If you are looking for dividend stocks that’ll let you rest easy for the next 10 years, focus on Canadian stocks that have never cut their payouts. While no investment is risk-free or ultra safe, several well-established TSX-listed stocks have delivered reliable dividends year after year. Supported by resilient earnings, strong balance sheets, and a commitment to returning value to shareholders, these companies have maintained and consistently grown their dividends even during economic downturns.
With that in mind, here are three dividend stocks worth buying and holding for the next 10 years for their dependable payouts.
Source: Getty Images
Dividend stock #1: Fortis
Fortis (TSX: FTS) is a dependable dividend stock for investors seeking worry-free income over the next decade. This utility company’s defensive business model and rate-regulated assets generate predictable and growing cash flows regardless of economic conditions. Thanks to its resilient earnings base, Fortis has raised its dividend for 52 consecutive years. This highlights its commitment to enhancing shareholder returns and the sustainability of its payouts.
Looking ahead, Fortis plans to invest $28.8 billion to upgrade and expand its infrastructure, a move that should steadily grow its regulated rate base at about 7% annually. This growth is expected to translate into rising earnings and support dividend increases of 4% to 6% per year through 2030.
In addition to reliable income, Fortis offers potential for long-term capital appreciation, supported by increasing electricity demand from data centres and other energy-intensive industries.
Dividend stock #2: Enbridge
Enbridge (TSX: ENB) is another top Canadian stock known for its reliable dividend distributions and growth regardless of economic and commodity cycles. The energy infrastructure firm has been paying dividends for decades. Recently, it announced a 3% hike to its quarterly dividend, lifting the annual payout to $3.88 beginning in March 2026. This marks the company’s 31st consecutive year of dividend growth.
The dividend is backed by a resilient business model that generates consistent earnings and distributable cash flow (DCF). Most of Enbridge’s earnings come from regulated assets and long-term contracts, which helps shield cash flow from swings in oil and gas prices. Its extensive pipeline network remains highly utilized, delivering reliable growth year after year.
About 80% of Enbridge’s earnings are supported by regulated or inflation-linked mechanisms, enabling predictable growth. Moreover, ENB maintains a sustainable payout ratio of 60–70% of DCF. With ongoing momentum in pipeline and utility operations and expanding investments in renewables and low-carbon solutions, Enbridge is positioned for mid-single-digit earnings growth and continued dividend increases.
Dividend stock #3: Toronto-Dominion Bank
Canada’s top banks have been leading dividend payers for decades, making them reliable investments for passive income. One among them is Toronto-Dominion Bank (TSX: TD). It has been paying dividends for 169 years. Moreover, it has consistently raised its payouts. For instance, the financial services giant’s dividend grew at a compound annual growth rate (CAGR) of 8% since 2016. Its strong dividend history reflects its earnings strength and commitment to rewarding shareholders.
The bank’s diversified revenue streams and steady growth in loans and deposits position it well for continued earnings expansion. Further, TD’s focus on operational efficiency and a resilient balance sheet augurs well for earnings growth. At the same time, its focus on strategic acquisitions is expected to broaden its competitive footprint and generate incremental income, further enhancing its dividend potential.
With a target payout ratio of 40–50%, TD’s dividend is well covered. Overall, Toronto-Dominion Bank is a reliable dividend stock for investors looking for decades of passive income.
