5 Dividend Stocks Worth a Spot in Nearly Any Canadian Portfolio

These five dividend stocks combine consistent income with long-term growth potential.

Jitendra Parashar

Author Bio Jitendra Parashar is a financial journalist who has been writing for The Motley Fool Canada since June 2020. With more than 13 years of experience in financial journalism, equity research, and market analysis, he helps investors understand market developments and identify long-term investment opportunities. Before joining The Motley Fool Canada, Jitendra spent several years at Market Realist covering U.S. equities, major economic developments, and developments in the automotive and technology industries. He also worked in commodity and currency research at brokerage firms, gaining insight into how economic trends, central bank decisions, and geopolitical events influence financial markets. Jitendra writes for beginner investors, dividend seekers, and Canadians looking to build wealth over the long term. He also contributes to the daily TSX Today series, explaining key Canadian market developments and highlighting news investors should watch. Based in India, Jitendra follows Canadian and U.S. markets closely. Outside of work, he enjoys travelling in the Himalayas, street and nature photography, and exploring programming and artificial intelligence. Education MBA in Finance and International Business Bachelor's degree in Journalism Areas of Expertise Canadian and U.S. financial markets, long-term equity investing, dividend investing, macroeconomic and geopolitical trends, automotive stocks, emerging technologies, and artificial intelligence. Social Media Profiles LinkedIn Muck Rack Favorite Investment Quote “Simplicity is the master key to financial success.” — John C. Bogle

Published April 30, 4:20 pm EDT

The TSX offers a wide range of businesses that not only generate consistent income but also have the potential to grow over time. Let’s take a closer look at five such dividend stocks that could fit well in nearly any Canadian portfolio in 2026.

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Nutrien stock

Nutrien (TSX: NTR) has built its reputation as one of the world’s largest providers of crop inputs and services. Its business spans retail distribution as well as the production of potash, nitrogen, and phosphate, giving it a well-diversified revenue stream. Its stock currently trades at $97.86 with a market cap of $47 billion. Over the last year, it has gained nearly 30% and offers a 3.1% dividend yield, paid quarterly.

The company’s recent results highlight its strength. In the fourth quarter, Nutrien reported net earnings of US$580 million, while EBITDA (earnings before interest, taxes, depreciation, and amortization) came in at US$1.3 billion. This performance was driven by higher fertilizer prices and strong sales volumes.

With strong fundamentals in potash and improving margins in nitrogen, NTR stock appears well positioned for steady long-term growth.

PrairieSky Royalty stock

PrairieSky Royalty (TSX: PSK) can help income investors benefit from the strength in the energy sector. Instead of operating assets directly, it earns royalty income from oil and gas production across its vast land portfolio. After climbing 38% in the last year, PSK stock currently trades at $32.70 per share with a market cap of $7.6 billion and offers a 3.2% dividend yield.

The company’s recent performance reflects steady growth. In the first quarter, total royalty production rose 4% year-over-year (YoY), helping drive its revenue to $133.8 million. Similarly, its funds from operations reached $94.9 million, up 11% YoY.

With a disciplined payout ratio and a strategy focused on expanding its royalty base, PrairieSky stock offers a relatively stable way to benefit from energy markets without direct operational risks.

Meren Energy stock

Meren Energy (TSX: MER) stands out for its high dividend yield and international asset base. The company operates upstream oil and gas assets across Africa, including Nigeria and Namibia. After climbing 36% in the last six months, MER stock is priced at $2.40 with a market cap of $1.6 billion. Notably, it offers a juicy dividend yield of 8.3% at the current market price.

While the company reported a net loss of US$31.6 million in 2025 due to a non-cash impairment, its core operations remained strong. Meren’s EBITDAX (earnings before interest, taxes, depreciation, amortization, and exploration expenses) reached US$440.7 million for the year, and operating cash flow was US$261.8 million.

With low leverage and a net debt-to-EBITDAX ratio of 0.4 times, Meren appears financially stable enough to support its payouts while pursuing future growth opportunities.

Killam Apartment REIT stock

Killam Apartment REIT (TSX: KMP.UN) provides exposure to Canada’s residential real estate market, with thousands of apartment units and manufactured home communities across the country. This TSX dividend stock currently trades close to $17 with a market cap of $2.1 billion. It offers a 4.2% dividend yield and pays distributions monthly, making it even more appealing for income-focused investors.

Last year, the REIT delivered 6.1% YoY growth in same-property net operating income (NOI), while its funds from operations per unit rose 4.2% to $1.23. With high occupancy levels and ongoing development projects, Killam remains a steady monthly income generator.

Nexus Industrial REIT stock

Speaking of monthly income, Nexus Industrial REIT (TSX: NXR.UN) could also be worth considering as it focuses on industrial properties, a segment that has benefited from strong demand in recent years. Its stock now trades at $8.08 with a market cap of $784 million and has risen 19% over the last 12 months. The REIT offers an attractive 7.9% yield with monthly distributions.

In the fourth quarter of 2025, Nexus posted a net profit of $30.6 million, supported by NOI of $33 million. Its occupancy remains strong at 96%, reflecting stable demand for its properties.

With continued leasing activity and disciplined capital management, Nexus has the potential to deliver steady income and gradual growth in the years to come.