3 Elite Canadian Dividend Stocks Poised to Soar Higher in 2026

Placing any type of “elite” tag on a group of stocks is a difficult task, given the variation in which factors are most important to investors at any given time. For most of recent history, a company’s growth rate has been more important than anything else. Profitability and other key factors were not as important as how quickly a company grew, captured market share or otherwise saw underlying improvements that could lead to profitability over time.

I would say this view has shifted to which companies are the most profitable and have the most robust balance sheets. That’s why I’m now going to spend my time finding the true “elite” stocks out there.

So let’s do that and discuss three top dividend stocks that I think could outperform in 2026 and beyond.

Bank of Nova Scotia

In the Canadian banking sector Bank of Nova Scotia (TSX:BNS) remains one of my top picks for those looking for meaningful dividend income today and into the future.

With a dividend yield of 4.6% and a price-to-earnings ratio of around 18 times, I think there’s plenty to be said about the company’s long-term upside.

And that’s despite a stock chart above that looks like it’s about to go parabolic. Scotiabank has been one of the best-performing Canadian stocks this year, driven by a move that started around April (and has led to a roughly 50% gain in recent months).

I believe this trend could continue as global investors looking for financial exposure look at the Canadian stock market as a place to invest.

Enbridge

In terms of high yield stocks that I would say investors have benefited from the most over the last five years Embarrassed (TSX:ENB) should at least be included in the discussion.

Now with a dividend yield of 5.6% (down significantly thanks to the stock’s massive price appreciation in recent years), Enbridge’s status as a leading pipeline operator has led to strong and consistent stock price performance as investors look for ways to stabilize their returns over the long term.

The entire discussion about energy independence in the North American energy complex is really about producing more domestic oil. But getting that oil from where it’s produced to where it’s refined is the other half of the story, and Enbridge is bridging that gap (pun intended).

I expect further dividend increases (and more debt payments) in the future, which will provide an even bigger advantage for those betting on an even stronger company with a balance sheet that will be the envy of other peers.

Restaurant brands

In terms of companies with defensive exposure and the ability to weather any kind of macro headwinds that come our way in 2026, Restaurant brands (TSX:QSR) remains one of my top picks at the moment.

Shares of the fast-food giant have been surging in recent weeks, buoyed by strong gains from other competitors in the space.

I think the trade-down effects we’re starting to see – of consumers still wanting to dine away from home, but wanting to do so in a more cost-effective way – will continue. If that’s also your base case, QSR stock is worth a look here.

With a current dividend yield of around 3.5% and solid long-term cash flow growth, driven by both organic (same-store) sales growth and the company’s international expansion efforts, I think Restaurant Brands is a top dividend growth stock worth considering during dips. Trading around record highs, I would probably wait for a pullback before bidding on this name, but it’s a stock I think could be worth adding to in the coming months if we see volatility increase.