For many Canadian investors, building a portfolio that generates safe and reliable dividend income is one of the most effective ways to create long-term financial stability. While stock prices can move up and down wildly in the short term, dividend stocks can provide consistent cash flow you can count on, which, for many investors, is far more valuable.
That reliability becomes even more important when looking ahead to 2026 and beyond. With ongoing uncertainty around interest rates, economic growth, and market valuations, many investors are prioritizing income-producing investments that can hold up through different market environments.
The key, however, is not simply chasing the highest yield available. High yields can sometimes be a warning sign that a dividend is unsustainable. Instead, the best dividend stocks to buy are backed by strong underlying businesses with predictable cash flow, essential operations, and a track record of maintaining or growing payouts over time.
So, if your goal is to lock in safe dividend income that you can rely on well into the future, here are three of the best high-yield dividend stocks to buy now.
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One of the best and most popular dividend stocks on the TSX
There’s no question that if you’re looking for a reliable Canadian dividend stock that offers a compelling yield, Enbridge (TSX:ENB) is one of the first stocks you’ll want to consider.
Enbridge is one of the most popular dividend stocks in Canada for good reason. The company operates one of the largest energy infrastructure networks in North America, transporting oil, natural gas, and renewable energy through long-term, contract-backed assets.
What makes Enbridge such a reliable dividend stock is the stability of its cash flow and the consistent expansion of its operations. Most of its revenue comes from regulated or contracted assets, which means earnings are largely insulated from short-term commodity price swings.
That predictability has allowed the company to simultaneously invest in expanding operations while making annual increases to its dividend for more than three decades straight, showing why it’s one of the most established dividend growth stocks on the TSX.
And with Enbridge trading off its 52-week high again, its dividend yield is sitting at a compelling 5.9% today.
One of the best real estate stocks that dividend investors can buy
In addition to Enbridge, CT REIT (TSX:CRT.UN) is another high-yield dividend stock you’ll want to buy and hold for years.
CT REIT is an ideal long-term dividend stock because of the portfolio of retail and mixed-use properties across Canada it owns, with Canadian Tire, which happens to be the stock’s majority owner, also as its primary tenant.
That relationship is what makes CT REIT particularly attractive from a risk standpoint. The vast majority of its rental income comes from long-term leases with Canadian Tire, a well-established retailer with a strong balance sheet. Furthermore, those leases are structured with built-in rent escalators, providing predictable and growing cash flow over time.
Because of this setup, CT REIT enjoys a level of stability that many other retail-focused real estate investments simply cannot match. Even during economic slowdowns, its occupancy remains high, and its cash flow remains steady.
In fact, CT REIT has managed to increase its revenue, funds from operations and dividend every single year since it went public over a decade ago, and today offers investors a yield of roughly 5.6%.
One of the best ETFs that dividend investors can buy now
Another option that investors have, especially if you’re looking for reliable monthly income with built-in diversification, is the BMO Canadian High Dividend Covered Call ETF (TSX:ZWC).
The ZWC ETF holds a diversified portfolio of high-quality Canadian dividend-paying stocks across sectors such as financials, energy, telecommunications, and utilities. That instant diversification means that a large portion of the passive income generated by the ETF is incredibly safe.
Furthermore, on top of the dividends generated by those holdings, the fund uses a covered call strategy to generate additional income. That strategy essentially boosts the ETF’s yield significantly, in exchange for limiting some upside potential during strong bull markets.
Therefore, with a net yield of more than 5%, the ZWC is easily one of the best dividend stocks to buy for safe and lasting income.
