3 ultra-safe dividend stocks that will give you peace of mind for the next 10 years

If you’re looking for dividend stocks that will give you peace of mind over the next decade, focus on Canadian stocks that have never cut their payouts. While no investment is risk-free or ultra-safe, several reputable TSX-listed stocks have delivered reliable dividends year after year. Backed by resilient earnings, strong balance sheets and a commitment to returning value to shareholders, these companies have maintained and consistently increased their dividends even during economic downturns.

With that in mind, here are three dividend stocks worth buying and holding for the next decade because of their reliable payouts.

Dividend share no. 1: Fortis

Fortis (TSX:FTS) is a reliable dividend stock for investors looking for worry-free income over the next decade. This utility’s defensive business model and regulated assets generate predictable and growing cash flows regardless of economic conditions. Thanks to its resilient earnings base, Fortis has increased its dividend for 52 years in a row. This underlines its commitment to improving shareholder returns and the sustainability of its payouts.

Looking ahead, Fortis plans to invest $28.8 billion in modernizing and expanding its infrastructure, a move that should see its regulated interest base grow steadily to around 7% per year. This growth is expected to translate into rising profits and support dividend increases of 4% to 6% per year through 2030.

In addition to reliable revenues, Fortis offers potential for long-term capital growth, supported by increasing demand for electricity from data centers and other energy-intensive industries.

Dividend stock #2: Enbridge

Enbridge (TSX:ENB) is another top Canadian stock known for its reliable dividend payments and growth regardless of economic and commodity cycles. The energy infrastructure company has been paying dividends for decades. It recently announced a 3% increase in its quarterly dividend, raising its annual payout to $3.88 starting in March 2026. This marks the 31st consecutive year of dividend growth for the company.

The dividend is supported by a resilient business model that generates consistent profits and distributable cash flow (DCF). The majority of Enbridge’s revenue comes from regulated assets and long-term contracts, which help protect cash flow from fluctuations in oil and gas prices. The extensive pipeline network is still heavily used and delivers reliable growth year after year.

Approximately 80% of Enbridge’s revenues are supported by regulated or inflation-linked mechanisms, which enable predictable growth. Furthermore, ENB maintains a sustainable payout ratio of 60-70% of the DCF. With continued momentum in the pipeline and utilities businesses and increasing investments in renewables and low-carbon solutions, Enbridge is positioned for mid-single-digit earnings growth and continued dividend increases.

Dividend share #3: Toronto-Dominion Bank

Canada’s best banks have been leading dividend payers for decades, making them reliable investments for passive income. One of them is Toronto Dominion Bank (TSX:TD). It has been paying dividends for 169 years. Moreover, it has consistently increased its payouts. For example, the financial services provider’s dividend has grown at a compound annual growth rate (CAGR) of 8% since 2016. The strong dividend history reflects strong earnings and commitment to rewarding shareholders.

The bank’s diversified revenue streams and steady loan and deposit growth position it well for further earnings growth. Additionally, TD’s focus on operational efficiency and a resilient balance sheet bodes well for earnings growth. At the same time, the focus on strategic acquisitions is expected to increase competitiveness and generate additional income, further increasing dividend potential.

With a target payout ratio of 40-50%, TD’s dividend is well covered. Overall, Toronto-Dominion Bank is a reliable dividend stock for investors looking for decades of passive income.