Rebecca Teltscher’s Top Canadian Dividend Stocks for September 2024
Rebecca Teltscher’s Top Dividend Stock Picks: Navigating Volatile Markets with Long-Term Growth and Income
Editorial Team (ET)October 2, 2026
In the ever-evolving financial landscape, portfolio managers like Rebecca Teltscher of Newhaven Asset Management continue to make strategic investment decisions. Her focus remains on Canadian dividend stocks—an asset class known for its stability and income generation. Today, we explore her top picks for September 5, 2024, as well as her broader market outlook.
Market Outlook
The past few months have been turbulent for the global economy. Economic data has increasingly pointed toward a slowing economy, with markets reacting in waves. August 2024 brought heightened anxiety as fears of a recession dominated the conversation. Employment numbers showed weakness, with falling job openings indicating trouble ahead. But these same weaknesses have sparked optimism in other corners—most notably, the likelihood of a rate cut this September.
While some fears of a hard landing have eased, Teltscher remains cautious. She believes there’s a notable disconnect between the stock market’s performance and the broader economy’s health. With volatility likely to persist, her strategy leans toward defensive plays, particularly dividend-paying stocks. By focusing on companies with solid long-term prospects, she aims to endure periods of negative market sentiment while benefiting from income through dividends.
Rebecca Teltscher’s Investment Strategy
Rebecca Teltscher’s investment philosophy revolves around caution and defense in uncertain times. By concentrating on dividend-paying companies with robust long-term prospects, she ensures that even during market downturns, her portfolio continues to generate income. The ability to collect dividends allows her to mitigate the impact of market fluctuations and reduces the reliance on capital appreciation for returns.
Now, let’s dive into her top picks for September 2024.
Top Pick #1: Brookfield Renewable Partners (BEP.UN TSX)
Brookfield Renewable Partners is a cornerstone of Teltscher’s portfolio. In May 2024, Brookfield and Microsoft announced the largest corporate clean energy deal in history, with Brookfield Renewable set to deliver 10.5 GW of wind and solar power to Microsoft by 2030. This partnership not only cements Brookfield’s place as a leader in renewable energy but also paves the way for future corporate power purchase agreements (PPAs).
The project is expected to increase Brookfield’s total power generation capacity by nearly one-third. With technology companies increasingly needing large amounts of energy to run AI and data centers, clean energy solutions like those Brookfield offers are becoming indispensable.
Brookfield’s growth potential in the renewable energy sector is immense. As corporations push for sustainability, Brookfield stands to benefit from long-term contracts, ensuring stable cash flow and future growth. The demand for clean energy is only set to increase, making this stock a strong long-term play.
Top Pick #2: TC Energy (TRP TSX)
TC Energy operates essential natural gas and oil pipelines, as well as power generation infrastructure throughout North America. Despite a recent uptick in share prices, TC Energy’s valuation remains at a 15-year low. Its dividend yield of over six percent makes it an attractive pick for income-seeking investors like Teltscher.
What sets TC Energy apart is its stable earnings. With 97 percent of its EBITDA underpinned by rate regulation and long-term contracts, the company provides consistent cash flow. Moreover, TC Energy transports 30 percent of North America’s natural gas demand, positioning it as a critical player in the continent’s energy infrastructure.
Stability of Earnings and Growth in Natural Gas Demand As natural gas continues to play a central role in North America’s energy transition, TC Energy’s strategic assets place it in a prime position. With long-term demand for natural gas rising, the company’s growth outlook remains bright, ensuring both capital appreciation and dividend stability.
Top Pick #3: Telus (T TSX)
Telus, one of Canada’s leading telecommunications companies, has seen its shares negatively impacted by high interest rates and competitive pressures. However, Teltscher sees opportunity here. With a current dividend yield of 6.7 percent and defensive market characteristics, Telus is positioned to weather economic slowdowns.
The company is also well ahead in its fiber-to-the-home (FTTH) buildout, which should attract more subscribers and reduce future capital expenditures. While the competitive landscape in telecommunications is fierce, Telus is expected to outperform in the medium term as it capitalizes on its technological edge.
Future Outlook for Telus
Canada’s population growth, driven by immigration, continues to boost demand for telecom services. Telus provides essential services—mobile and internet—that remain in high demand even during economic downturns. With stable earnings, a solid dividend, and a competitive edge in infrastructure, Teltscher sees Telus as a solid defensive play in 2024.
Conclusion
Rebecca Teltscher’s top picks for September 2024 reflect a strategy centered on defensive investments with long-term growth potential. Brookfield Renewable Partners, TC Energy, and Telus all offer robust dividend yields that provide consistent income, especially during periods of market volatility. As the market grapples with potential economic turbulence, these companies offer stability and security, making them ideal picks for investors seeking solid returns.
