3 Canadian Stocks You Can Buy Today and Hold Forever

If you’re looking for stocks to buy once and never worry about again, three Canadian stocks stand out for reliability, dividend strength, and ability to thrive through thick and thin. Hydro One (TSX: H), Manulife Financial (TSX: MFC), and Brookfield Infrastructure Partners (TSX: BIP.UN) have all built track records of steady performance. That’s even in challenging markets. These may not be the most exciting Canadian stocks, but they offer something better: durability.

H

Let’s start with Hydro One, Ontario’s electricity transmission and distribution giant. This is a pure-play utility serving over 1.5 million customers, and it’s nearly half-owned by the province itself, so it isn’t going anywhere. In the last year, shares are up about 13%, fuelled by stable earnings growth and consistent dividend increases.

In the most recent quarter, Hydro One posted earnings of $0.54 per share, up from $0.49 a year ago, driven by higher energy consumption and Ontario Energy Board-approved rate hikes. Capital investments reached over $900 million for the quarter, showing this Canadian stock is actively preparing for long-term energy demand. It currently yields about 2.6%, and that dividend has increased steadily since its initial public offering (IPO) in 2015. For conservative investors who like a government-regulated monopoly with inflation-resistant cash flows, this is the type of Canadian stock you buy and forget.

MFC

Then there’s Manulife Financial, which has had a quietly impressive year. The Canadian stock is up around 19% over the last year, supported by strong financial results and improving sentiment around life insurers. In its latest quarterly earnings, Manulife reported earnings per share of $3.10, up a staggering 72% from the prior year. Revenue climbed 14% year over year to over $31 billion.

Manulife’s global reach is one of its biggest strengths. It generates income from Asia, the U.S., and Canada, with a growing presence in wealth and asset management. The Canadian stock is extremely well capitalized, has over $29 billion in cash, and continues to reward shareholders with a 4.2% yield at writing. MFC has raised its dividend consistently and done an admirable job cleaning up legacy risks. If interest rates remain higher for longer, insurers like Manulife tend to benefit from stronger investment income. But even in lower-rate environments, its diversified operations make it a long-term winner.

BIP.UN

Finally, Brookfield Infrastructure Partners continues to be a standout in the infrastructure space. It’s down roughly 4% year over year, but that includes a period of elevated rates that put pressure on highly leveraged assets. Even so, Brookfield showed resilience. In the second quarter of 2025, it posted net income of $69 million and funds from operations of $638 million, up 5% year over year.

The partnership is using its capital recycling strategy to maximum effect, selling mature assets at strong multiples and reinvesting in new high-return projects. Recent acquisitions include the Colonial Pipeline, the Hotwire fibre network, and a large-scale railcar leasing platform. Brookfield’s portfolio spans utilities, transport, midstream energy, and data infrastructure, giving it exposure to critical sectors that benefit from long-term contracts and inflation-linked pricing. The Canadian stock just raised its dividend by 6% and now yields around 5.7%. With a strong pipeline and access to over $5.7 billion in liquidity, it’s well-positioned for the future.

Bottom line

None of these Canadian stocks are flashy, but all of them share three things: recurring revenue, strong balance sheets, and the discipline to manage capital wisely. And right now, investing $3,000 towards each Canadian stock could bring in annual dividends of about $371!

Hydro One offers stable utility returns and provincial backing. Manulife delivers global diversification with growing income. Brookfield Infrastructure gives investors exposure to irreplaceable infrastructure assets. If you want to buy Canadian stocks you can hold forever, these three offer a solid foundation no matter what the market throws your way.