With interest rates holding steady and ongoing market volatility, now is as good a time for income-focused investors as any to lock in high-quality dividends.
The Canadian equity market currently offers a yield of roughly 2.5%, but patient investors don’t need to settle for average. By focusing on durable businesses yielding closer to 5% — and with a track record of dividend growth — it’s possible to build a portfolio that pays you well today while positioning you for long-term total returns. Here are three Canadian stocks I’d seriously consider locking in before 2026.
A renewable dividend built for decades
Brookfield Renewable Partners (TSX:BEP.UN) is one of the world’s largest pure-play renewable power platforms. Its portfolio spans hydroelectric, wind, solar, and energy transition assets across multiple continents, giving it scale and diversification few competitors can match. With global electrification, data centre growth, and decarbonization all accelerating, Brookfield Renewable is positioned to benefit for decades.
What truly underpins the dividend, however, is cash flow stability. Roughly 90% of its cash flows are contracted for an average of about 13 years, providing visibility and resilience even in uncertain markets.
Backed by an investment-grade balance sheet and access to multiple sources of capital, management targets long-term annual returns of 12–15% while growing its distribution by 5–9% per year.
That track record isn’t just theoretical. Over the past decade, Brookfield Renewable delivered a compound annual growth rate (CAGR) of nearly 12.9%, turning a $1,000 investment into roughly $3,349. Its distribution has risen for about 15 consecutive years at a 6.1% CAGR.
Trading near $37 per unit — about 18% below its 52-week high — the units currently yield approximately 5.6% and appear modestly undervalued.
A reliable dividend engine in any oil cycle
Canadian Natural Resources (TSX:CNQ) is another dividend I’d want locked in before 2026. Unlike more cyclical energy producers, CNQ’s long-life, low-decline assets and industry-leading cost structure allow it to generate strong free cash flow across a wide range of oil prices.
This operational discipline has translated into exceptional shareholder returns. Over the past 10 years, the company delivered a CAGR of about 17.3%, growing a $1,000 investment to nearly $4,948.
Even more impressive is its dividend record: CNQ has raised its payout for roughly 24 consecutive years, with a 10-year dividend-growth rate approaching 17%.
At around $45 per share, the energy stock yields about 5.2%, and analysts estimate the stock trades at a 14% discount to fair value. For income investors seeking both yield and inflation protection, it remains a reasonable option.
A higher-risk income opportunity
For investors with a higher risk tolerance, goeasy (TSX:GSY) adds a different flavour of dividend potential. The non-prime lender has fallen roughly 40% from its 52-week high and trades near $130 per share — about one-third below its long-term valuation norms.
While goeasy’s business is more sensitive to economic conditions, its long-term growth history and disciplined capital management make it intriguing.
At current levels, investors are paid roughly a 4.5% dividend yield while waiting for earnings recovery and price appreciation potential. In a diversified portfolio, it could meaningfully enhance income and long-term returns.
Taken together, these three stocks offer a blend of stability, growth, and yield — exactly what I’d want to lock in before 2026.
