If you’ve got $5,000 to invest and want to put it to work in quality Canadian equities, choosing solid names with durable business models and long-term potential is key. Rather than chasing hot picks or timing short-term swings, allocate your capital across companies with stable cash flows, market leadership, and growth catalysts — the kind that can help your investment compound over years.
1) Bank of Nova Scotia (TSX: BNS)
Scotiabank is among Canada’s largest and most diversified banks, with significant operations not just domestically but also in international markets, particularly in Latin America and the Caribbean. This diversification helps smooth earnings through economic cycles. The bank pays a healthy dividend, and its earnings base — driven by lending, wealth management, and commercial banking — supports sustained payouts. With strong capital ratios and disciplined risk management, BNS offers both income and long-term growth, making it a good candidate when deploying a $5,000 starting position.
2) Canadian National Railway (TSX: CNR)
Canadian National is a premium pick for investors who want exposure to transportation infrastructure and economic growth. Rail freight remains a backbone of commerce across North America, moving everything from industrial inputs to finished goods. CN’s pricing power, extensive network and free cash flow generation enable dividend growth and share buybacks, which help drive total shareholder returns. Its long-term alignment with economic activity makes it a strong choice when building a diversified $5,000 position.
3) Enbridge Inc. (TSX: ENB)
Enbridge owns one of the largest energy infrastructure networks in North America, providing pipeline and utility services with fee-based revenue that’s less sensitive to commodity prices than pure producers. Its dependable cash flows underpin an above-average dividend yield, which can act as a compelling income component within your portfolio. With ongoing investment in energy infrastructure and long-term contracts, Enbridge offers both defensive stability and income potential.
Also Read: Top Canadian tech AI stocks
How to Think About Your Allocation
With $5,000, you don’t need to go all-in on one name. You could split your capital across these three stocks to gain exposure to different parts of the Canadian economy — financials, transportation, and energy infrastructure. This mix can help reduce single-company risk while offering dividends and growth potential over time.
Also Read: Dividend paying stocks Canada
Practical tip: Hold these in a TFSA if possible, so dividends and any future gains remain completely tax-free. Reinvest dividends where possible to accelerate compounding.
For investors looking to put $5,000 to work in dependable Canadian stocks right now, Bank of Nova Scotia, Canadian National Railway and Enbridge offer a balanced blend of income, durability, and long-term upside.
Sign Up For our Newsletters to get latest updates
