Investors have no shortage of income-producing stocks to choose from. In fact, some of the best dividend stocks in Canada offer growing payouts backed by reliable businesses and, in certain cases, decades of dividend growth.
Here’s a look at three of the best dividend stocks in Canada for beginner investors to consider today.
Source: Getty Images
Build a defensive foundation with Fortis
One of the first stocks for investors to consider is Fortis (TSX: FTS). For those unfamiliar with the stock, Fortis is one of the largest utility stocks in North America. The company operates a portfolio of regulated natural gas and electric utility businesses in Canada, the U.S., and the Caribbean.
That regulated portfolio is a major part of Fortis’ appeal. Electricity and gas service are essentials that customers cannot trade down from, like other retail purchases.
This gives Fortis a defensive business model with cash flows that are less sensitive to shifts in the market. More importantly, it allows Fortis to predictably invest in growth initiatives and pay one of the most stable dividends on the market.
As of the time of writing, Fortis offers a quarterly dividend that carries a yield of 3.4%.
Prospective investors considering the company as one of the best dividend stocks in Canada should note that Fortis has provided investors with annual increases to that dividend for 52 consecutive years without fail.
For beginner investors, that defensive appeal and growing dividend can provide the stability a new portfolio needs to continue growing for decades.
Add income strength with Enbridge
The second of the three best dividend stocks for Canadians to consider is Enbridge (TSX: ENB). Enbridge is one of the largest energy infrastructure companies on the planet.
The company operates several complementary businesses, including oil and natural gas pipelines, renewable energy, and a natural gas utility.
Those facilities are regulated or operate under long-term contracts, which give Enbridge a reliable and recurring source of revenue. The segments are also defensive in nature, thanks in part to the essential role energy plays across the economy and the immense volumes Enbridge transports.
To illustrate that importance, Enbridge transports approximately 30% of the crude oil produced in North America. The company also transports nearly 20% of the natural gas consumed in the U.S.
One of the main reasons why investors continue to turn to Enbridge is for the company’s quarterly dividend. As of the time of writing, Enbridge offers a yield of 5.6%, which makes it one of the better-paying dividends on the market.
And like Fortis, Enbridge has provided decades of annual increases to that dividend. Enbridge has increased its dividend annually for 31 consecutive years.
For beginners, Enbridge offers reliable income backed by a diversified energy infrastructure business.
Invest for growth and income with Scotiabank
Rounding out the list of the best Canadian dividend stocks to own is one of Canada’s big bank stocks. The big banks are almost always on a list of great investments owing to their reliable revenue streams, growing dividends, and long-term growth potential.
And in the case of Bank of Nova Scotia (TSX: BNS), that potential is huge.
Scotiabank benefits from its strong domestic operations and its international footprint. In recent years, the bank has refocused its growth strategy around the markets of Canada, the U.S., and Mexico following years of broader exposure to volatile Latin American markets.
As an income stock, Scotiabank offers well over a century of paying dividends without fail. The bank has also continued to grow its dividend. The most recent quarterly uptick was to $1.14 per share in 2026.
As of the time of writing, Scotiabank offers a yield of 3.5%.
For beginner investors, Scotiabank strikes a balance between stability, growth, and income. This makes it an ideal anchor in any portfolio.
Are you buying the best dividend stocks in Canada?
No stock, even the most defensive, is without risk. Still, this trio gives beginner investors exposure to three different industries along with a mix of income and growth.
In my opinion, one or all should be core holdings in any growing portfolio.
Buy them, hold them, and watch your portfolio grow.
