Dividend stocks can be excellent long-term wealth creators, offering investors the potential for both regular income and capital appreciation. However, dividends are never guaranteed, making it important to invest in high-quality companies with reliable cash flows, sustainable payouts, and solid long-term growth prospects. Such businesses are generally more resilient during economic uncertainty and can help stabilize an investment portfolio. With that in mind, here are three top dividend stocks to consider buying with $10,000 today.
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Fortis
Fortis (TSX: FTS) operates a highly regulated electric and natural gas utility business, with most of its assets concentrated in low-risk transmission and distribution operations. As a result, its earnings are less sensitive to economic cycles and commodity price fluctuations, enabling it to generate stable, predictable cash flows. Backed by this resilient business model, Fortis has increased its dividend for the last 52 years and currently offers a reliable yield of 3.26%.
The utility also continues to expand its asset base through planned capital investments of $28.8 billion through 2030, which could grow its rate base at a 7% compound annual rate to $57.9 billion. At the same time, Fortis is investing in preventive maintenance, operational efficiencies, and innovative technologies to lower costs and enhance profitability. Supported by these growth and efficiency initiatives, management expects to increase the dividend by 4% to 6% annually through 2030, making Fortis an excellent choice for long-term dividend investors.
Enbridge
Enbridge (TSX: ENB) is another top dividend stock to consider, backed by its resilient business model, reliable cash flows, and long history of rewarding shareholders. Approximately 98% of the midstream energy company’s earnings come from long-term take-or-pay contracts and regulated assets, with a significant portion of those contracts indexed to inflation. This reliable business model enables Enbridge to generate stable cash flows regardless of commodity prices or broader economic conditions, supporting consistent dividend payments. The company has paid dividends uninterrupted for more than 70 years and increased its payout for 31 consecutive years. With a quarterly dividend of $0.97 per share, it currently offers an attractive forward yield of 5.17%.
Enbridge also has a strong long-term growth pipeline, having identified approximately $50 billion in investment opportunities and expecting to sanction around $20 billion in projects through 2027. These investments could support steady earnings and cash flow growth, enabling the company to return $40 billion to $45 billion to shareholders through 2030 while maintaining a sustainable and growing dividend.
Bank of Nova Scotia
My final pick is Bank of Nova Scotia (TSX: BNS), which has paid dividends without interruption since 1833. The bank provides a broad range of financial services across multiple countries, and its diversified revenue base generates stable and reliable cash flows that support consistent shareholder payouts. It has also increased its dividend at a compound annual rate of 4.5% over the past decade and currently offers an attractive forward dividend yield of 3.72%.
Looking ahead, Scotiabank is sharpening its focus on its higher-return North American operations while reducing its exposure to lower-return, riskier Latin American markets. The planned acquisition of MapleMark Bank would strengthen its presence in the United States, particularly in the fast-growing Dallas market. At the same time, the proposed purchase of the remaining shares of Scotia Group Jamaica Limited could improve capital allocation and operational efficiency. Meanwhile, a higher interest rate environment should continue to support the bank’s core lending business. Given these growth initiatives and its long track record of dividend payments, Scotiabank is well positioned to continue delivering attractive returns to long-term income investors.
