Payouts from dividend stocks can provide a reliable source of passive income. However, because dividends are never guaranteed, it’s important to find companies with the financial strength to sustain and consistently increase their payouts over the long term.
The TSX has several high-quality dividend stocks capable of growing their dividends across various market cycles. These Canadian companies stand out as some of the best dividend stocks to own in 2026 and beyond.
With that in mind, here are five of the 0best Canadian dividend stocks that offer dependable income in 2026 and beyond.
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Best dividend stock #1: Fortis
Fortis (TSX:FTS) is one of the best Canadian dividend stocks for 2026. Its rate-regulated electricity transmission and distribution business generates predictable and growing cash flow, enabling consistent dividend growth. The utility company has increased its dividend for 52 consecutive years and is expected to extend that streak with another hike in 2026.
Fortis’s $28.8 billion capital plan will expand its regulated rate base and support low-risk earnings growth. Management projects the rate base will grow about 7% annually through 2030, supporting dividend increases of 4% to 6% per year through the end of this decade. Fortis’s defensive business model, expanding rate base, rising electricity demand, and a strong balance sheet position it well for continued dividend growth.
Best dividend stock #2: Enbridge
Enbridge (TSX:ENB) is one of the best dividend stocks to hold in 2026. It has consistently paid dividends for more than 70 years and increased it annually since 1995. The energy infrastructure giant is well-positioned to extend that streak in 2026 while offering an attractive yield of about 5%.
Its dividend is backed by a diversified revenue base, with nearly all EBITDA generated from regulated assets or long-term take-or-pay contracts. These stable cash flows reduce exposure to commodity price swings and support consistent growth in distributable cash flow. Looking ahead, strength in its core businesses, strong project backlog, and rising energy demand position Enbridge well to deliver future dividend growth.
Best dividend stock #3: Canadian Natural Resources
Canadian Natural Resources (TSX:CNQ) is among the best Canadian dividend stocks. The oil and gas company increased its dividend for 26 consecutive years across multiple commodity cycles. Its portfolio of long-life, low-decline assets generates resilient cash flows, supporting consistent dividend growth.
CNQ also benefits from a flexible capital allocation strategy and value-enhancing acquisitions that strengthen its growth outlook. Looking ahead, its large reserve base, diversified operations, and low-decline production profile should drive stable earnings and cash flow. Moreover, ongoing debt reduction and an active drilling program position Canadian Natural well to continue rewarding shareholders with a higher dividend.
Best dividend stock #4: Canadian National Railway
Canadian National Railway (TSX:CNR) remains a top Canadian dividend stock for 2026, backed by 30 consecutive years of dividend increases. Its extensive North American rail network transports essential goods, including natural resources and consumer products, generating dependable demand and consistent cash flow.
Canadian National’s extensive rail network drives steady demand and helps stabilize revenue across economic cycles. Expansion projects, operational efficiency, and diversified end markets are expected to support profitability. For 2026, Canadian National forecasts low-single-digit volume growth and mid- to high-single-digit adjusted EPS growth. Overall, it is well-positioned to keep growing its dividend in the years ahead.
Best dividend stock #5: Bank of Montreal
Financial services giant Bank of Montreal (TSX:BMO) is known for its multi-decade history of uninterrupted dividend payments and growth. It has paid a dividend for over 197 years. Further, its dividend has increased at a compound annual growth rate (CAGR) of 5.7% over the past 15 years. The bank’s diversified revenue streams, strong balance sheet, and sustainable payout ratio provide a solid foundation for consistent earnings and dividend growth.
Looking ahead, BMO is on strong footing to benefit from loan and deposit growth, expanding fee-based businesses, and ongoing efficiency initiatives. At the same time, its investments in artificial intelligence (AI) are likely to streamline operations, enhance the customer experience, and reduce costs. These factors should further support earnings growth and strengthen BMO’s ability to deliver dependable and growing dividend income over the long term.
