Having a balanced portfolio means owning a variety of stocks. However, there’s no question that some of the best long-term investments you can make are in Canadian Dividend Aristocrats.
In general, most of the best long-term investments will be dividend growth stocks. And of all the dividend growth stocks, the ones that make the Dividend Aristocrat list are generally the best and most consistent.
And while these stocks are always great investments, when the market environment has as much uncertainty as it does today, they become even more attractive.
So if you’re looking to add some high-quality stocks to your portfolio and have the cash to invest, here are three of the smartest Canadian Dividend Aristocrats to buy right now.
A top financial stock
One of the best stocks to buy today — Canadian Dividend Aristocrat or not — is Manulife Financial (TSX: MFC)(NYSE: MFC). Manulife stock is extremely cheap in this environment, and with interest rates expected to rise in the short term, the financial services stock has the potential to see a considerable rally.
In the longer term, investors can expect Manulife to continue to grow its operations, especially in Asia. In addition, it’s also looking for the greatest cost efficiencies and wants to optimize its portfolio.
The Canadian stock, which has more than 30,000 customers worldwide and over $1.3 trillion in assets under management or administration is one of the best long-term stocks to buy in the financial sector.
And because it’s so cheap, now is the perfect time to take a position. Currently, its dividend yields 4.6%, an appealing amount. Plus, over the last five years, that dividend has been increased by over 50%.
So if you’re looking for a top Canadian Dividend Aristocrat to buy today, Manulife is a top stock to consider.
A top energy infrastructure stock
Another high-quality Canadian stock that would be a great investment today is Enbridge (TSX: ENB)(NYSE: ENB). The Canadian Dividend Aristocrat has an incredibly diverse and resilient business, making it ideal for this environment.
Furthermore, because it’s such an essential part of the North American economy and has a proven track record of managing its business through economic downturns, Enbridge is an excellent stock to own for the long run.
Enbridge transports roughly a quarter of all the oil produced in North America. Furthermore, it transports approximately 20% of all the gas consumed in the United States. It even has a rapidly growing clean energy portfolio, giving it a tonne of long-term growth potential.
The Canadian Dividend Aristocrat is so consistent that it has increased its dividend annually for over a quarter of a century. Today it yields more than 6.5% and has been increased by 57% over the last five years.
So if you’re looking for a smart Canadian Dividend Aristocrat to buy, Enbridge is a top choice.
One of the best Canadian dividend aristocrats
Last but not least, we have BCE (TSX: BCE)(NYSE: BCE), the massive Canadian telecommunications stock with a market cap north of $57 billion.
There aren’t many industries that are as defensive that offer as much long-term growth potential as telecommunications. And of all the telecommunications stocks you can buy, BCE is the most stable and best investment for dividend investors.
Because its business is so stable and it’s such an excellent dividend growth stock, BCE is a perfect company to buy for the core of your portfolio.
With the importance of telecommunications to our economy and the sector’s growth potential — especially as 5G technology rolls out — BCE is one of the best blue-chip stocks in Canada.
Today its stock pays a dividend that yields 5.5% and has been increased by over 25% in the last five years. So if you’re looking for a high-quality Dividend Aristocrat that can return you predictable passive income, BCE is one of the top Canadian stocks to buy today.
