Having $10,000 to invest is a solid starting point, but where you allocate it matters even more – especially in today’s uncertain macro environment shaped by geopolitical conflicts. That’s why I always encourage Foolish investors to stick with strong Canadian companies that have solid fundamentals and a proven track record, rather than chasing short-term moves.
And in 2026, a few dividend-paying stocks are standing out for exactly that reason. In this article, I’ll highlight two of them.
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Canadian Natural Resources stock
As a senior crude oil and natural gas producer, Canadian Natural Resources (TSX:CNQ) has a well-diversified portfolio spanning Western Canada, the North Sea, and Offshore Africa. This broad asset base helps it generate steady revenue across different market conditions. CNQ stock currently trades at $66.15 per share with a market cap of $138 billion.
Over the past year, CNQ stock has surged 78% due mainly to its strong operational and financial performance. It also offers a quarterly dividend yield of 3.7%, giving investors a reliable income stream alongside capital appreciation.
A big driver behind this performance has been its production growth. Last year, the company reported record annual production of 1,571 MBOE/d (thousand barrels of oil equivalent per day), up 15% from 2024. This growth came from a mix of strategic acquisitions, including the Palliser Block and liquids-rich Montney assets, along with full ownership of the Albian mines.
From a financial standpoint, CNQ generated adjusted net earnings of $7.4 billion and adjusted funds flow of $15.5 billion in 2025. Its strong cash flow allowed it to reduce net debt by $2.7 billion to just under $16 billion. This financial strength supported a 6.4% dividend increase, marking its 26th consecutive year of dividend growth.
Going forward, the company plans to allocate 75% of its free cash flow to share repurchases when net debt remains below $16 billion. It has also renewed its share buyback program for up to 10% of its public float. With 2026 production guidance raised and a reserves life index of 31 years, CNQ remains well-positioned for long-term growth.
Toronto-Dominion Bank stock
Toronto-Dominion Bank (TSX:TD), or TD Bank, is another large-cap stock Canadian investors can consider in 2026. As one of North America’s largest financial institutions, it offers services across personal banking, wealth management, insurance, and wholesale banking. TD stock currently trades at $137.25 per share with a market cap of $229 billion.
Over the last 12 months, TD stock has climbed 72%, backed by strong earnings growth and solid business momentum. It also provides a quarterly dividend yield of 3.2% at the current market price, making it more appealing for income-focused investors.
In the first quarter of its fiscal 2026 (ended in January), TD posted adjusted diluted earnings of $2.44 per share. For the quarter, the bank’s net income rose 45% year-over-year to $4 billion, while its adjusted net income climbed 16% to $4.2 billion. Its Canadian personal and commercial banking segment delivered record net income of $2 billion, driven by higher earnings and lower credit loss provisions.
At the end of the latest quarter, TD’s Common Equity Tier 1 ratio stood at 14.5%, highlighting its strong capital position. The bank is also leaning heavily into digital innovation as it has integrated banking services directly into platforms like Workday, allowing businesses to access near real-time financial data without complex systems. Moreover, TD plans to simplify payments, automate accounting entries, and reduce manual work significantly using new tech, which could make its services even more attractive.
Foolish takeaway
Both Canadian Natural Resources and Toronto-Dominion Bank offer a strong mix of growth, income, and stability. Their solid financial performance, disciplined capital allocation, and forward-looking strategies make them compelling choices for long-term investors. If you’re looking to put $10,000 to work in 2026, these two stocks could help you build a balanced and resilient portfolio.
