The moment is now. The global wars have hit a reset on the supply chain. The world has undergone significant changes in energy, finance, and technology over the last five years. At this moment, dividend stocks bring stability and opportunity. Here are five dividend stocks that are at their most exciting time, and there is a reason to own them.
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The high-yield dividend stock
A 9.9% dividend yield? Such a high yield will push away the risk-averse, but wait till you see the reason. This stock is Telus Corporation (TSX: T), a telco that has sustained its dividend despite taking a hit on profits because of a rule change. The price war changed the world for telcos, but Telus adopted it and expanded in other areas, never letting revenue fall.
Today, the company is struggling with the significant debt it took on to build the 5G infrastructure. It is offloading assets, consolidating businesses, cutting costs, and lowering capital expenditure to reduce its debt to 3 times its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It paused dividend growth until it repairs its balance sheet. Fears of a dividend cut have pulled Telus stock down.
Even if it cuts dividends, the yield will reduce to 5–6% at a $16.85 stock price. This is still good, as the uncertainty will be over and the stock price will increase. And if there is no cut, a 9.9% yield is the most exciting thing in the dividend landscape.
The dividend growth stock
A high yield is good at present, but high dividend growth is good in the long term. Manulife Financial (TSX: MFC) has been growing its dividend by 10% annually in 12 out of the last 13 years. The insurance company has expanded its product portfolio across wealth and asset management services in North America and Europe. It is now expanding in fast-growing Asian economies. It even partnered with Mahindra & Mahindra to enter India. All this has helped it grow its revenue and profits significantly and pass on the benefit to shareholders.
Despite the high dividend growth, the dividend payout ratio is 42%, within its target range of 35–45%.
The above two stocks offer a dividend reinvestment plan (DRIP) that can help you accelerate compounding.
The opportunistic stock
An opportunistic buy is possible even in dividend stocks as the management shares windfall free cash flow (FCF) with shareholders through a special dividend. Lundin Gold (TSX: LUG) stock has dipped 20% near $95, creating a buying opportunity as gold prices stabilize.
This is generally not a stock for dividends, and the 4.6% yield is not assured as the dividend amount depends on FCF left after paying US$300 million annually in fixed dividends. When gold prices rise, Lundin has an all-in-sustaining cost (AISC) of US$1,170 per oz in 2026, and gold is trading above $4,500. This significant difference helps increase Lundin’s FCF and, therefore, performance dividends. Its fixed quarterly dividend is $0.20, but it paid $2.75 dividend per share in 2025 after adding performance dividends.
Lundin has increased its quarterly fixed dividend to $0.30 and has declared $1.15 in the first quarter of 2026. This hints that the opportunistic performance dividends are still up for grabs.
The resilient dividend stock
Enbridge (TSX: ENB) has a 30-year history of growing dividends. While the above dividends are exciting, Enbridge’s low-risk business model brings stability in difficult times. It is an all-weather stock you can bank upon for quarterly payouts, as it maintains a payout ratio in the 65–75% range.
The all-in-one stock
Canadian Natural Resources (TSX: CNQ) has all four qualities of high yield, dividend growth, resilience, and special dividends. Its low-maintenance, high-output oil sands reserves give it a low breakeven price of mid-US$40/barrel.
The company keeps acquiring new reserves in the upcycle and accelerates debt repayment with the output generated from those reserves. Maintaining net debt at US$13 billion keeps it financially stable and dividends growing. This helped Canadian Natural Resources grow dividends at an average annual rate of 20% in the last 21 years. During the downturn, its dividend growth slows to 2% and in an upturn accelerates to as much as 50%.
The Iran war has increased oil prices, putting CNQ’s dividends at an exciting point.
