1 High-Yield Dividend Stock You Can Buy and Hold for a Decade of Income

For investors focused on building reliable passive income, finding a high-yield dividend stock that can be held for the long term may be the ultimate goal. While many companies offer attractive yields, only a handful combine high income, business stability, and consistent dividend growth. One Canadian stock that should be on your radar is Enbridge (TSX:ENB).

With a dividend yield that ranks among the highest in Canadian large-caps, Enbridge offers investors the opportunity to generate meaningful income today while positioning themselves for years of future payouts. For Canadians seeking dependable cash flow over the next decade, this energy infrastructure giant deserves serious consideration.

Enbridge is a business built for stability

Enbridge operates one of the largest energy infrastructure networks in North America. Its massive pipeline system transports crude oil and natural gas across Canada and the United States, serving millions of customers and businesses. The company also owns natural gas utilities and renewable power assets, adding further diversification to its operations.

What makes Enbridge particularly attractive for income investors is the stability of its business model. Unlike oil producers, Enbridge is not heavily dependent on higher commodity prices. Instead, much of its cash flow comes from long-term contracts and regulated assets that generate predictable revenue.

This creates a toll-road-like business structure where Enbridge earns fees for transporting energy products regardless of short-term oil price movements. That stability has allowed the company to continue rewarding shareholders through different economic cycles, including recessions, energy downturns, and periods of market volatility.

Enbridge is a proven dividend growth machine

Enbridge stock’s dividend-paying track record of 70-plus years is one of the strongest reasons to consider the stock for a long-term income portfolio. The company has increased its dividend for about 30 decades, demonstrating management’s commitment to returning capital to shareholders.

Even more impressive is the scale of those payouts. Enbridge currently offers a yield of about 5.2%, which is significantly higher than the broader market average of about 2.2%, making it especially appealing for retirees and passive-income investors. A high starting yield can dramatically improve long-term income generation, particularly when dividends are reinvested over time.

The company’s distributable cash flow continues to support those payments with a payout ratio of 60–70%. Enbridge benefits from large-scale infrastructure assets that are difficult to replicate, creating competitive advantages and dependable cash generation. In addition, management continues to invest in expansion projects, natural gas infrastructure, and renewable energy opportunities that should support future earnings growth.

For investors with a 10-year time horizon, that combination of high current income and ongoing dividend growth can become extremely powerful.

Why Enbridge stock fits long-term portfolios

Income investing is not just about chasing the highest yield. Sustainability matters just as much. Enbridge’s defensive cash flow profile, diversified operations, and essential infrastructure make it one of the more dependable dividend stocks on the Toronto Stock Exchange.

The stock may experience short-term volatility due to interest rates or energy market sentiment, but long-term investors should focus on the company’s ability to consistently generate cash and reward shareholders. By holding Enbridge over an extended period, investors can potentially benefit from years of quarterly income while also participating in gradual capital appreciation.

For Canadians building retirement income or looking to increase their income generation, Enbridge remains one of the best buy-and-hold dividend stocks available, especially if bought on market corrections.

Investor takeaway

Enbridge stock combines a high dividend yield, stable infrastructure-based cash flow, and a long history of dividend growth, making it an attractive stock for investors seeking reliable income over the next decade. While no investment is risk-free, Enbridge’s resilient business model and shareholder-friendly nature position it as a solid long-term holding for Canadians focused on passive income and portfolio stability.

The post 1 High-Yield Dividend Stock You Can Buy and Hold for a Decade of Income appeared first on The Motley Fool Canada.

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More reading

• Beat the TSX With These Cash-Gushing Dividend Stocks
• 2 Canadian Dividend Giants to Buy With Rates on Hold
• How to Turn $10,000 in Your TFSA Into a Cash-Generating Machine
• A 5.3% Yield Pipeline Stock That Could Have a Breakout Year
• Got $25,000? Transform a TFSA Into a Cash-Gushing Machine

Fool contributor Kay Ng has no position in any of the stocks mentioned. The Motley Fool recommends Enbridge. The Motley Fool has a disclosure policy.