Dividend stocks play an essential role in long-term investing. For Canadians, they offer a powerful combination of reliable income and capital appreciation. The best dividend companies also tend to have durable business models, strong cash flows, and long track records of rewarding shareholders.
Here are three dividend stocks every Canadian should consider owning in a long-term portfolio.
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Loblaw: A defensive dividend grower
Loblaw (TSX:L) represents one of the most stable businesses in the Canadian market. As the country’s largest food retailer, it operates more than 2,400 locations through well-known grocery and pharmacy brands.
Its grocery banners include Loblaws, Real Canadian Superstore, No Frills, Provigo, T&T Supermarket, Zehrs, Fortinos, Atlantic Superstore, and Your Independent Grocer. Meanwhile, its pharmacy segment includes Shoppers Drug Mart and Pharmaprix, giving the company strong exposure to both everyday necessities and healthcare retail.
That combination makes Loblaw a highly defensive investment. Even during economic downturns, Canadians still need groceries and prescriptions, which helps the company maintain steady revenue and cash flow.
Loblaw has also proven itself as a reliable dividend grower. The company has increased its dividend for roughly 14 consecutive years, with a five-year dividend growth rate of about 11.5%. Its most recent dividend increase in July 2025 was close to 10%, reinforcing management’s commitment to returning capital to shareholders.
At roughly $62 per share at the time of writing, the stock yields around 0.9%. While the yield is modest, the real appeal is its consistent dividend growth and stability, making it an ideal “buy-and-hold” stock that investors can add on market pullbacks.
Thomson Reuters: A global dividend compounder
Thomson Reuters (TSX:TRI) is another top Canadian dividend stock, particularly for investors looking for global exposure and long-term growth.
The company has a presence in over 75 countries, providing specialized information, software, and tools to professionals in legal, tax, accounting, compliance, and government sectors. These industries rely heavily on accurate data and efficient workflows, deeply embedding Thomson Reuters’ products in clients’ operations.
Importantly, the company has been investing in artificial intelligence and machine learning since the early 1990s. Those technologies now power its platforms, helping professionals access trusted insights and automate complex tasks. As AI adoption accelerates across industries, Thomson Reuters is well-positioned to benefit.
The market recently punished the stock during an AI-related sell-off, but shares have begun to rebound sharply. Despite the recovery, the valuation still appears attractive compared with historical levels.
Thomson Reuters has increased its dividend for more than 30 consecutive years, making it one of Canada’s elite dividend growth companies. The stock currently yields about 2.5%, and dividend increases in recent years have accelerated to roughly 10% annually, which should boost investor confidence.
goeasy: High yield with upside potential
goeasy (TSX:GSY) offers a very different opportunity — one focused on high yield and potential price recovery.
The non-prime consumer lender has seen its share price fall significantly from its 2025 peak, at one point losing roughly half its value. Market volatility and concerns around consumer credit drove much of the decline.
However, the underlying business remains profitable and continues to generate resilient earnings that could rebound down the road. At about $110 per share, the stock currently offers a compelling 5.3% dividend yield.
Also impressive is its dividend growth history. goeasy has raised its dividend every year for more than a decade, delivering an extraordinary 10-year dividend growth rate of over 30%.
The analyst consensus estimate suggests the stock could still be trading at a deep discount of over 40%, with significant upside potential of more than 70% if sentiment improves.
Investor takeaway
For Canadians building a dividend-focused portfolio, diversification across defensive, growth, and high-yield stocks is key.
- Loblaw offers stability and consistent dividend growth from a recession-resistant business.
- Thomson Reuters provides global exposure and long-term growth driven by technology and AI.
- goeasy delivers a high yield and potential recovery upside.
Together, these three companies combine income, resilience, and growth potential, making them strong candidates for long-term Canadian investors seeking reliable dividend returns.
