Buying and holding Canadian blue-chip stocks is one of the best long-term means to build wealth. Often those blue-chips are established businesses with strong cash flow and decades of consistent dividend payments.
This makes them ideal holdings for long-term investors.Here’s a trio of those Canadian blue-chip stocks to consider adding to any portfolio.
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Canadian National Railway is a long-term compounder
To long-term investors, Canadian National Railway (TSX:CNR) is synonymous with long-term compounding.
Canadian National operates one of the largest rail networks in North America. Its network connects ports, cities, and industrial hubs across both Canada and the U.S. The railway is also unique in that it offers connections to three different coastlines on the continent.
Canadian National transports a variety of different types of freight. That includes consumer goods, energy products, agricultural products, forest products, and automobiles. That diversification helps to reduce reliance on any one industry.
And the sheer size of Canadian National’s network makes it difficult and expensive to replicate. In total, the railway hauls over $250 billion worth of goods across its vast network each year.
In terms of income, Canadian National offers investors a quarterly dividend that currently pays a yield of 2.1%. That’s not the highest yield on the market, but it is consistent and growing.
In fact, Canadian National has provided annual increases to that dividend for over three consecutive decades without fail. This makes it an appealing option among Canadian blue-chip stocks to own for the longer term.
Enbridge offers durable income and infrastructure exposure
Enbridge (TSX:ENB) is one of the best-known income producers on the market. For those unfamiliar with its business, Enbridge is one of the largest energy infrastructure companies on the planet.
Enbridge operates a massive pipeline network that includes both crude and natural gas segments. That business operates largely under long-term contracts. That, in turn, provides Enbridge with a steady revenue stream regardless of how oil prices move.
Beyond its pipeline business, Enbridge also operates a growing renewable energy portfolio that has assets in Europe and North America. The company also operates one of the largest natural gas utilities in North America.
Like the pipeline business, the renewable-energy portfolio and natural gas utility business benefit from long-term contracts and regulated frameworks. This provides Enbridge with a stable, recurring revenue stream.
As of the time of writing, that dividend pays a yield of 5.6%. This makes it one of the better-paying options on the market. Additionally, prospective investors should note that Enbridge, like Canadian National, has provided annual increases to that dividend for three decades without fail.
TD offers cross-border growth and defensive appeal
It would be hard to mention a list of Canadian blue-chip stocks to buy without noting at least one of the big bank stocks. Today, that bank to include is Toronto-Dominion Bank (TSX:TD).
TD is the second largest of Canada’s big banks. The bank operates both a strong domestic branch network and a growing U.S. presence. TD also has a large wealth management arm.
TD’s balance between its Canadian and U.S. operations gives it a unique mix of both defensive, reliable revenue at home and a growth-focused network in the U.S.
In fact, most investors may not realize this, but TD’s U.S. network, which stretches from Maine to Florida, has more branches than its Canadian sibling.
Turning to income, TD has paid dividends without fail since the 1860s. Today the bank offers a quarterly dividend with a yield of 2.7% and boasts annual upticks going back over a decade.
Why I’m holding these Canadian blue-chip stocks beyond 2026
Canadian National, Enbridge, and TD operate in very different industries, but each offers something unique for long-term investors.
Canadian National offers exposure to essential transportation infrastructure. Enbridge delivers high income backed by regulated energy assets. TD offers a cross-border banking franchise with a growing dividend.
While no stock is without risk, the trio of Canadian blue-chip stocks mentioned above are solid options that should, in my opinion, be core positions in any well-diversified portfolio.
