3 of the Best Canadian Stocks Investors Can Buy Right Now

With markets facing ongoing uncertainty, many Canadian investors are taking a more cautious approach when looking for the best Canadian stocks to buy right now.

There are still questions from investors regarding the future of interest rates, inflation, and economic growth, and that uncertainty has made it harder to feel confident investing in higher-risk growth stocks.

That’s why, in environments like this, high-quality and reliable dividend stocks often stand out as some of the best investments you can make.

Dividend-paying companies are often well-established businesses with strong underlying operations that can help smooth out volatility, generate consistent income, and still deliver solid long-term returns.

The key, of course, is focusing on investments that pay dividends you can actually rely on. That’s why it’s essential to look for companies and funds with durable business models, diversified revenue streams, and a history of maintaining or growing their payouts.

So, if you’re looking for some of the best Canadian stocks to buy now, here are three top picks you can consider today.

A top Canadian REIT to buy and hold for years

If you’re looking for a high-quality stock with reliable operations, an attractive yield, and years of growth potential, Granite REIT (TSX:GRT.UN) is a stock you won’t want to ignore.

In fact, Granite is one of the highest-quality REITs on the TSX, with a diversified portfolio of industrial, logistics, and warehouse properties spread across North America and Europe.

Demand for these types of properties has surged in recent years as more businesses shift toward online sales, shut down underperforming brick-and-mortar locations, and invest more heavily in distribution and fulfillment centres.

Because of that, Granite has strong long-term potential, both as existing leases roll over at higher rates and as new development projects come online.

Therefore, not only does the REIT continue to grow its earnings and the distribution it pays to investors, but that distribution has actually become even more reliable over the past five years, even as Granite has increased it annually.

So, if you are looking for a top Canadian stock to buy right now, Granite looks fairly valued, offers a dividend yield of roughly 4.1%, and has a payout ratio of less than 70%.

One of the best Canadian stocks to buy for dividend investors

In addition to Granite, another high-quality Canadian stock to buy, especially if you’re looking to boost your passive income, is Pizza Pizza Royalty (TSX:PZA).

Pizza Pizza is a unique dividend stock that offers investors a very different type of stability. Rather than operating restaurants directly, the royalty company collects a percentage of system sales from Pizza Pizza and Pizza 73 locations across Canada.

That asset-light model results in high margins and predictable cash flow, which is why it’s one of the best Canadian stocks that dividend investors can buy.

Since its revenue is tied to top-line sales rather than operating profits, Pizza Pizza Royalty is less exposed to rising costs than many traditional restaurant operators. In fact, inflation can actually help to increase the royalties it earns as system sales naturally rise.

So, if you’re looking for a higher-yield Canadian stock to buy now that still offers a reliable dividend yield, Pizza Pizza currently offers a yield of 5.8%.

One of the smartest Canadian stocks to buy now.

Given all the uncertainty in the market today, another smart investment for dividend investors to consider is the BMO Canadian High Dividend Covered Call ETF (TSX:ZWC).

The ZWC ETF is one of the best Canadian stocks to buy now because it’s designed for investors who want reliable income without taking on unnecessary risk.

The ETF holds a diversified portfolio of high-quality Canadian dividend stocks at the centre of the economy. That diversification alone makes it a solid option in uncertain markets.

However, what really sets the ZWC ETF apart, though, is its covered call strategy. By using a covered call strategy, the ETF generates additional income, which significantly boosts the yield investors receive.

And while this approach can limit some upside in strong bull markets, that trade-off can make a lot of sense right now, especially when many stocks are already trading at or above fair value and uncertainty remains high.

So, if you’re looking for the best Canadian stocks to buy now, the ZWC ETF and its 5.8% yield is easily a top pick.

The post 3 of the Best Canadian Stocks Investors Can Buy Right Now appeared first on The Motley Fool Canada.

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See the 5 Stocks #start_btn6 { background: #0e6d04 none repeat scroll 0 0; color: #fff; font-size: 1.2em; font-family: 'Montserrat', sans-serif; font-weight: 600; height: auto; line-height: 1.2em; margin: 30px 0; max-width: 350px; text-align: center; width: auto; box-shadow: 0 1px 0 rgba(0, 0, 0, 0.5), 0 1px 0 #fff inset, 0 0 2px rgba(0, 0, 0, 0.2); border-radius: 5px; } #start_btn6 a { color: #fff; display: block; padding: 20px; padding-right:1em; padding-left:1em; } #start_btn6 a:hover { background: #FFE300 none repeat scroll 0 0; color: #000; } @media (max-width: 480px) { div#start_btn6 { font-size:1.1em; max-width: 320px;} } margin_bottom_5 { margin-bottom:5px; } margin_top_10 { margin-top:10px; }

* Returns as of January 5th, 2026

More reading

• 3 Safe Dividend Stocks to Own in Any Market
• Earn $200/Month in Passive Income That the CRA Can’t Tax
• RRSP Wealth: 2 Outstanding Canadian Dividend Stocks to Buy in December
• RRSP & TFSA Power Plays: What Smart Canadians Are Buying This December
• 4 Canadian ETFs to Buy and Hold Forever in Your TFSA

Fool contributor Daniel Da Costa has no position in any of the stocks mentioned. The Motley Fool recommends Granite Real Estate Investment Trust. The Motley Fool has a disclosure policy.