2 Dividend Stocks to Hold Comfortably for the Next 5 Years

Dividend stocks remain among the best investments for generating reliable income, regardless of market conditions. However, investors with a long-term horizon, say five years, should focus on companies that can not only maintain their dividends but also grow them over time.

The most dependable dividend stocks typically come from established blue-chip companies with a resilient business model, consistent earnings, and strong cash flows. These companies are well-positioned to keep paying and increasing their dividends even during economic uncertainty.

With that in mind, here are two TSX dividend stocks that stand out as attractive long-term holdings. Backed by resilient businesses and solid dividend-growth track records, these companies appear well-positioned to reward shareholders with growing income over the next five years and beyond.

Top dividend stock #1: Fortis

Fortis (TSX:FTS) is one of the most reliable dividend payers to hold for the next five years. The utility giant’s defensive business model generates stable, predictable cash flows, enabling the company to continue paying and growing dividends regardless of market conditions.

The company operates regulated electricity and natural gas transmission and distribution networks across North America. Because these assets are regulated, Fortis is largely insulated from commodity price swings, providing a reliable source of earnings and cash flow. This stability has helped Fortis increase its annual dividend for an impressive 52 consecutive years.

Looking ahead, the company appears well-positioned to extend that streak. Fortis plans to invest approximately $28.8 billion in capital projects over the next five years to expand and modernize its regulated infrastructure. These investments are expected to expand their regulated asset base – the key driver of utilities’ earnings growth.

Management expects its rate base to increase at an average annual rate of about 7% through this period. Supported by this growth, Fortis forecasts annual dividend increases of 4% to 6%.

Fortis could also benefit from structural shifts in electricity demand. The ongoing electrification of transportation, the expansion of data centres, and rising power consumption could drive long-term demand for reliable electricity infrastructure. With its extensive regulated infrastructure and resilient business model, Fortis is well-positioned to capitalize on these opportunities and deliver steady growth.

Top dividend stock #2: Enbridge

For income-focused investors seeking a reliable stock to own for five years, Enbridge (TSX: ENB) stands out as a compelling choice. The energy infrastructure giant has paid dividends for more than seven decades and increased its payout every year since 1995, making it one of Canada’s most dependable dividend-growth stocks.

Enbridge generates most of its cash flow from regulated assets and long-term take-or-pay contracts. That structure provides predictable revenue and relatively insulates it from commodity price volatility.

Enbridge has also maintained a disciplined approach to capital allocation. By targeting a payout ratio of 60% to 70% of distributable cash flow, Enbridge can continue rewarding shareholders while retaining enough capital to fund future growth projects.

The outlook remains encouraging. Management reaffirmed its 2026 guidance and expects earnings and cash flow to grow at roughly 5% annually beyond this year. Supporting that growth is a secured $39 billion project backlog, with most projects backed by long-term contracts or regulated frameworks that provide strong visibility into future earnings.

Beyond its traditional pipeline business, Enbridge is positioned to benefit from emerging energy trends. Rising electricity demand from AI-powered data centres, growing natural gas consumption, and ongoing energy-transition investments could create additional growth opportunities over the coming years.

With a high-yield dividend, resilient cash flows, and multiple long-term growth drivers, Enbridge is a reliable income stock to hold for years.

The post 2 Dividend Stocks to Hold Comfortably for the Next 5 Years appeared first on The Motley Fool Canada.

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More reading

• 2 High-Yield Dividend Stocks to Own for the Next 10 Years
• 4 Dividend Stocks I’d Happily Double My Position in Today
• 1 High-Yield Dividend Stock You Can Hold for Decades of Income
• How to Create Your Own Pension With Canadian Dividend Stocks
• Here’s What Enbridge Stock Could Look Like by the End of 2026

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.