6.8% YoY to $2.36 billion. This increase was driven by strength in its wealth and capital markets divisions, along with higher net interest income.

The bank is consistently making efforts to simplify its international operations while sharpening its focus on North America. These efforts, along with its strong dividend, make Scotiabank a steady pick for long-term income.

John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Fool contributor Jitendra Parashar has positions in Amazon and Enbridge. The Motley Fool recommends Amazon, Bank Of Nova Scotia, and Enbridge. The Motley Fool has a disclosure policy.

More on Dividend Stocks

Electricity transmission towers with orange glowing wires against night sky
Dividend Stocks

Is Fortis a Buy?

Although Fortis is one of the most popular dividend growth stocks on the TSX, is it the best stock to…

Read more »

woman looks out at horizon
Dividend Stocks

2 Dividend Stocks to Buy for Lifetime Income

These dividend stocks have the potential to deliver you a lifetime of passive income!

Read more »

A glass jar resting on its side with Canadian banknotes and change inside.
Dividend Stocks

3 Stocks to Calm Your Fears About Running Out of Money in Retirement

Do you want to avoid running out of money in retirement? Here's a trio of options that can help keep…

Read more »

cautious investors might like investing in stable dividend stocks
Dividend Stocks

3 No-Brainer Canadian Stocks to Buy With $7,000 Right Now

These Canadian stocks offer solid growth and income potential, making them no-brainer investments for the long term.

Read more »

dividend growth for passive income
Dividend Stocks

TFSA Passive Income: 2 TSX Dividend Stocks to Hold for Decades

These top TSX dividend stocks have increased their distributions annually for decades.

Read more »

A close up color image of a small green plant sprouting out of a pile of Canadian dollar coins "loonies."
Dividend Stocks

The Best Dividend Stocks I’d Buy Right Now

These Canadian dividend stocks are likely to pay and increase their dividends in the coming years, making reliable investments.

Read more »

iceberg hides hidden danger below surface
Dividend Stocks

A Dividend Stalwart Every Canadian Should Own in a TFSA

Royal Bank of Canada (TSX:RY) is a top dividend titan that's worth buying even at these highs.

Read more »

monthly calendar with clock
Dividend Stocks

TFSA Cash Machine: 2 Monthly Payers You’ll Want to Own in 2025 and Beyond

Building a TFSA cash machine is easier when you choose companies that pay monthly and have room to grow --…

Read more »