A Canadian Dividend Stock I’d Hold Through Anything

When markets panic, most investors start looking for safety. But only a handful of Canadian dividend stocks have proven they can survive recessions, inflation spikes, oil crashes, and even a global pandemic, while continuing to reward shareholders.

For instance, Canadian dividend stocks like Fortis have been consistently increasing their payouts for over five decades. Moreover, Bank of Montreal has been paying dividends for 197 years, the longest streak of any Canadian stock.

While those are exceptional income investment options, if I could own just one Canadian dividend stock through every market cycle, it would be Enbridge (TSX:ENB).

Here’s why I’d hold Enbridge

Enbridge is a reliable stock with a proven history of dividend payments over the decades. It has been paying dividends for more than 70 years and has increased them annually since 1995. Adding to the positives, it offers a compelling and well-protected yield of 5.1%.

What makes Enbridge attractive is that its business is structured to generate stable cash flow regardless of short-term swings in oil and natural gas prices. The company operates one of North America’s largest pipeline and energy infrastructure networks, transporting massive volumes of oil and natural gas.

More importantly, much of Enbridge’s earnings before interest, taxes, depreciation, and amortization (EBITDA) comes from regulated assets and long-term take-or-pay contracts. In simple terms, customers pay to use its infrastructure whether commodity prices rise or fall. That creates a highly predictable stream of cash flow across all market conditions. This stability is a major reason Enbridge continues to confidently reward shareholders with generous dividends.

Enbridge also maintains a disciplined capital allocation strategy. By targeting a payout ratio between 60% and 70% of distributable cash flow (DCF), Enbridge balances shareholder returns with future growth investments. That means it can continue funding expansion projects, strengthening its balance sheet, and potentially growing dividends over time.

Overall, Enbridge is a dependable income stock backed by a resilient business model and predictable cash flow, defensive characteristics, and long-term growth potential. Enbridge remains one of the more compelling dividend stocks to own today.

Enbridge to keep growing dividend

Enbridge is well-positioned to continue growing its dividend in the years ahead. Its diversified portfolio will likely generate steady DCF and earnings per share, supporting higher dividend payments.

Enbridge’s growth outlook remains compelling. Management recently reaffirmed its 2026 financial guidance and expects adjusted EBITDA to come in between $20.2 billion and $20.8 billion, while DCF per share is projected to range from $5.70 to $6.10. Adjusted EPS is also expected to grow by 4% to 6%.

Further, the company’s EBITDA, earnings, and DCF per share are likely to keep increasing at roughly 5% annually beyond 2026. That is significant because the company’s dividend growth has historically been supported by expanding cash flow. As earnings continue climbing, Enbridge should have the financial flexibility to keep rewarding shareholders with higher payouts over time.

Supporting its growth outlook is the company’s solid secured capital backlog. Enbridge currently has approximately $39 billion in projects under development, with the majority backed by long-term agreements or a regulated framework. That provides strong visibility into future earnings growth and reduces the uncertainty.

At the same time, Enbridge’s core liquids pipeline network continues operating at high utilization levels, generating dependable revenue as North American energy demand remains resilient. The company is also positioned to benefit from emerging growth trends, including rising electricity demand from AI-driven data centers and broader energy transition investments.

For investors seeking a dependable dividend-growth stock, Enbridge is worth holding through anything.

The post A Canadian Dividend Stock I’d Hold Through Anything appeared first on The Motley Fool Canada.

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More reading

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Fool contributor Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool recommends Enbridge and Fortis. The Motley Fool has a disclosure policy.