3 Dividend Stocks That Belong in Almost Every Investor’s Portfolio

I’m always on the hunt for new ideas in all corners of the stock market. That said, I prefer dividend stocks for a few reasons. Among the key reasons these companies stand out to me as opportunities worth considering is the reality that, in order to pay a dividend, sufficient cash flow and earnings generation are required.

As such, I’m going to dive into three of the top dividend-paying stocks I think are worth considering right now. Without further ado, let’s dive in!

Fortis

Fortis (TSX:FTS) remains at the top of my list of Canadian dividend stocks I think are worth owning right now. In fact, this is a name I think should be in every investor’s portfolio, for a number of reasons.

First off, there’s a rock-solid growth story here. With the rise of artificial intelligence and other energy-intensive technologies, companies like Fortis that provide utility services to millions of customers should continue to see robust demand. Oil prices are high, but with higher prices, any sort of downturn on this front could lead to exploding margins given the regulated nature of this industry.

Then there’s the stability factor Fortis provides. with some of the most stable and visible cash flows on Bay Street, this is a top name I think investors looking for a 3.3% dividend yield should opt for right now.

Canadian Natural Resources

Another commodity related name on this list, Canadian Natural Resources (TSX:CNQ) is another great option for investors looking to play the recent rise in energy prices.

With a recent quarterly dividend hike of more than 6%, Canadian Natural’s overall dividend yield currently sits at 3.9%. That’s impressive, considering this stock is up more than 60% this year.

With more than a quarter-century of consecutive annual dividend increases and one of the best balance sheets in the energy sector, I don’t think long-term investors can go wrong owning CNQ stock here. This is a top name on my watch list, and I’m considering adding exposure on any future dips.

Royal Bank of Canada

Now, a pick for investors looking for outsized stability. Royal Bank of Canada (TSX:RY) is not only Canada’s largest bank (and one of the top 10 banks globally), but it’s also the country’s largest stock.

Size matters, as they say. And it’s that stability factor that many investors keep coming back for.

That said, I think Royal Bank’s consistently-growing 2.7% dividend yield is one worth considering. Now, this yield has come down notably, given the surge in financial stocks we’ve seen of late. That said, the company’s moat, its diversified revenue streams, and global impact make this a name I don’t think investors should overlook.

For those looking for companies with rock-solid earnings quality and long-term upside, Royal Bank isn’t just a yield play. This is a foundational Canadian holding with the kind of stability most long-term investors are after. That’s good enough for me.

The post 3 Dividend Stocks That Belong in Almost Every Investor’s Portfolio appeared first on The Motley Fool Canada.

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More reading

• 3 Canadian Blue-Chip Stocks to Hold Through 2026 and Beyond
• How to Build Your Own Pension Using Canadian Dividend Stocks
• The Utilities Play: Boring, Reliable, and Suddenly Profitable
• 5 Dividend Stocks That Could Deserve a Spot in Nearly Any Portfolio
• Two Canadian Dividend Stocks Worth Snapping Up on Any Dip

Fool contributor Chris MacDonald has no position in any of the stocks mentioned. The Motley Fool recommends Canadian Natural Resources and Fortis. The Motley Fool has a disclosure policy.