2 Dividend Stocks I’d Feel Good About Holding for the Next 2 Decades

Dividend stocks distribute a portion of a company’s profits to shareholders through regular cash payments, enabling investors to benefit from both a steady income stream and potential long-term capital appreciation. In many cases, dividend-paying companies operate well-established businesses that generate reliable cash flows, making them more resilient during periods of economic uncertainty. As a result, these stocks can add stability to an investment portfolio while also providing opportunities for long-term wealth creation. Additionally, investors can reinvest dividends to harness compounding and potentially enhance their overall returns.

That said, dividends are never guaranteed. Therefore, investors should focus on high-quality companies with durable business models, a history of consistent dividend payments, and strong growth prospects. Against this backdrop, here are two high-quality dividend stocks I believe are well-positioned to deliver reliable income and strong long-term returns for decades to come.

Enbridge

Enbridge (TSX:ENB) is a leading energy infrastructure company with a vast network of pipelines that transport crude oil and natural gas under tolling arrangements and long-term take-or-pay contracts. The company also owns three regulated natural gas utilities in the United States and a growing portfolio of renewable energy assets supported by long-term power-purchase agreements. Overall, approximately 98% of Enbridge’s earnings are generated from regulated assets or contracted operations, with around 80% of those earnings protected by inflation-indexed mechanisms. This highly predictable business model helps insulate the company from commodity-price volatility and supports stable financial performance.

Enbridge has rewarded shareholders handsomely over the long term, delivering a total return of approximately 1,112% over the past two decades, equivalent to an annualized return of 13.28%. The company has also paid dividends for more than 70 years and increased its dividend for 31 consecutive years. Today, it offers an attractive forward dividend yield of 4.91%.

Moreover, as oil and natural gas production continues to expand across North America, Enbridge should benefit from growing demand for its pipeline and energy infrastructure assets. To capitalize on these opportunities, the company has identified roughly $50 billion in growth projects and plans to invest $10-$11 billion annually to advance its expansion strategy. Supported by these investments, management expects adjusted earnings per share and distributable cash flow per share to grow at an annualized rate of around 5% through the end of the decade. Given its resilient business model, strong growth pipeline, and exceptional dividend track record, Enbridge remains an attractive buy-and-hold stock for long-term income investors.

Fortis

Another stock that stands out as an attractive choice for long-term income investors is Fortis (TSX:FTS). The utility company operates nine regulated utility businesses that serve approximately 3.5 million customers across North America, providing essential electricity and natural gas services. Most of its assets are concentrated in low-risk transmission and distribution operations, which help insulate its financial performance from commodity price swings and broader economic volatility. Supported by this stable and regulated business model, Fortis has delivered an impressive total shareholder return of approximately 617% over the past 20 years, representing an annualized return of 10.36%.

Fortis also boasts one of the strongest dividend records in Canada, having increased its dividend for 52 consecutive years and currently offering a forward dividend yield of 3.22%.

Looking ahead, rising electricity demand across North America—driven by economic growth, manufacturing reshoring, electrification trends, and the rapid expansion of AI-powered data centres—creates a favourable backdrop for the company. To capitalize on these opportunities, Fortis is executing a $28.8 billion capital investment program that could expand its rate base at an annualized rate of 7% through the end of the decade, reaching $57.9 billion. These investments should support steady earnings and cash flow growth, enabling Fortis to continue its long-standing dividend-growth streak and making it a compelling buy-and-hold stock for long-term investors.

The post 2 Dividend Stocks I’d Feel Good About Holding for the Next 2 Decades appeared first on The Motley Fool Canada.

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More reading

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• Transform Your TFSA Into A Cash-Creating Machine With $10,000
• A 3-Stock TFSA Game Plan for the Rest of 2026
• What the Fine Print Really Says About U.S. Stocks in Your TFSA

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