There are some Canadian dividend stocks that investors can feel confident holding on to in retirement. Arguably, there are very few stocks worth holding for more than a decade. But when it comes to the top dividend payers, many of whom have a long track record of increasing their payouts, such names are more than worth keeping in storage for decades on end.
In this piece, we’ll take a closer look at a few dividend stocks that I think deserve a semi-permanent place in a (future) retiree’s portfolio. As always, the following names are best owned, rather than traded, given their improving fundamentals and the potential for vicious slide after the next inevitable market correction, which tends to strike every year.
Such corrections can provide opportunities to buy more of your favorite dividend stocks at a price drop. And at this point, I think there’s a good enough starting point to start a position in a name that could make a significant contribution to one’s passive income stream in retirement.
Fortis
Shares of Fortis (TSX:FTS) have had quite a profit year, up over 22% while continuing to pay out its generous dividend. While interest rates, currently at 3.5%, are no longer as plentiful as they used to be, I still think the stable, regulated utility is a great place for investors to build wealth because they protect against market-wide volatility. Undoubtedly, geopolitical unrest has increased in 2026, and that could trigger a rush to the more stable defensive dividend stocks. When it comes to playing defense, I consider FTS stock to be one of the best ways to do so.
With a great history of dividend growth and the ability to benefit from increased energy consumption, thanks to AI data centers, I wouldn’t discount the “boring” stable dividend payer, especially as it benefits in the background from a trend that could well produce winners in some of the less obvious corners of the market.
The 3.5% yield is reasonable, but it’s the 0.40 beta and new momentum that have me most bullish. Combined with a strong management team and a predictable growth trajectory, I view the 21.3x forward price-to-earnings ratio as a fair price for what could be one of the best utilities in the Canadian market.
Restaurant brands International
Restaurant brands International (TSX:QSR) shares also have a 3.5% dividend yield, a modest multiple (24.6 times trailing price-to-earnings ratio) and a clear growth story. The company behind Tim Hortons, Burger King, Popeyes Lousiana Kitchen and Firehouse Subs has remained relatively flat, posting an 11% gain over the past year, which doesn’t match the gains of the TSX Index.
But as Canadians choose to spend less and save more in the new year, I think Restaurant Brands is poised to gain at the expense of higher-end restaurants. Fast food is indeed a quick and easy way to save money. And with menu innovation and value among management’s top priorities, I’d be looking to see QSR’s chains continue to fly higher.
Add in its low beta (0.60) and history of dividend growth, and QSR stock really stands out among conservative investors looking for rich, growing dividends.
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