A Canadian Dividend Stock I’d Hold Through Anything

With a 5% dividend yield, defensive operations and a payout ratio of less than 70%, this Canadian stock is an ideal long-term investment.

Key Points
  • Enbridge is a critical North American energy‑infrastructure company (moves ~30% of continent’s crude oil and ~20% of U.S. natural gas), making its operations essential and resilient.
  • Its revenue is largely contract‑ and regulation‑backed, producing predictable cash flow that supports a roughly 5% yield and 30+ years of dividend growth.
  • For 2026 the dividend is $3.88 while expected distributable cash flow per share is $5.70–$6.10 (payout ~68% at the low end), leaving room to fund growth and sustain payouts.

When building a long-term portfolio, while the goal is to hold stocks for the long haul, there will inevitably be some Canadian dividend stocks or growth stocks that you’ll need to sell. Sometimes the markets change, industries evolve, or better opportunities come along.

But while some stocks may end up being sold a few years down the line, others are meant to be held through just about anything.

Those are the companies that form the foundation of a portfolio, the ones that are so defensive and reliable that you don’t have to constantly worry every time the market gets shaky.

And if you’re looking for that kind of stock on the TSX, it’s hard to find a better example than Enbridge (TSX: ENB).

dividend growth for passive income

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Why Enbridge is a reliable Canadian dividend stock you can hold through anything

There’s a reason Enbridge is one of the most popular dividend stocks in Canada. The Canadian dividend stock is one of the most important energy infrastructure companies in North America.

The company moves roughly 30% of the continent’s crude oil and transports about 20% of the natural gas used in the United States. That alone tells you how critical its operations are, and those are just some of its operations.

And the key point is that Enbridge isn’t dependent on oil prices going up to make money because it gets paid to move energy through its pipelines and infrastructure.

So even if prices are volatile or the economy slows down, energy still needs to be transported, homes still need heating, and businesses still need supply.

That’s what makes the business so reliable. Pipelines, storage, and utilities aren’t optional. And because of that, Enbridge’s assets are constantly being used regardless of what’s happening in the market.

That’s why Enbridge is easily one of the best Canadian dividend stocks to buy and hold, especially when the economic environment worsens or stock market volatility picks up.

Why the dividend is so consistent

Because its operations are so essential and consistently generate reliable and predictable cash flow, Enbridge is the perfect company to pay a dividend. So it unsurprisingly has one of the best track records of dividend growth on the TSX.

The company has increased its dividend for over 30 straight years and currently offers a yield of roughly 5%, which goes to show just how reliable the business is.

To not only make a profit but continue generating enough cash flow to pay and actually increase the dividend each year shows exactly why Enbridge is a stock you can own through anything.

That’s possible because a big portion of Enbridge’s cash flow comes from contracts or regulated assets. That means a lot of its revenue is predictable and not tied to short-term swings. So, it’s not reliant on perfect market conditions just to keep paying investors.

At the same time, Enbridge keeps investing in new projects, whether that’s expanding its natural gas business, adding utility assets, or growing into areas like renewables.

And that growth is possible because Enbridge keeps its dividend sustainable. For example, for 2026, Enbridge will pay out $3.88 in dividends per share, yet it’s expecting to generate distributable cash flow per share of $5.70 to $6.10.

So even at the low end of that range, it still only equates to a payout ratio of 68%, which not only ensures the dividend remains sustainable, but it also leaves a tonne of capital to invest in future growth, to fund more dividend increases down the road.

That’s why Enbridge is the perfect core portfolio stock, and a dividend stock that doesn’t just generate income today; it continues to increase that income year after year.

So, if you’re looking for a stock you can confidently hold through market ups and downs, Enbridge continues to be one of the most reliable options on the TSX.

Fool contributor Daniel Da Costa has positions in Enbridge. The Motley Fool recommends Enbridge. The Motley Fool has a disclosure policy.

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