Canadian companies with solid balance sheets, consistent profitability and sustainable payout ratios stand out in this regard. These are the companies that not only pay dividends today, but also provide confidence that these payouts will continue well into the future.
Against this backdrop, here’s a dividend stock that can help you generate a growing passive income stream for years to come. Additionally, this Canadian stock offers stability and visibility into future payouts, while maintaining sustainable returns, making it an attractive option for income investors.
A top passive income stock
Investors looking for worry-free passive income may want to consider this Accept (TSX:EMA) stock. The company operates a high-quality portfolio of regulated electric and natural gas utilities, along with complementary energy assets. Because almost all of Emera’s adjusted net income comes from regulated activities, earnings and cash flow are generally stable and predictable, resulting in a long history of dividend growth.
In September, Emera increased its dividend by 1%, marking the 19th consecutive year of annual growth. The growing payouts reflect the resilience of the company’s assets and its ability to generate stable revenues and cash flow.
Currently, Emera pays a quarterly dividend of $0.733 per share, giving investors a sustainable return of approximately 4.3%. For those looking for a stable, low-risk income backed by regulated utilities, Emera remains an attractive option.
Emera maintains its dividend growth streak
Emera will likely continue its long-standing streak of dividend growth. The utility’s recently outlined capital plan for 2026 through 2030 totals $20 billion, an investment that will meaningfully expand its interest base and in turn lead to higher revenues and cash flow. With this plan, Emera expects its interest base to grow 7% to 8%, supporting an expected adjusted earnings per share increase of 5% to 7%.
The momentum is already visible. Emera consistently delivers solid profits. Additionally, Emera plans to invest $3.6 billion by 2025, and more than $2.6 billion of that capital has already been invested in major projects. These include solar and grid reliability upgrades at Tampa Electric, energy storage and transmission work in Nova Scotia and continued gas infrastructure development at People’s Gas. Each of these initiatives is designed to attract new customers, meet rising demand and strengthen the company’s long-term growth profile.
Florida remains one of Emera’s key growth markets. The region’s growing population and strong economic backdrop continue to drive electricity and natural gas consumption, providing a steady tailwind for the company’s regulated utilities operating there. At the same time, broader shifts in the energy landscape, such as increased electrification, the integration of renewables and changes in grid architecture, are driving demand growth in Emera’s markets.
With these factors working in favor and the interest base growing, Emera is targeting annual dividend increases of 1% to 2%. For income-oriented investors looking for stability with stable passive income, Emera is an attractive choice.
Earn $425 per year with shares of Emera
Emera is a reliable dividend stock to add to your portfolio for worry-free passive income. The growing interest base and favorable demand trends will drive future earnings and dividends. If you invest $10,000 in Emera today, the dividends alone could earn $106.29 every quarter, which equates to about $425 over the course of a year.
| Company | Recent price | Number of shares | Dividend | Total payout | Frequency |
| Accept | $68.77 | 145 | $0.733 | $106.29 | Quarterly |
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