Buying and holding for the ultra-long haul can be a fantastic strategy, provided you pick and choose solid businesses that are going for modest prices at the time of purchase.

As the new year begins, Canadian investors should think about what to buy and watch. Undoubtedly, forming a shopping list of sorts can make sense before you look to put your 2025 TFSA (Tax-Free Savings Account) contribution to work come January. Indeed, if you're a big fan of dividend payers, you're in luck as we begin 2025, with some of the most generous dividend heavyweights now sporting yields that are well above their historical averages.

Indeed, if yield and deep value are what you seek, the Canadian stock market, I believe, has ample options as we kick off a new year and perhaps an extension in the run of the TSX Index. Of course, not all towering dividend yields will be immune from dividend cuts in the new year. And in this piece, we'll check out two dividend growers with payouts I believe to be safe.

CN Rail

It's been a while since CN Rail (TSX:CNR) shares sported a yield of 2.3%. Indeed, CN Rail stock has been a 2%-yielder for some time, but as the yield approaches 2.5%, I view the name as a bountiful dividend player that could grow its payout at a hefty rate every single year.

Indeed, I'd much rather have a 2.5%-yield dividend stock that can increase its payout in the ballpark of 9% each year rather than a 5%-yielder that may or may not hike the payout moving forward. And, of course, such names may even be served up with a dividend cut at some point down the road if things don't go their way. Either way, CN Rail is a dirt-cheap dividend-growth gem at 17.1 times trailing price to earnings (P/E).

With a fairly low 0.65 beta, which entails less market risk, you'll also have a smoother ride on the tracks compared to most other names on the TSX Index going into 2025. If value is what you seek, CNR stock is a deal while it's down nearly 20% from its highs. Even Chief Executive Officer Tracy Robinson has been picking up shares of late, something I pointed out in a prior piece covering CN Rail. While her performance as top boss has been less than ideal, and the underperformance could drag into 2025, I view such insider buying as notable.

Canadian Natural Resources

Canadian Natural Resources (TSX:CNQ) is pretty much the gold standard in the Canadian oil patch. At $43 and change, the 4.92%-yielding energy juggernaut ($91.8 billion market cap) looks interesting as shares sink into year's end. For the year, the stock has delivered 0% returns. With a mere 12.3 times trailing P/E ratio, I view the dividend payer as a magnificent value option, especially for those underweight energy names.

While the stock is going to be more turbulent (with a 1.88 beta) than your average play, I think such volatility will be rewarded for those committed to holding for at least five years. With dividend growth and a handsome payout to look forward to, I view the name as a great long-term core holding type of play.