The Smartest Dividend Stocks to Buy With $250 Right Now

Building long-term wealth doesn’t require thousands of dollars upfront. In fact, starting with just $250 — and investing it wisely — can set powerful compounding in motion. The key is choosing resilient, dividend-paying companies that not only provide income today but also grow that income over time. Here are three top Canadian dividend stocks that are worth considering right now.

Reliable income from defensive businesses

A great place to start is with stability. Fortis (TSX:FTS) is a regulated utility known for its highly predictable earnings and recession-resistant business model. Utilities provide essential services, which means demand remains steady even when the economy is gloomy.

Fortis has increased its dividend for more than 50 consecutive years, making it one of the most reliable income stocks in Canada. With a dividend yield of about 3.3% and a sustainable payout ratio, it offers both security and steady growth. While the stock appears fairly valued today, long-term investors can begin building a position and add more shares during market pullbacks.

Another defensive business is Empire (TSX:EMP.A). As the parent company of grocery banners like Sobeys and FreshCo, Empire operates in a sector that Canadians rely on daily. This makes its earnings remarkably resilient, even during downturns.

Empire has raised its dividend for roughly 30 years, supported by consistent earnings growth and a conservative payout ratio. Although its yield of about 1.9% is modest, its long-term dividend growth rate — over 8% annually in the past two decades — makes it a compelling choice for investors focused on growing income over time. With shares trading at a discount of over 10% to analyst targets, this is a stock worth accumulating, especially on dips.

Growth and income in one package

For investors seeking both income and long-term capital appreciation, Brookfield Asset Management (TSX:BAM) is a top-tier choice. The company manages a vast portfolio of real assets, including infrastructure, renewable energy, real estate, and private equity — sectors known for generating stable cash flows.

BAM’s asset-light business model drives strong fee-related earnings, which in turn support a rapidly growing dividend. As global demand for infrastructure and clean energy continues to grow, BAM is positioned to benefit significantly. This growth tailwind enhances its ability to deliver rising income to shareholders.

With a dividend yield of approximately 4.3% and shares trading at a meaningful discount of about 16% to the analyst consensus price target, Brookfield Asset Management offers a rare combination of value, income, and growth potential. It’s an excellent addition for any starter dividend portfolio.

Make your $250 work smarter

Even with just $250, you can begin building a diversified dividend portfolio by purchasing fractional shares or focusing on one high-quality name to start. The important step is getting invested early and staying invested. These three companies combine resilience, dividend growth, and long-term upside — exactly what small investors need to succeed.

Investor takeaway

Starting small doesn’t limit your investing potential — when paired with discipline and smart stock selection, it can do wonders through compounding over time. Fortis and Empire provide dependable, defensive income streams, while Brookfield Asset Management adds higher growth and income potential. Together with regular and smart investing, they can form a solid foundation for turning an initial $250 into a wealth-building machine over time.

The post The Smartest Dividend Stocks to Buy With $250 Right Now appeared first on The Motley Fool Canada.

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More reading

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Fool contributor Kay Ng has positions in Brookfield Asset Management. The Motley Fool recommends Brookfield Asset Management and Fortis. The Motley Fool has a disclosure policy.