A 4.5% Dividend Stock That’s a Standout Buy in 2026

A standout dividend stock in 2026 does two things at once. It pays you a real cash return today, and it keeps building the business so the dividend does not feel like a tightrope act. You want predictable cash flow, a clear plan for growth, and a balance sheet that can handle higher rates without panicking. Price matters too, as even a great company can become a mediocre buy if everyone is already piled in. So let’s look at one that checks all the boxes.

TRP

TC Energy (TSX: TRP) runs one of the most important pieces of North America’s energy system. It owns and operates natural gas pipelines, storage, and related infrastructure, plus a smaller power and energy solutions business. The dividend stock earns most of its revenue from long-term, contracted, or regulated assets, so its cash flow is usually steadier than that of a producer which lives and dies by commodity prices.

The dividend stock also looks cleaner than it used to because it completed a major simplification move. On October 1, 2024, TC Energy spun off its liquids pipelines business into South Bow, which let TC focus on natural gas, storage, and power solutions. Simpler stories tend to get valued more fairly, and management can spend more time executing instead of juggling competing priorities.

Recent performance has been steady, not spectacular, which is often the vibe you want from an income name. As of writing, shares are up about 10% in the last year. That range shows how the market still reacts to rate headlines and macro jitters, even when the underlying business keeps humming along.

Into earnings

Now to the numbers that actually drive the dividend. In the third quarter of 2025, TC Energy reported comparable earnings before interest, taxes, depreciation and amortization (EBITDA) of $2.7 billion, up from $2.4 billion a year earlier. It reported comparable earnings of $800 million, or $0.77 per share, and net income attributable to common shares of $800 million, or $0.78 per share. That mix indicates the core engine remained strong, even though the headline comparison appeared noisier due to segment-level swings.

The dividend itself remains one of the main reasons investors stick around. TC Energy declared a quarterly common share dividend of $0.85, which equals $3.40 annualized, framing this as its 25th consecutive year of dividend growth. That gives investors a 4.5% dividend yield at writing.

Looking into 2026, management gave a fairly clear earnings runway. In its latest update, TC Energy said it expects 2026 comparable EBITDA of $11.6 to $11.8 billion, which it described as 6% to 8% year-over-year growth. This supports the idea that the dividend sits on a growing base, not a shrinking one. A big part of the long-term demand story also links to LNG and power growth, and TC points to assets like Coastal GasLink.

Bottom line

So why call TRP a standout buy into 2026? It offers a reliable dividend backed by contracted-style cash flows, plus a more focused business after the South Bow spinoff, plus a stated plan for EBITDA growth next year. The main risks still show up right on schedule: higher rates can pressure valuations, big projects can surprise you, and regulators can shift outcomes. Even so, you can still bring in major income from even a $7,000 investment.

Yet overall, if you want a dividend stock that feels built for the long haul, TRP has a credible case to keep paying and keep growing through 2026.