If you’re looking to build a five-year dividend-focused portfolio, consider Canadian stocks with a long-standing history of stable distributions and offering visibility into future payouts. While dividends can never be completely guaranteed, firms that have regularly increased their dividends over time tend to possess the fundamentals and financial strength necessary to sustain shareholder rewards even during market fluctuations.
With that background, here are three Canadian dividend stocks that stand out as solid candidates for a buy-and-hold strategy over the next five years. These stocks have the potential to generate consistent income and offer visibility over future dividend growth.
Dividend stock #1: Fortis
Fortis (TSX:FTS) is an attractive dividend stock to buy and hold for the next five years for a growing passive income stream. This utility company’s rate-regulated business model generates predictable cash flows in all market conditions. Moreover, it primarily focuses on energy transmission and distribution, which adds stability to its operations.
Its low-risk earnings base and a defensive business model have enabled Fortis to increase its dividend for 52 consecutive years. Looking ahead, Fortis is well-positioned to maintain its dividend growth streak. The company’s $28.8 billion capital plan will help expand its regulated asset base to $57.9 billion by 2030, reflecting a compound annual growth rate (CAGR) of 7%. This will drive its earnings and enable the company to grow its dividend by 4%–6% annually during the same period.
Its solid dividend growth history, visibility over future distributions, and a growing earnings base make Fortis a dependable income stock to hold for the next five years.
Dividend stock #2: TC Energy
TC Energy (TSX:TRP) is another top Canadian dividend stock to buy and hold for the next five years. The energy infrastructure giant benefits from highly regulated and contracted assets, with 98% of its EBITDA tied to rate-regulated or take-or-pay contracts. This operating structure shields it from volatile commodity prices. Its stable earnings base has enabled it to increase its dividend for 25 consecutive years.
The company’s vast pipeline network connects key gas supplies to high-demand markets, ensuring steady cash flow and system utilization. TC Energy recently extended its 5–7% annual EBITDA growth outlook through 2028 and approved over $5 billion in new projects across North America, all supported by long-term, low-risk contracts.
With a strong project pipeline and growing demand for natural gas and cleaner energy, TC Energy is well-positioned to sustain annual dividend growth of 3–5% in the coming years. This makes TRP a dependable investment for passive income.
Dividend stock #3: Enbridge
Enbridge (TSX:ENB) is a must-have in any dividend-focused portfolio. The energy transportation and distribution giant has increased its dividend every year since 1995, weathering market crashes and economic downturns. Backed by more than 200 diverse, high-quality assets, Enbridge’s cash flows are largely protected by regulated or take-or-pay contracts, with minimal exposure to volatile commodity prices. Most of its earnings are also inflation-linked, ensuring resilient and predictable returns.
With a utility-like business model and steady cash generation, Enbridge is well-positioned to sustain and grow its dividend in the years ahead. Management projects mid-single-digit dividend growth and plans to distribute $40–45 billion to shareholders over the next five years. For investors seeking dependable income with strong long-term visibility, Enbridge remains a top pick.
