Canada has a wonderful assortment of dividend champions that are ideal for a retiree’s portfolio. You can pick stocks in a mix of sectors that provide great assets and relatively predictable cash flows.
Now, that does come at a cost. Many of these stocks have enjoyed strong returns in 2026. They are not as cheap as they were a year or two ago. Consequently, a retiree may want to be tactical about how they deploy their capital. I like to build a small position first, and then grow that position on broader market pullbacks or temporary results-related dips.
If you like safe, reliable dividends and steady capital appreciation over time, these three dividend champions are solid bets.
Source: Getty Images
A top utility stock for retirees
Fortis (TSX: FTS) has to be at the top of the list. There are not many stocks in Canada with a dividend record over 50 years. Fortis sits at the top of this list with 52-consecutive years of annual dividend growth.
Fortis is not a flashy business, but it is absolutely essential. It provides regulated transmission and distribution infrastructure across North America.
The company is incredibly prudent. Its capital plan only focuses on low-risk projects with the opportunity for high single-digit returns. It is currently targeting 7% annualized rate base growth for the next five years. If you want to sleep well at night as a retiree, this is the perfect stock to hold.
It yields 3.2% right now. Its 10-year average is closer to 3.85%. With a price-to-earnings ratio of 23, the stock is a little pricey here. However, I would add it on a 10% pullback or more.
A top infrastructure stock
With a market cap of $173 billion, Enbridge (TSX: ENB) is Canada’s largest energy infrastructure provider. 30% of the crude produced in North America is transported through its network! 20% of American gas consumption goes through its network.
That just speaks to the scale and crucial importance this company holds in the North American economy. Its assets are truly irreplaceable. 98% of its income is contracted.
Enbridge has over $50 billion of capital growth opportunities that should help drive foreseeable 5% income growth.
Enbridge yields 4.9% today. It has a 31-year history of growing its annual dividend. Like Fortis, it may not be the fastest-growing business. However, it can deliver a steady mix of dividend growth and modest capital returns in the coming years.
A top real estate stock for retirees
Granite Real Estate Investment Trust (TSX: GRT.UN) is one of the safest bets if you want exposure to industrial real estate. It operates large-scale, institutional-quality logistics and manufacturing properties. These assets form the backbone of modern commerce operations around North America and Europe.
Granite has a 15-year history of consecutively bolstering its annual dividend. It’s one of the best records in the REIT universe.
The REIT has over 98% occupancy and an average term of over five years. Most of its leases have ingrained rental rate growth, so it has a natural organic growth. It has increased funds from operations per unit by around 7% annually for several years.
Granite stock yields 3.8% today. Its stock is up 14% this year. It is close to fair value today, so a retiree might be prudent to add it on a larger market decline.
