2 Canadian Stocks That Pay You While You Wait

Some Canadian stocks do more than just sit there and test your patience. The best ones give you a reason to stay put by paying a healthy dividend while the broader story keeps building. That kind of setup can work especially well in a choppy market, because investors get income now and the chance for upside later. That’s why today, we’re considering two Canadian stocks that will help through any volatility.

T

TELUS (TSX:T) is one of Canada’s biggest telecom players, with wireless, internet, business services, health technology, and digital operations all under one roof. That mix gives it more moving parts than a plain old phone company, yet even still TELUS stock kept adding customers. In the fourth quarter alone, it posted 377,000 mobile and fixed net additions, while management also kept talking up its fibre, 5G+, health, and agriculture businesses as long-term growth engines.

There was also some meaningful news over the last year. TELUS stock announced in September 2025 that it would buy the remaining shares of TELUS Digital it didn’t already own in a deal valued at roughly $539 million in cash and stock, a move meant to tighten up its artificial intelligence and software exposure. Then in December 2025, management laid out a three-year free cash flow growth target and said it would step down its discounted dividend reinvestment plan. It also paused dividend growth until the share price better reflected the business, which wasn’t ideal for income investors, but it did show discipline.

The numbers still make the case interesting. TELUS stock reported 2025 revenue of $5.3 billion in the fourth quarter, with record free cash flow of $2.2 billion for the full year, up 11%, and it set a 2026 free cash flow target of about $2.5 billion. It also expects service revenue and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) to rise by 2% to 4% this year. TELUS stock’s market cap sits around $28.2 billion, and it trades at roughly 25 times trailing earnings, so it’s not dirt cheap on earnings alone. But the dividend yield sits around 9.2%, backed by a long-term payout target of 60% to 75% of free cash flow on a prospective basis.

EMA

Emera (TSX:EMA) is a regulated utility, so the appeal comes less from reinvention and more from steady, visible growth. The company owns electric and gas utilities in Atlantic Canada, Florida, and a few U.S. markets. That makes it relevant now as utilities have slipped back into focus as investors look for dependable cash flow, defensive businesses, and dividend growth that doesn’t rely on rosy economic forecasts.

Recent news has supported that case. In late 2025, Emera rolled out a $20 billion five-year capital plan and extended its rate base growth guidance. Then in February 2026, it extended its average adjusted earnings per share growth target of 5% to 7% through 2030. It also raised its common dividend in 2025 to an annualized $2.93 per share, marking its 19th straight year of dividend growth.

Earnings were strong where it counts. Emera posted record 2025 adjusted earnings per share (EPS) of $3.49, up 19% year over year, and adjusted net income of $ billion. It invested $3.6 billion in 2025 and grew its rate base by 8%, which helps support future earnings. The stock carries a market capitalization of about $21.7 billion and trades at roughly 20 times expected 2026 earnings, with a yield near 4%. That yield won’t turn heads beside that of TELUS stock, but it looks steadier.

Bottom line

If you want stocks that can pay you while you wait, both deserve a look. TELUS stock offers the bigger yield and more upside if sentiment improves, while Emera brings a steadier, utility-style path with reliable dividend growth. Both can provide ample income while you wait for growth, even with $7,000.

One is the higher-yield turnaround play. The other is the calmer compounder. In this market. There’s room for both.