4 Canadian Dividend Stocks to Buy and Hold for the Next 20 Years

These dividend stocks can certainly stand the test of time, and have already done so for many investors.

Amy Legate-Wolfe

Author Bio

Amy became interested in investing in 2018 after having her first daughter. After receiving a masters degree in journalism from Western University, she became frustrated that the finance industry remained a confusing place for Canadians like her: new parents, millennials, and other young people who needed to understand their finances. Now, Amy focuses on tech companies and renewable energy for growth opportunities, coupling that with long-term investing strategies and equities. She also provides investors with a daily newsletter, Canada Stock Digest, for daily market updates. Her work can also be found at Canada's National Observer, where she writes on the business side of climate action. Before joining Motley Fool Canada, Amy wrote for major news organizations including HuffPost, CTVNews.ca, and CBC. When she’s not researching investing strategies, Amy’s time is pretty much monopolized by her two wild daughters, but in what little spare time she has she loves to do yoga, go on walks with her dog, and travel with her husband.

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Favorite Investment Quote

“October: This is one of the particularly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February.” – Mark Twain

Published May 7, 2025 8:45 pm EDT

| More on: FTTIVNSIASRU.UN

Building wealth over 20 years takes more than luck. It means choosing companies that can endure market cycles, pay consistent dividends, and adapt to long-term economic changes. Fortunately, the TSX offers several such options. Today we’ll look at four dividend stocks that check all the boxes, with solid cases for buy-and-hold investors who want to build a strong portfolio for the future.

dividend growth for passive income — Source: Getty Images

SRU

SmartCentres Real Estate Investment Trust (TSX:SRU.UN) is one of Canada’s most recognizable REITs, with a focus on retail and mixed-use developments. Its portfolio includes nearly 200 properties across the country, anchored by major tenants. The occupancy rate remains near 99%, showing just how stable its rental income is.

In 2024, SmartCentres brought in $953 million in revenue, and while net earnings fell to $236 million from the year before, it still supports an impressive annualized dividend of $1.85 per unit. That works out to a forward yield of about 7.3%, which is well above average. This kind of steady income is a gift to long-term investors looking to reinvest dividends or draw passive income. It also helps that the trust is pushing into mixed-use projects, like residential towers and retirement communities, helping it evolve alongside Canada’s changing real estate needs.

SIA

Sienna Senior Living (TSX:SIA) offers a different kind of real estate exposure. It operates long-term care and retirement residences across Ontario, British Columbia, and Alberta. As Canada’s population ages, demand for this kind of care is set to rise steadily over the next few decades. Sienna is well-positioned to benefit.

In 2024, the dividend stock brought in nearly $900 million in revenue, up nearly 14% year over year. It also improved its adjusted funds from operations by over 30%, which bodes well for dividend stability. SIA stock currently yields about 5.5%, with annual dividends of $0.94 per share. This isn’t just a bet on healthcare, it’s a bet on one of the most powerful demographic trends in the country. For investors with a long timeline, it’s hard to ignore.

IVN

Ivanhoe Mines (TSX:IVN) brings some excitement to the mix. While not a traditional dividend play, Ivanhoe is a world-class copper miner operating in the Democratic Republic of Congo. It owns and develops some of the richest copper deposits on the planet. In Q1 2025 alone, the company reported a net profit of $122 million and an adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $226 million. That’s backed by record copper output in April, with over 50,000 tonnes produced in a single month.

The long-term case for copper is very strong, everything from electric vehicles to wind turbines and grid upgrades depends on it. Ivanhoe offers exposure to that trend, and while it may not be a regular dividend payer now, it has the kind of cash flow that could support one in the future.

FTT

Finning International (TSX:FTT) rounds out the list with something a bit more grounded, literally. Finning is the world’s largest Caterpillar dealer, selling and servicing heavy equipment across Canada, South America, and the UK. Its customers come from essential sectors like mining, construction, and energy, so demand for its services tends to remain strong even when markets are shaky.

In 2024, Finning reported revenue of $10.1 billion, up 6% from the year before. It also delivered record free cash flow of $865 million and ended the year with a $2.6 billion equipment backlog. That’s a lot of business in the pipeline. Finning has paid dividends since 1970, offering a steady income stream for investors. Right now, the dividend yield sits around 2.8%, and the dividend stock has a history of annual increases. It’s a reliable pick with global operations and a clear growth plan.

Bottom line

If you’re building a portfolio with the goal of holding for 20 years or more, it’s important to think about more than just short-term gains. You want companies that are paying you to wait and that have room to grow. SmartCentres and Sienna give you dependable monthly or quarterly income, while Ivanhoe and Finning bring long-term expansion potential through essential industries. Together, these offer a solid mix of stability and upside.