The equity market faces heightened uncertainty amid ongoing geopolitical tensions and trade-related challenges. However, some Canadian stocks remain well-positioned to continue rewarding shareholders with reliable payouts and dividend growth. Their strong underlying fundamentals, expanding earnings bases, and disciplined capital allocation policies ensure reliable payouts regardless of where the broader markets move.
Moreover, these businesses also have the financial strength to increase their payouts year after year, even during periods of market turbulence.
Against this background, here are three dividend stocks to double up on right now.
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Canadian Natural Resources stock
Canadian Natural Resources (TSX:CNQ) is a top dividend stock to double up on right now. It has maintained and increased its dividend through multiple economic cycles, making CNQ a reliable income stock.
Canadian Natural’s long-life, low-decline energy assets and diversified production base drive its earnings and cash flow, supporting higher payouts. It produces various crude oil types, natural gas, and natural gas liquids, giving management flexibility to allocate capital toward the most profitable opportunities. This diversification supports consistent cash flow, which in turn supports dividend growth.
In 2025, Canadian Natural delivered higher production, strong free cash flow, and expanded reserves through both organic growth and strategic acquisitions. Its significant reserve base positions it well for sustained long-term production and growth.
Management recently approved a 6.4% increase to the quarterly dividend to $0.625 per share, payable April 7, 2026, to shareholders on record as of March 20. The increase marks the company’s 26th consecutive year of dividend growth, with payouts rising at an impressive 20% compound annual rate.
Supported by a strong balance sheet, diversified asset base, and improving energy prices amid geopolitical tensions, Canadian Natural appears well-positioned to continue rewarding shareholders with higher dividends.
Toronto-Dominion Bank stock
Toronto-Dominion Bank (TSX:TD) is another compelling dividend stock to double up on right now. TD has paid dividends for 169 consecutive years. Such a solid track record reflects the bank’s ability to grow earnings across different economic environments, including recessions and financial crises. Moreover, it shows management’s focus on returning cash to shareholders.
Over the past decade, TD has continued to reward shareholders with consistent dividend growth. Since 2016, the bank has raised its dividend by about 8% annually. Moreover, the financial services giant has a sustainable target payout ratio of 40% to 50% of earnings.
Supporting the bank’s payouts are its diversified revenue sources, including personal and commercial banking, wealth management, and insurance offerings. At the same time, continued expansion in loans and deposits, high-quality assets, and a focus on improving operating efficiency augur well for growth.
TD’s strategic acquisitions have strengthened its long-term growth prospects. By expanding its geographic footprint and broadening its range of financial products through acquisitions, the bank captures additional market opportunities and enhances earnings potential over time.
Overall, TD is a compelling dividend stock to add to your portfolio for worry-free income.
Canadian Utilities stock
Canadian Utilities (TSX:CU) is a worry-free dividend stock to double up on right now. The utility company’s payouts are driven by its defensive operating structure, including rate-regulated and contracted assets. Thanks to its low-risk earnings base, it raised its dividend for 54 consecutive years, making it a dependable income stock in all market conditions.
Looking ahead, Canadian Utilities appears well-positioned to continue extending its dividend growth track record. Management is focused on expanding its regulated rate base. As part of this strategy, Canadian Utilities has outlined a substantial capital investment program. Between 2026 and 2030, the company plans to invest approximately $12 billion in its regulated utility operations. These investments are expected to expand its rate base at a solid pace over the period.
In addition to regulated growth, Canadian Utilities is also emphasizing long-term contracted projects. These contracts provide visibility into future cash flows and reduce earnings volatility. In short, Canadian Utilities is a dependable and growing income stock to double up on right now.
