In addition to passive income, fundamentally strong dividend stocks often reflect a stable business, investor confidence and the company’s commitment to rewarding its shareholders. And when those dividends come from companies with strong operations and growth plans, you have something worth holding on to forever.
In this article, I highlight two such Canadian dividend stocks with a solid track record and strong income potential that can help you grow and protect your portfolio over the long term.
MCAN Mortgage Stocks
Stands first MCAN mortgage (TSX:MKP), a mortgage company that is currently not only paying high yields, but also building real value through strategic growth. This Toronto-based mortgage investment company focuses primarily on generating income through home and construction loans across Canada. After rising 17.2% over the past six months, MKP stock is currently trading at $23.01 per share with a market cap of just under $928 million. At this market price, it offers a generous dividend yield of 7.1% annually, which could be a big win for long-term investors.
A major reason for MKP stock’s recent rally is consistent mortgage production, including a year-to-date interest rate of 30%. boost in MCAN’s uninsured residential mortgages. The recently launched securitization program for uninsured mortgages also shows how the company is adapting to diversify its financing.
Notably, MCAN posted a 2% sequential increase in its third-quarter net profit to $20.5 million. As a result, earnings came to $0.52 per share, even as loan loss provisions increased due to market uncertainty. Adding to the optimism, the company’s credit quality remained strong in the latest quarter, supported by a solid average loan-to-value ratio of 65.4%. With residential mortgages now totaling $4 billion and construction mortgages growing to $1.2 billion, MCAN is clearly investing in long-term value.
From product expansion to infrastructure investments, the company focuses on sustainability and profitable growth. For dividend investors looking for a reliable stock that pays strong dividends now and plans ahead, MCAN seems like a good choice.
Alaris shares
Onward to Alaris Equity Partners Income Trust (TSX:AD.UN), a high-yield trust that proves how valuable structured equity investing can be over time. Based in Calgary, this company invests in private companies through preferred shares and common shares, generating regular distributions.
After rising 13% in the past two months, the stock currently trades at $20.26 per unit with a market cap of approximately $919 million and offers a solid dividend yield of 6.7%. Notably, the company just increased its dividend payout by 9%, bringing it to $1.48 annually.
In the last quarter (ending in September), Alaris reported a record net book value of $25.10 per unit. Similarly, revenue and operating income increased 8% year-over-year thanks to a net unrealized gain on investments of $47.9 million.
Beyond the numbers, what makes Alaris even more special is its ability to continue to reinvest. In the first three quarters of 2025, $228 million was deployed to new and existing partners. Meanwhile, the company continues to focus on generating reliable income through its unique investment structure. With a growing portfolio and a strong earnings coverage ratio among its partners, Alaris remains one of the top dividend stocks that can reward patient investors for years to come.
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