Unfortunately it is not so simple... If you are closer to retirement I think it should be fine to hold some dividend stocks though if they are Canadian stocks and in RRSP you will  loose the tax advantage. If they are in taxable account and you do not like them anymore you may have to pay capital gains if you sell them. If you are not close to retirement and have a job you will pay tax on dividends though Canadian dividends have an advantage. Also in the taxable account the Canadian dividends  increase your total income and may affect your OAS or GIS. Anyway in the long term I doubt that any dividend grow stock (including the dividend) may beat the index .