Pensioners and different passive-income buyers are looking for prime Canadian dividend shares to add to their portfolios. The general TSX Index appears overbought right now, so it is sensible to search out main dividend-growth shares that ought to maintain up properly when the market corrects.FortisFortis (TSX:FTS)(NYSE:FTS) is a Canadian utility firm with greater than $50 billion in belongings situated in Canada, the United States, and the Caribbean. Power manufacturing, electrical transmission, and pure fuel distribution won’t sound like thrilling investments, however passive-income buyers are looking for money move stability, not leisure.Fortis will get most of its income from regulated belongings. This means the corporate and its buyers have a fairly good concept of how a lot money move goes to come in every year. Homeowners and companies want to maintain the lights on and run their home equipment no matter world financial or geopolitical occasions.Fortis reported sturdy Q1 2021 outcomes and has a $19.6 billion capital program on the go that may drive the speed base up greater than 30% over 5 years. This is nice for dividend buyers who need to purchase shares with good steerage on money move progress. As the tasks are accomplished, Fortis expects money move to rise sufficient to assist common annual dividend will increase of 6% by way of 2025. (*2*) developments are into consideration. If these get added to the capital plan, the distribution hikes might be even greater.Fortis has raised the payout in every of the previous 47 years, so the steerage needs to be stable. Investors looking for passive revenue shouldn’t have to fear a couple of pullback in the market. Any drop in the share value needs to be seen as a chance to add to the place.Investors who purchase Fortis inventory right now can choose up a 3.6% yield. That’s decrease than another alternatives in the market, however you will have nice steerage on dividend hikes that may make up for the distinction over time.BCEBCE (TSX:BCE)(NYSE:BCE) is Canada’s largest communications agency with a market capitalization of $56 billion. The inventory is a long-time favorite amongst passive-income buyers for its beneficiant distribution and dependable dividend progress.Story continuesBCE enjoys a large aggressive moat, and its core income comes from companies that individuals are unlikely to surrender, even when instances get robust. A cell phone and web entry are thought of important companies lately. In addition, house safety is a rising enterprise for BCE, as folks need distant monitoring functionality and are utilizing extra smart-home merchandise.BCE continues to make investments in its fibre optic and 5G initiatives. This helps defend its aggressive place and opens up new income alternatives.The inventory is shifting greater in 2021, as buyers anticipate a rebound in the media enterprise. Lucrative roaming charges also needs to bounce again subsequent yr with enterprise and vacation journey anticipated to improve. Despite the rally over the previous 4 months, BCE inventory nonetheless trades under its pre-pandemic value.Investors who purchase the shares on the time of writing can choose up a 5.6% dividend yield.The backside line on passive-income investingFortis and BCE are prime Canadian dividend shares that needs to be good picks proper now for a passive-income portfolio. An equal funding between the 2 would supply a mean yield of 4.6%. That’s a lot greater than any GIC and also you profit from the annual improve to the payouts.The publish Passive-Income Investors: 2 Top Dividend Stocks to Buy in July appeared first on The Motley Fool Canada.We’re Issuing a BUY Alert on this TSX Space StockOur crew of diligent analysts at Motley Fool Stock Advisor Canada has recognized one little-known public firm based proper right here in Canada that’s on the cutting-edge of the house business and just lately accomplished a transformational acquisition, all whereas making a good-looking revenue in the method!The better part is that in a market the place many shares are promoting at all-time-highs, this inventory is buying and selling at what appears like a VERY cheap valuation… for now.Click right here to be taught extra about our #1 Canadian Stock for the New-Age Space RaceMore studyingThe Motley Fool recommends FORTIS INC. Fool contributor Andrew Walker owns shares of Fortis and BCE.2021
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2 Top Dividend Stocks to Buy in July
