3 Strong Canadian Stocks That Raised Their Dividends — Again

With markets near record highs and economic headwinds potentially on the way, investors are wondering which top TSX dividend stocks might still be good to add to a self-directed Tax-Free Savings Account (TFSA) or Registered Retirement Savings Plan (RRSP) portfolio focused on dividend income and total returns.

Enbridge

Enbridge (TSX:ENB) is best known for its oil and natural gas transmission assets. The company moves nearly a third of the oil produced in Canada and the United States, and about 20% of the natural gas used by American businesses and homes.

Enbridge reported a $39 billion secured project backlog in the Q4 2025 earnings report. The company just received the green light from the Canadian government for a $4 billion expansion of a natural gas pipeline in British Columbia.

In recent years, Enbridge diversified its asset base. The company bought an oil export terminal in Texas and is a partner on the Woodfibre liquified natural gas (LNG) export facility being built on the B.C. coast. Enbridge also spent US$14 billion to buy three natural gas utilities in the United States. Domestic demand for Canadian and American natural gas is increasing, as new gas-fired power generation facilities are built to provide power for AI data centres. International buyers are scrambling to find secure supplies of both oil and natural gas. Enbridge is in a good position to benefit from these trends.

Enbridge increased the dividend in each of the past 31 years. Investors who buy ENB at the current price can get a dividend yield of 5.4%.

Fortis

Fortis (TSX:FTS) is another solid dividend-growth stock investors can comfortably own for decades. The board raised the distribution in each of the past 52 years and intends to boost the dividend by 4% to 6% annually through 2030.

Fortis is working on a $28.8 billion capital program that will boost the rate base steadily over five years. As the new assets are completed and go into service, the increase in cash flow should support the dividend growth.

The company’s expertise in building and operating electricity grids could lead to new projects in Canada in the coming years as the provinces and the federal government put a plan in place to create a national power grid.

Canadian Natural Resources

Canadian Natural Resources (TSX:CNQ) is a major Canadian energy producer. The company has a diversified product portfolio, with oil sands, conventional heavy and light oil, offshore oil, natural gas liquids, and natural gas contributing to the revenue stream. Rising demand for Canadian energy, along with new pipeline capacity, should be positive for CNRL.

The board raised the dividend in each of the past 26 years. Investors can currently get a 4% dividend yield. The stock has given back some gains after the big rally on soaring oil prices. Near-term volatility is expected, but additional downside would be an opportunity to add to the position.

The bottom line

Enbridge, Fortis, and CNRL pay good dividends that should continue to grow. If you have some cash to put to work, these stocks deserve to be on your radar.

The post 3 Strong Canadian Stocks That Raised Their Dividends â Again appeared first on The Motley Fool Canada.

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The Motley Fool recommends Canadian Natural Resources, Enbridge, and Fortis. The Motley Fool has a disclosure policy. Fool contributor Andrew Walker has no position in any stock mentioned.