1 Obvious Canadian Stock to Buy and Hold for Life

What on earth would make a Canadian stock an obvious one to buy? Well, an obvious Canadian stock to hold for life is one that feels like part of your everyday routine. It’s something you rely on without even thinking about it. It’s the bank you use, the grocery chain you shop at, the utility that keeps your lights on, or, indeed, the company supporting those packages you order online.

These companies tend to have steady cash flow, long histories of dividend growth, and business models that don’t fall apart when the economy hits a rough patch. They grow slowly but relentlessly, rewarding patient investors with rising payouts and dependable stability. When a dividend stock is so ingrained in daily life that you’d notice if it disappeared, that’s usually a sign it can anchor a portfolio for decades.

Granite fits

Granite REIT (TSX:GRT.UN) is one of Canada’s most stable and quietly powerful real estate investment trusts (REITs). It specializes in industrial properties such as logistics centres, warehousing, and manufacturing facilities. What sets Granite apart is its exceptionally reliable tenant base, with a significant portion of revenue coming from blue-chip, investment-grade companies. It owns properties across Canada, the U.S., and Europe, giving investors geographic diversification and exposure to global supply chain growth. Its portfolio is known for long lease terms, high occupancy rates, and steady contractual rent escalations — all ideal ingredients for predictable, long-term income.

On top of that, Granite has spent years strengthening its balance sheet, keeping debt levels moderate compared with most REITs. This allows the trust to weather higher interest rates, pursue acquisitions opportunistically, and continue funding development projects that support future cash flow. Its conservative management approach has been a major factor in its reputation as one of the most dependable REITs on the TSX. For investors wanting essential infrastructure exposure with long-term stability, Granite stands out as a premium pick.

Into earnings

Granite’s recent earnings showed continued resilience in its industrial portfolio, with strong occupancy rates and positive same-property net operating income growth despite a challenging rate environment. Management highlighted that demand for high-quality industrial space remains strong, particularly from e-commerce, logistics, and advanced manufacturing tenants. Rental rate spreads on both renewals and new leases have continued to trend higher, helping offset higher financing costs across the sector.

Funds from operations (FFO) remained steady, and Granite maintained one of the lowest payout ratios among Canadian REITs. That’s an important sign of dividend safety. The trust also continued executing on its development pipeline, which should add accretive cash flow in the coming years. While interest rate volatility has pressured many REIT valuations, Granite’s results demonstrated that its business model advanced through them.

A long-term hold

Granite REIT checks every box for a long-term, buy-and-hold-forever investment. It offers stable tenants, mission-critical real estate, growing cash flow, and a management team that prioritizes sustainability over short-term gains. Its properties serve industries that are foundational to the modern economy, such as transportation networks, logistics hubs, auto manufacturing, and supply-chain infrastructure. These aren’t trends that come and go, but structural pillars that will remain essential for decades. That stability helps Granite deliver predictable income and long-term appreciation in almost any market cycle.

Its long record of consistent dividend growth, paired with a conservative payout ratio, makes it one of the safest income generators on the TSX. And because industrial real estate continues to benefit from e-commerce expansion, re-shoring, and the need for larger distribution networks, Granite is positioned not just to maintain its income but to grow it steadily.

Bottom line

For Canadians building wealth in any portfolio, Granite is the kind of stock you buy once, tuck away, and let compound quietly in the background. In fact, here is what just $7,000 could bring in on the TSX today.

COMPANYRECENT PRICENUMBER OF SHARESDIVIDENDANNUAL TOTAL PAYOUTFREQUENCYTOTAL INVESTMENTGRT.UN$76.4291$3.40$309.40Monthly$6,954.22

In short, Granite is one of the most obvious dividend stocks out there to buy. So, if you’re looking for a stellar stock to consider for the long haul, Granite deserves a place on that watchlist.

The post 1 Obvious Canadian Stock to Buy and Hold for Life appeared first on The Motley Fool Canada.

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More reading

• 3 Rock-Solid Dividend Stocks to Own for the Next 15 Years
• This Canadian Dividend Stock Pays Cash Every Single Month
• 2 Safer Canadian Stocks to Buy Now With $7,000
• 2 Dividend-Growth Stocks to Buy on a Dip
• TFSA Investors: Buy These 3 Stocks For $1,500 Yearly Tax-Free Income

Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool recommends Granite Real Estate Investment Trust. The Motley Fool has a disclosure policy.