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Canadian investors are wise to hold a few core dividend stocks in their investment portfolios. Dividend stocks tend to be less volatile than the broader stock market. Likewise, their income returns can help balance out market downturns when they inevitably come.
If you are looking for some stocks that you can comfortably hold for years, these three dividend stocks belong in any investment portfolio.
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Pembina Pipeline: A top infrastructure stock for dividends
Pembina Pipeline (TSX:PPL) is a strong stock with an attractive dividend, a good growth profile, and a strong, resilient business. After rising 30% in 2026, Pembina yields 4.2% today.
With a market cap of $40 billion, it is a leading infrastructure provider to the Western Canadian energy industry. It operates everything from pipelines to storage terminals to midstream facilities and export terminals.
With energy prices rising and the Canadian regulatory environment improving, Pembina is hitting its stride this year. In May, it reported a solid quarter and raised its guidance for the year. It also announced plans to grow its contracted core earnings by a 5-7% annual rate for the coming four years.
Pembina recently announced plans to build a dedicated power plant for a data centre complex in Alberta. It also announced the potential to participate in building a new pipeline from Alberta to the West Coast. That is on top of its hallmark LNG export plant that is currently being constructed in British Columbia.
Given the pace of recent announcements, it could even exceed its long-term growth targets. With a strong balance sheet, it is in a great position to execute on its capex pipeline.
Pembina has grown its dividend annually ever since 2022. With a strong base of contracted income, it has the capacity to continue growing its dividend. It’s a solid stock for income and capital returns in the years ahead.
Fortis: A top utility stock
Fortis (TSX:FTS) is as close to a bond as you will find in a stock. It has a 52-year track record of annually growing its dividend. The great thing is that an investor also gets to enjoy capital returns.
It has delivered a 6.5% compounded annual return over the past 10 years. Add in dividends, and you get to a 10.8% compounded total annualized return. Right now, this dividend stock yields 3.1%.
That is not bad given the defensive, low-risk business model that Fortis operates. It operates nine regulated gas and power utilities across North America. Its assets are transmission and distribution, which create the framework for the energy grid. These are essential assets that enable modern society to function.
Consequently, Fortis earns a very stable stream of predictable earnings. It has a high credit rating and a low cost of debt that supports its steady capital growth plan. Right now, it has $28 billion capital plan that should fuel 7% annualized rate base growth over the coming five years.
This should support years of dividend growth ahead. With a track record of prudent growth and smart capital allocation, Fortis is a stock you can bet on for steady gains and income. It belongs as an anchor for any portfolio, no matter how aggressive you are.
