Mostly, retirees look to the Canadian stock market for stocks that can supplement their pensions with inflation-adjusted dividends. But who says only retirees can invest in them? Your investing strategy depends on your financial requirements.
Everyone’s situation is different. For instance, gig workers and small business owners have uneven cash flow. They could preserve the significant cash inflow they receive from client payments for their daily expenses. A salesperson could convert his large bonus into a new source of passive income. Depending on your situation, you can invest in growth or dividend stocks.
Three Canadian stocks for long-term dividend investing
If long-term dividend investing is your strategy, you need stocks that have a long history of paying and growing dividends regularly. Thankfully, Canada has many such stocks listed on the TSX.
goeasy stock
Non-prime lender goeasy (TSX:GSY) is often known for growth, but it also has a long dividend-paying history of 22 years, during which it has grown dividends in 15 years. In the second quarter of 2025, goeasy received a record volume of loan applications, up 23% year-over-year. The growing demand for loans increased its loan portfolio by 9% to $5.1 billion.
The yield on this loan portfolio fell to 31.8% from 33.9% a year ago due to growth in low-margin secured loan products and the new 35% interest rate cap implemented on January 1, 2025. While the yield fell, risk was diluted as the net charge-off rate fell to 8.8% from 9.3% a year ago. All this points to signs of recovery in loan demand, which drove the stock up 29% since April 1, 2025.
goeasy has increased its dividend by an average of 30% annually and can continue doing so. It grows dividends by increasing the loan portfolio and passing on the net interest income to shareholders through dividends and share buybacks.
A $10,000 investment in goeasy in January 2015 would have earned $224 in annual dividends. That dividend amount has grown to $3,270 in 2025 due to a 30% dividend compounded average growth rate (CAGR).
Canadian Natural Resources
Canadian Natural Resources (TSX:CNQ), although an oil and gas producer, has managed to grow dividends annually for 24 years in a row. Behind this consistent growth is the cost advantage it has over peers and the low maintenance of oil sands reserves. The company manages its cash flow by changing its product mix between West Texas Intermediate (WTI) crude, synthetic crude, and liquified natural gas.
IThe energy producer manages the mix in a way that the realized cash flow pays for dividends and maintenance. Also, it accelerates debt repayments and reduces the percentage of free cash flow allocated to shareholder returns until the net debt is reduced to $12 billion. This strategy keeps debt and dividends in check. Cash flows are falling as crude prices drop, but they are at a comfortable level to sustain current dividends.
A $10,000 investment in Canadian Natural Resources in January 2015 would have earned $255 in annual dividends. This sum has grown to $1,302 in 2025 due to a 22% dividend CAGR.
CT REIT
CT REIT (TSX:CRT.UN) is another stock for long-term dividend investing because of its low-risk business model compared to its peers. The REIT is a spin-off of Canadian Tire and earns 90% of its rent from the retailer. It has the first right to acquire, develop, and intensify Canadian Tire stores, which gives it assured occupancy and better rates. This advantage of assured rent has helped CT REIT grow its distributions by a 3% CAGR for the last 10 years.
A $10,000 investment in CT REIT in January 2015 would have earned $513 in annual dividends. It has now grown to $734 in 2025 due to a 3% dividend CAGR.
