2 High-Yield Dividend Stocks You Can Buy and Hold for a Decade

Dividend stocks can play a vital role in building a balanced portfolio, as they offer a dependable income stream, lower volatility, and some protection against inflation. These companies typically generate stable cash flows that support regular payouts, helping your passive income grow steadily. Investors can further enhance long-term returns by reinvesting dividends to benefit from compounding. Owing to their established business models and consistent earnings, dividend-paying companies also tend to be more resilient during periods of market turbulence.

With that in mind, here are two high-yield Canadian stocks that could be attractive for long-term investors.

Enbridge

Enbridge (TSX:ENB) is a diversified energy infrastructure company that transports roughly 30% of North America’s crude oil production and about 20% of the natural gas consumed in the United States through its extensive pipeline network. In addition, it operates three U.S. natural gas utilities and owns renewable and clean energy assets backed by long-term power-purchase agreements.

The majority of Enbridge’s adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) is generated from regulated assets or long-term contracts, with approximately 80% of those contracts indexed to inflation. This structure makes its earnings and cash flows relatively resilient to economic cycles and commodity price volatility, enabling the company to increase its dividend for 31 consecutive years. It currently pays a quarterly dividend of $0.97 per share, yielding about 5.5%.

Looking ahead, Enbridge has identified roughly $50 billion in growth opportunities across its four core business segments over the next five years. The company expects to invest around $10 billion annually to advance these projects, which should expand its asset base and support earnings growth. Meanwhile, the company’s management expects its adjusted EBITDA, adjusted earnings per share (EPS), and discounted cash flows per share to grow at a mid-single-digit annual rate through the remainder of the decade.

Supported by strong cash flow visibility, the management expects to return $40–$45 billion to shareholders over the next five years. Given its stable business model, attractive yield, and clear growth runway, Enbridge appears well-suited for long-term, income-oriented investors.

Bank of Nova Scotia

Another dividend stock that appears attractive for long-term investors is Bank of Nova Scotia (TSX:BNS). The bank offers a full suite of financial services across more than 55 countries. Supported by a diversified revenue base that generates stable and recurring cash flows, it has paid dividends without interruption since 1833. Its quarterly dividend of $1.10 per share yields approximately 4.2%.

In its recently reported fourth-quarter fiscal 2025 results, Scotiabank delivered solid momentum, with revenue and adjusted EPS rising 15% and 22.9%, respectively, year over year. The bank has also strengthened its balance sheet and improved its loan-to-deposit ratio, positioning it to support sustainable long-term growth.

Importantly, Scotiabank is executing a strategic restructuring, reallocating capital and operational focus toward its North American operations while scaling back exposure to less profitable, higher-risk Latin American markets. This transition could streamline operations, enhance profitability, and improve the durability of future dividend growth. Backed by improving financial performance, a long history of consistent payouts, and ongoing strategic initiatives, BNS appears well-positioned to deliver steady income and long-term value for investors.

The post 2 High-Yield Dividend Stocks You Can Buy and Hold for a Decade appeared first on The Motley Fool Canada.

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More reading

• Canadian Defensive Stocks to Buy Now for Stability
• Top Canadian Stocks to Buy Now for Long-Term Growth
• The Top 3 Dividend Stocks I’d Tell Anyone to Buy
• Create Your Own Juicy Portfolio Dividend Yield With These 3 Incredible TSX Stocks
• 2 Undervalued Dividend Stocks Canadians Can Buy for 2026

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