The Canadian stock market continues to hover near record highs in June 2025, but investors are becoming more cautious. With geopolitical tensions on the rise, trade conflicts intensifying, and economic signals growing harder to interpret, the risk of a short-term sell-off seems real. But that doesn’t mean you need to panic. In fact, it may be the perfect time to get strategic by adding quality dividend stocks to your portfolio that could protect your capital and generate steady income, even if the broader market comes under pressure.
In this article, let’s look at two such reliable dividend stocks that could hold their ground and keep paying you, no matter what the market throws your way.
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Emera stock
The first unstoppable dividend stock on my radar is Emera (TSX: EMA), a utility firm that fits right into the kind of portfolio you’d want to hold onto when markets get rocky. It’s a Halifax-based energy-focused company that owns electric and gas utilities across Canada, the U.S., and the Caribbean.
After rallying 34% over the last year, EMA stock currently trades at $61.37 per share and has a market cap of $18.3 billion. On top of that, it offers an annualized dividend yield of 4.7%, with payouts arriving quarterly.
In recent years, Emera has increased its efforts to upgrade infrastructure and invest in cleaner energy. In the first quarter of 2025 alone, it invested over $700 million and remains on track to deploy $3.4 billion across the year. This spending is part of its long-term plan to modernize the grid, boost reliability, and support growing demand. During the quarter, the company’s adjusted earnings jumped 68% YoY (year-over-year) to $1.28 per share, supported by stronger results across its business units like Tampa Electric and Nova Scotia Power.
For long-term investors who want dependable income and a business that grows even in the background, Emera stock checks a lot of boxes.
Enbridge stock
And the second dividend stock that you can consider if markets turn shaky is Enbridge (TSX: ENB), a pipeline giant that keeps on delivering. As one of North America’s largest energy infrastructure companies, it helps move oil, natural gas, and even renewable power to where it’s needed.
And despite the tough economic backdrop, its financial results in the first quarter of 2025 looked strong. For the quarter, the company earned $2.2 billion in adjusted profit, reflecting a nearly 15% YoY increase. Similarly, it boosted its EBITDA (earnings before interest, taxes, depreciation, and amortization) by 18% from a year ago, reflecting strong profitability.
ENB stock currently trades at $62.41 per share and comes with a market cap of $135.9 billion. What makes it extra appealing for income-focused investors is its solid 5.9% annualized dividend yield. Over the last year, the stock is up nearly 30%, showing it has the potential to grow even when markets are volatile.
Last month, Enbridge reaffirmed its full-year guidance and has nearly $28 billion in secured projects to keep that growth going. For long-term investors, that kind of stability and reliable dividend income could go a long way.
