Canadian dividend stocks continue to attract Foolish investors looking for stability, predictable cash flows, and long-term growth. And in today’s uncertain macro environment, companies with strong backlogs, resilient earnings, and consistent payouts are standing out even more.
Three top TSX stocks that fit this profile right now are Canadian National Railway (TSX:CNR), Enbridge (TSX:ENB), and Aecon Group (TSX:ARE). Each operates in a different part of the economy, but all three are benefiting from long-term structural demand. Let’s take a closer look.
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Canadian National Railway stock
Canadian National Railway, or CN, is one of North America’s largest rail networks, connecting key industrial regions across Canada and the United States. CN stock currently trades at around $157 with a market cap of over $96 billion and has delivered 19% returns to investors in the last 12 months. At this market price, it also offers a 2.3% annualized dividend yield.
CNR’s business is simple but powerful. It moves essential goods like grain, oil, chemicals, and consumer products. This makes its revenue relatively stable, even during economic slowdowns.
In the first quarter of 2026, CN reported revenue of $4.4 billion, slightly down 1% year over year (YoY). Its net profit came in at $1.2 billion, while diluted earnings per share (EPS) rose 1% to $1.87.
More importantly, the company posted record first-quarter revenue ton miles of 61.8 billion, up 3% YoY. CN’s gross ton miles also increased 3% from a year ago, showing stable demand across its network.
While higher costs and macro uncertainty slightly pressured profitability, CN’s ability to maintain volumes, improve efficiency, and generate strong cash flow reinforces why it remains a core long-term holding in 2026.
Enbridge stock
Enbridge’s reliable dividends and solid fundamentals continue to prove why it’s one of the most reliable dividend stocks in Canada. Following a 13% rise in the last year, ENB stock now trades at $72.61 with a market cap of $158 billion and offers a dividend yield of around 5.4%.
The company delivered record financial results in 2025 as its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) rose 7% YoY to $20 billion, while adjusted net profit increased 9% to $6.6 billion.
Interestingly, Enbridge has now met or exceeded its financial guidance for 20 consecutive years. At the same time, the company raised its dividend by 3% for 2026, marking its 31st consecutive yearly increase.
Now, it expects adjusted EBITDA between $20.2 billion and $20.8 billion in 2026, along with steady long-term growth across its business segments. With predictable cash flows, a massive project pipeline, and a strong dividend track record, Enbridge remains a top choice for income-focused investors.
Aecon stock
Aecon Group is a key player in Canada’s infrastructure and construction space, with exposure to major projects across nuclear, utilities, transit, and industrial sectors. Its stock currently trades at $48 with a market cap of $3.3 billion and is up by an impressive 200% over the last year.
In the first quarter of 2026, its revenue jumped 18% YoY to $1.3 billion with the help of strong activity across its construction business, especially in nuclear and utilities work.
At the same time, the company’s profitability is also improving. Aecon delivered adjusted EBITDA of $32 million in the March 2026 quarter, a sharp increase from just $3.6 million a year ago. At the same time, its net loss narrowed significantly to $17.9 million from $37.9 million last year.
Moreover, Aecon’s backlog has reached a record $10.9 billion, the highest in its history. The company is also expanding through acquisitions and new project wins.
With a record backlog, improving margins, and growing exposure to long-term infrastructure themes, Aecon is positioning itself for sustained growth as governments and industries ramp up spending on critical projects.
