Investing in the best Canadian dividend stocks with reputations for paying dividends regularly, having solid fundamentals, and a long history of strong earnings potential can help generate a passive income that earns you more than fixed-income assets might return. As 2026 comes closer, here are five dividend stocks that you might want to double up on right now.
Enbridge
Enbridge Inc. (TSX:ENB), for me, is a no-brainer investment for virtually any stock market investor’s portfolio. The $141 billion market-cap energy company has an extensive midstream network transporting hydrocarbons across Canada and the US. The company’s growing renewable energy segment adds future-proofing for a greener energy industry, and its natural gas utility and distribution assets add an excellent defensive appeal to it.
The stock has increased dividends for several decades, and is well-positioned to continue doing that for years to come. As of this writing, it trades for $64.66 per share and pays investors $0.97 per share each quarter, translating to a juicy 6% dividend yield that you can lock in today.
Fortis
Fortis Inc. (TSX:FTS) is another compelling long-term holding to consider. The $36 billion market-cap company is a pure play on the utilities sector. The company owns and operates several natural gas and electricity utility businesses across the US, Canada, and the Caribbean. Most of the company’s revenue comes through assets protected by long-term contracts in highly rate-regulated markets.
Predictable cash flows and steady earnings add to its defensive appeal for dividend-seekers. The fact that it has increased dividends for the last half-century makes it an even better holding to consider. As of this writing, it trades for $71.18 per share and pays investors $0.64 per share each quarter, translating to a 3.6% dividend yield.
TC Energy
TC Energy (TSX:TRP) might be an astute pick for investors seeking reliable dividend income. The $77.5 billion market-cap energy infrastructure firm has a 57,000-mile pipeline network transporting natural gas and other hydrocarbons across Canada, the US, and Mexico. The company also has substantial power-generation assets operating in the region.
TC Energy also stands to benefit from Canada’s growth-focused investments in the coming years. As of this writing, TC Energy stock trades for $74.46 per share and pays investors $0.85 per share each quarter, translating to a 4.6% dividend yield that is too attractive not to lock in right now.
Canadian Natural Resources
Canadian Natural Resources Ltd. (TSX:CNQ) is another major energy sector player that might be a good fit for stocks to double up on. The $91.6 billion market-cap TSX oil and gas company is one of Canada’s largest producers of crude oil and natural gas. The company’s portfolio consists primarily of long-life and low-decline assets that point to a positive outlook for its future.
The rising demand for North American energy, especially due to rising geopolitical tensions, can mean good news for energy producers like CNQ stock for years to come. As of this writing, the stock trades for $43.95 per share and pays $0.5875 per share, translating to a 5.4% dividend yield that you can lock into your self-directed portfolio.
Telus
Telus Corp. (TSX:T) is another blue-chip stock that makes my list of stocks to double up on. The $27 billion market-cap giant in the Canadian telco sector is a world-leading communications technology company. Within Canada, it is one of the Big Three Telecos, which is a big deal in a largely consolidated industry. The barrier to entry is high, and this industry-leading stock is taking full advantage of that.
The company has a reputation for growing shareholder value through high-yielding dividends. The stock has increased payouts 27 times in the last 14 years, and looks well-positioned to continue. As of this writing, it trades for $17.44 per share and boasts a 9.6% dividend yield that is too good to pass up on right now.
Foolish takeaway
Each of these stocks have strong fundamentals and growing earnings bases. If you’re seeking long-term investments for your self-directed investment portfolio, these should be on the top of your list for potential additions to your holdings.
