My 3 Favourite Canadian Dividend Stock Ideas for 2026

There are hundreds of dividend stocks trading on the TSX that I could probably include on this list. Given Canada’s plethora of energy, financials and real estate companies, this is a market that’s really dominated by yield-producing options. For those thinking long term, that’s a good reason to own some index fund exposure to this market, in my view.

However, for those who like to pick stocks (as I do), here are three of the top dividend stocks on my list right now, and why I think they could be set up for a solid 2026.

Suncor

In the Canadian energy sector, Suncor (TSX:SU) is about as blue-chip a stock as there is.

The western Canadian provider of heavy crude to mostly U.S. refineries has seen its share price move nicely higher this year, as investors bank on continued investment in this sector. Impressively, this move comes as oil prices have remained stagnant, speaking to the shifting political priorities on both sides of the border today.

I think Suncor’s rock-solid balance sheet, lower production cost than major peers per barrel of oil, and dividend yield of nearly 4% (impressive, given this stock’s recent run) are worth considering here.

Those looking for a balanced portfolio may want to have some energy exposure in the mix. Among the top players I continue to pound the table on is Suncor for that kind of blue-chip dividend-producing upside.

Whitecap Resources

Sticking to the commodities sector for a minute, Whitecap Resources (TSX:WCP) is another top Canadian stock I continue to pound the table on right now.

The company’s dividend yield of 6.3% is much higher than that of Suncor, though both companies’ stock charts look eerily similar in recent years.

I’d argue that many of the same catalysts driving Suncor higher will likely impact Whitecap Resources as well. The key differentiator between the two companies in my mind is Whitecap’s relatively smaller size and outsized production growth in recent quarters.

For those who believe the price of oil is more likely to go up than down from here, this is certainly a higher-leverage and higher-growth way to play this trend. Personally, I’d consider splitting energy exposure between the two names, but I thought I would be prudent to include both on this list, particularly due to Whitecap’s higher yield and higher growth outlook.

SmartCentres REIT

In the real estate sector, one company I think hasn’t gotten the love it deserves in recent years is SmartCentres REIT (TSX:SRU.UN).

Much of this view probably has to do with the fact that SmartCentres owns and operates a portfolio of commercial real estate leased to retailers. Think of the malls and outlets that have gone out of business in recent years, and you get the picture. Many investors simply don’t want to touch this part of the market.

But with Walmart (NYSE:WMT) anchoring most of the company’s core locations, inviting tremendous foot traffic to businesses leasing other units offered by the company, it’s no surprise to see SmartCentres’ occupancy rates among the lowest in this sector.

With a dividend yield of 7.3%, it’s really hard to find an investment-grade option with this kind of yield today. This pick is aimed more at investors looking for higher upfront yield. But over the long term, I’d expect this company’s distributions to continue to rise as rent growth continues.

The post My 3 Favourite Canadian Dividend Stock Ideas for 2026 appeared first on The Motley Fool Canada.

Should you invest $1,000 in Walmart right now?

Before you buy stock in Walmart, consider this:

The Motley Fool Stock Advisor Canada analyst team identified what they believe are the 15 best stocks for investors to buy now… and Walmart wasn’t one of them. The 15 stocks that made the cut could potentially produce monster returns in the coming years.

Consider MercadoLibre, which we first recommended on January 8, 2014 … if you invested $1,000 in the “eBay of Latin America” at the time of our recommendation, you’d have $21,105.89!*

Now, it’s worth noting Stock Advisor Canada’s total average return is 95%* – a market-crushing outperformance compared to 72%* for the S&P/TSX Composite Index. Don’t miss out on our top 15 list, available when you join Stock Advisor Canada.

See the 15 Stocks #start_btn6 { background: #0e6d04 none repeat scroll 0 0; color: #fff; font-size: 1.2em; font-family: 'Montserrat', sans-serif; font-weight: 600; height: auto; line-height: 1.2em; margin: 30px 0; max-width: 350px; text-align: center; width: auto; box-shadow: 0 1px 0 rgba(0, 0, 0, 0.5), 0 1px 0 #fff inset, 0 0 2px rgba(0, 0, 0, 0.2); border-radius: 5px; } #start_btn6 a { color: #fff; display: block; padding: 20px; padding-right:1em; padding-left:1em; } #start_btn6 a:hover { background: #FFE300 none repeat scroll 0 0; color: #000; } @media (max-width: 480px) { div#start_btn6 { font-size:1.1em; max-width: 320px;} } margin_bottom_5 { margin-bottom:5px; } margin_top_10 { margin-top:10px; }

* Returns as of November 17th, 2025

More reading

• How to Use Your TFSA to Earn $575 Per Month in Tax-Free Income
• 3 Top Canadian REITs for Passive Income Investing in 2026
• Use Your TFSA to Earn $184 Per Month in Tax-Free Income
• What I’d Do With $20K Today to Maximize My Passive Income
• This 6% Dividend Stock Pays Cash Every Single Month

Fool contributor Chris MacDonald has no position in any of the stocks mentioned. The Motley Fool recommends SmartCentres Real Estate Investment Trust and Whitecap Resources. The Motley Fool has a disclosure policy.