2025’s Top Canadian Dividend Stocks to Hold Into 2026

The Canadian stock market has jumped over 26% so far in 2025, making it one of the strongest years in recent memory for investors who stuck around through the market noise. While artificial intelligence (AI)-related tech stocks and small caps led the early rally this year, dividend-paying giants have quietly delivered solid returns, too. In a year filled with big interest rate moves and mixed economic signals, investors once again found comfort in companies with reliable payouts.

As we head into 2026, a few of these dividend stocks are thriving with strong balance sheets, stable growth, and a shareholder-friendly approach. In a volatile market, that’s exactly the kind of portfolio stability many are looking for. In this article, I’ll spotlight two such top Canadian dividend stocks to hold into 2026.

Scotiabank stock

Among the top dividend-paying stocks this year, Bank of Nova Scotia (TSX:BNS), or Scotiabank, has proven why it’s still worth keeping in your portfolio into 2026. Notably, BNS stock has staged a solid comeback in 2025 by surging nearly 30% year to date. As a result, it now trades at $100.04 per share with a market cap of $123.7 billion. At this market price, BNS stock also offers a strong 4.4% annualized dividend yield, making it an appealing choice for long-term investors seeking dependable returns.

This year’s rally in Scotiabank stock is mainly driven by its improving earnings, better market sentiment around rate cuts, and the bank’s focus on cost discipline. In the fourth quarter of its fiscal 2025 (ended in October), the bank reported a 23% YoY increase in net income to $2.4 billion, with its revenue hitting $9.8 billion. While its sequential revenue dipped slightly during the quarter, Scotiabank’s earnings remained resilient due to strong contributions from its Canadian and international banking segments.

What makes this bank stock even more interesting heading into 2026 is Scotiabank’s continued focus on digital banking investments across key markets and the expansion of its cross-border financial services. In addition, its strong capital position and global presence give it the tools to grow even in a low-rate environment in 2026.

Enbridge stock

Enbridge (TSX:ENB), the Calgary-headquartered pipeline giant, could also be a great dividend stock worth holding well into the new year. ENB stock is currently trading at $65.87 per share with a market cap of $143.7 billion, and it pays a juicy 5.9% annualized dividend yield. While the stock has seen a 12% rise in the last eight months, it remains a key pick for those seeking reliable income.

Interestingly, Enbridge’s business model is built around long-term contracts in oil and gas transportation, which gives it stable cash flows regardless of energy price swings. In the third quarter, the company’s adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) climbed by nearly 2% YoY to $4.3 billion. While higher financing costs trimmed its bottom line slightly in the latest quarter, the company still reaffirmed its guidance, expecting to achieve the upper half of its 2025 DCF (distributable cash flow) per share range.

Enbridge’s recent acquisition of three U.S. natural gas utilities could be seen as a big step in expanding its presence in North America. The deal is also expected to be accretive to its earnings.

Despite a dip in its latest quarterly profit, the energy infrastructure company’s long-term strategy remains focused on growth through regulated assets, expanding gas distribution, and renewable energy investments. With a strong payout track record and improving operational efficiency, Enbridge has the potential to keep rewarding shareholders in the years ahead.

The post 2025’s Top Canadian Dividend Stocks to Hold Into 2026 appeared first on The Motley Fool Canada.

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More reading

• Should Investors Dump Enbridge Stock and Buy This Dividend Champ Instead? 
• Canadian Investors: The Best $7,000 TFSA Approach
• Canadian Bank Stocks: Buy, Sell, or Hold in 2026?
• The Best Canadian Stocks to Buy and Hold Forever in a TFSA
• My Top Picks: 4 Canadian Dividend Stocks You’ll Want in Your Portfolio

Fool contributor Jitendra Parashar has positions in Enbridge. The Motley Fool recommends Bank of Nova Scotia and Enbridge. The Motley Fool has a disclosure policy.