If 2026 turns uneven, a Tax-Free Financial savings Account (TFSA) wants a little bit extra technique than “purchase no matter seemed good final yr.” Volatility can tempt you to commerce an excessive amount of, and that normally backfires in a long-term account. As a substitute, search for a inventory that may hold incomes even when headlines change on daily basis. In a TFSA, consistency issues as traders need to keep away from massive drawdowns that may take years to recuperate. Dividends assist, however provided that the enterprise will pay them with out stretching. So, let’s take a look at one to contemplate on the TSX at the moment.
DNG
Dynacor Group (TSX: DNG) is just not a family title, which is a part of the attraction. It runs a gold ore processing enterprise in Peru, the place it buys ore from artisanal miners and processes it at its Veta Dorada plant. Then it sells gold and captures a margin on that processing and buying and selling cycle. It operates extra like a cash-flow enterprise than a standard miner that should gamble on drilling success. That may really feel comforting in a yr the place traders would possibly overreact to each macro headline.
During the last yr, a very powerful theme has been momentum plus growth. In its third-quarter (Q3) 2025 replace, it reported file quarterly gross sales and file earnings earlier than curiosity, taxes, depreciation, and amortization (EBITDA), even after coping with two weeks of street blockades in July. It confirmed it may hold working by means of real-world disruptions, which is strictly what you need in a uneven yr. It additionally saved pushing its progress plan ahead as a substitute of simply speaking about it.
Then January introduced the sort of replace that tends to wake the market up. It mentioned it beat 2025 gross sales and manufacturing steerage, and laid out an even bigger 2026 outlook. It additionally highlighted progress on worldwide growth, together with a Senegal pilot plant that it expects to begin processing ore in early Q2 2026, plus early-stage discussions tied to Ghana. Whereas a single-asset story at all times carries focus threat, growth can cut back it over time.
Earnings help
Now the numbers. In Q3 2025, it reported gross sales of US$100.5 million, internet earnings of US$5.5 million (US$0.13 per share), and EBITDA of US$9 million. These outcomes confirmed respectable profitability even when operations confronted interruptions. For the total yr 2025, it reported file gross sales of US$397.6 million and gold-equivalent manufacturing of 113,791 ounces, with a median realized worth of US$3,494 per gold ounce bought. That’s a powerful combo: extra quantity, sturdy pricing, and earnings you’ll be able to truly measure.
The 2026 outlook is what makes this fascinating for a TFSA in a bumpy market. It guided for gross sales of US$530 million to US$580 million, manufacturing of 125,000 to 135,000 gold-equivalent ounces, and internet earnings of US$22 million to US$26 million. That may be a significant step up from 2025, and it suggests administration sees actual demand for its providers and capability. If it hits these targets, it might probably hold funding dividends whereas nonetheless investing in progress tasks.
Valuation helps seal the “uneven yr” case, as you aren’t paying a premium a number of for a scorching narrative. The inventory trades at simply 12.3 instances earnings, providing up a 2% dividend. That’s not a large yield, however a pleasant bonus whenever you pair it with a low-looking a number of and an organization that simply raised its progress ambitions. The danger, in fact, is that this enterprise nonetheless relies on gold costs, provide of ore, and clean operations in Peru, so you don’t deal with it like a regulated utility. Nonetheless, right here’s what even $7,000 may herald by means of dividends alone.
| COMPANY | RECENT PRICE | NUMBER OF SHARES | ANNUAL DIVIDEND | ANNUAL TOTAL PAYOUT | FREQUENCY | TOTAL INVESTMENT |
|---|---|---|---|---|---|---|
| DNG | $6.26 | 1,118 | $0.16 | $178.88 | Month-to-month | $6,998.68 |
Backside line
So, may it’s a purchase for others? Actually, if you would like a smaller Canadian title with a transparent enterprise mannequin, seen targets for 2026, and a valuation that doesn’t require excellent sentiment. It may well additionally match if you happen to like the thought of getting paid whereas it executes, while not having a roaring bull market to make the mathematics work. Nevertheless, if you would like a pure “sleep-at-night” blue chip, this would possibly really feel too area of interest, and nation threat plus gold volatility can nonetheless create surprises. When you can deal with these trade-offs, it’s a fairly compelling TFSA candidate for a uneven 2026.