10 Best Canadian Stocks To Buy In 2026 And Hold Forever

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Last updated: August 28, 2026

The Canadian stock market is trading near all-time highs. The S&P/TSX Composite closed at 36,553.92 on August 28, 2026, up roughly 28% over the past twelve months, after setting a fresh all-time intraday record of 37,069.11 earlier this month (Source: Trading Economics, data as of August 28, 2026).

The rally is standing on real ground, not just momentum. Gold and energy producers are generating record cash flow, and the country’s biggest banks just beat earnings estimates across the board in the same week (see our Big Six Banks Q3 2026 scorecard). The spring’s stagflation scare feels like a different year.

That leaves investors with a harder question than “should I buy?” It’s “what is still worth buying this high up?” Record highs are where discipline earns its keep. U.S. tariffs are still squeezing trade-exposed sectors, and the Bank of Canada announces its next rate decision on Wednesday, September 2, 2026, with its policy rate at 2.25% after six consecutive holds (Source: Trading Economics, as of August 28, 2026).

Below, we rank the 10 best Canadian stocks to buy and hold in 2026, selected for dividend track records, earnings durability, and long-term compounding potential, with every figure verified as of August 28, 2026. Whether you are looking for income, growth, or both, we have you covered.

How To Buy Stocks In Canada With The Best Investing Apps

Getting started is simpler than you might think. Opening an account takes about 10 minutes, deposits arrive the same day via Interac e-Transfer, and most accounts are approved within a day or two.

The big banks charge up to $9.95 to $20 per trade. The best investing apps charge $0 commissions on Canadian and U.S. listed stocks and ETFs, so you keep more of what you earn.

Feature	Questrade®	Wealthsimple
Stock & ETF commissions	$0	$0
Account types	TFSA, RRSP, FHSA, margin, and more	TFSA, RRSP, FHSA, personal
Best for	Advanced tools and a wider range of account types	Beginners who want a simple experience

Fee structure verified on each broker’s pricing page, August 28, 2026.

Wealthsimple is the simpler experience for Canadians new to investing. Questrade® offers a broader set of tools, order types, and account options as your strategy grows. Open a Questrade® account here to trade the stocks on this page commission-free.

For a full breakdown of both platforms, read our Questrade review or compare all the best investing apps in Canada.

Full Disclosure: This page contains affiliate links. We may earn a referral fee if you open an account using one of our links, at no additional cost to you. Your support helps keep the site running and allows us to continue to provide up-to-date information at Best Canadian Stocks.

Ranking The Best Canadian Stocks To Buy and Hold In 2026

Canada’s strongest companies have rewarded patient investors through inflation, rate cycles, and a trade war. With the TSX near record highs, quality and valuation matter more than momentum. Our list prioritizes durable earnings, strong balance sheets, and long records of shareholder value creation, and we flag the risks on every single pick.

What separates a stock worth holding forever from one worth trading? Look for a durable competitive advantage (a brand, a network, a low-cost asset base, or switching costs that competitors can’t easily replicate), a balance sheet that survives a bad year without a forced sale or a dividend cut, and management that has proven it can allocate capital well across a full cycle. From there, the split is really about what you need the holding to do: dividend payers like Canadian Natural Resources and Enbridge convert business quality into cash you can spend or reinvest today, while growth compounders like Shopify, Aritzia, and Constellation Software plow every dollar back into the business and ask you to be patient for the payoff. Neither approach is “better.” A portfolio built to last usually owns some of both.

The 2026 top ten, in order. Click to jump to a stock:

1. Barrick Mining (TSX:ABX) 2. Toronto-Dominion Bank (TSX:TD) 3. Canadian Tire (TSX:CTC.A) 4. Dollarama (TSX:DOL) 5. Shopify (TSX:SHOP) 6. Enbridge (TSX:ENB) 7. Aritzia (TSX:ATZ) 8. Brookfield Asset Management (TSX:BAM) 9. Canadian Natural Resources (TSX:CNQ) 10. Constellation Software (TSX:CSU)

Roster note: Telus held the #6 spot in our previous ranking. On July 31, 2026, it cut its dividend 55% and reported a quarterly loss, which broke the income thesis that earned it the spot. We removed it and explain the replacement below.

All price data in the stock blocks below is sourced from Yahoo Finance, in Canadian dollars unless noted. Other figures in the text: Source: StockAnalysis, data as of August 28, 2026, unless otherwise attributed.

Top-10 Best Canadian Stocks To Buy Right Now

For Canadians investing in 2026, quality matters more than ever. Volatile markets separate resilient businesses from those simply riding a cycle. Our list prioritizes companies with durable earnings, strong balance sheets, and long track records of creating shareholder value.

1. Barrick Mining (TSX:ABX)

• Rating: ⭐⭐⭐⭐⭐
• Price: $63.54
• 52 Week Range: 36.67 – 74.0
• Market Cap: C$104.6B
• PE Ratio (TTM): 11.85
• EPS (TTM): 5.36
• Earnings Date: N/A
• Forward Dividend & Yield: $0.98 (1.54%)
• Ex-Dividend Date: August 30, 2026
• Data as of 2026-08-29. Source: Yahoo Finance.

Barrick Mining is one of the world’s largest gold producers, with operations on four continents and a portfolio of long-life, low-cost mines. It has been the single best performer on our list this year: the stock is up roughly 74% over the past twelve months on the strength of the gold market (data as of August 28, 2026, Source: StockAnalysis).

The earnings power is following the metal. Q2 2026 net earnings rose 50% year-over-year to $1.2 billion, and on August 10, 2026, Barrick settled its Nevada Gold Mines dispute with joint-venture partner Newmont in a deal worth roughly US$4 billion in combined value, clearing the way for its planned year-end IPO of its North American gold assets, including its Nevada Gold Mines interest and the Fourmile discovery.

Under its new dividend policy, Barrick pays a base quarterly dividend of $0.175 per share plus a variable year-end top-up tied to free cash flow; a strong Q4 2025 pushed that year-end top-up 140% higher. On a steady-state basis the forward yield is a modest 1.5%, so this is a gold-price and IPO story first, an income story a distant second.

The risks: Barrick’s fortunes track the gold price, and after a historic run, gold has more room to disappoint than it did a year ago. The planned corporate split also introduces execution risk and uncertainty about what each piece will look like post-separation. Prefer a broader approach? See our full ranking of the best Canadian mining stocks.

2. Toronto-Dominion Bank (TSX:TD)

• Rating: ⭐⭐⭐⭐⭐
• Price: $168.61
• 52 Week Range: 101.85 – 175.33
• Market Cap: C$276.3B
• PE Ratio (TTM): 18.07
• EPS (TTM): 9.33
• Earnings Date: N/A
• Forward Dividend & Yield: $4.48 (2.66%)
• Ex-Dividend Date: October 08, 2026
• Data as of 2026-08-29. Source: Yahoo Finance.

A year ago, TD was the discounted problem child of Canadian banking, weighed down by its US$3+ billion anti-money-laundering settlement and an asset cap on its U.S. operations. Betting on the recovery has paid off: TD is one of the best-performing Big Six banks over the past twelve months (data as of August 28, 2026, Source: StockAnalysis).

The latest results show why. TD reported record third-quarter earnings on August 27, 2026, leading a week in which all six big Canadian banks beat estimates (see our Big Six Q3 2026 scorecard). Under CEO Raymond Chun, the bank has redeployed capital from its 2025 exit of its Charles Schwab stake into buybacks and its core franchises, and management said on the Q3 call it has delivered roughly C$195 million (about US$141 million) in AI-driven value in the first three quarters of fiscal 2026, essentially hitting its full-year target three quarters in.

The risks: The easy re-rating is largely done, and the stock trades close to its 52-week high. The U.S. asset cap remains in place, capping growth in the business that was supposed to be TD’s engine, and a yield in the mid-2% range is solid, not spectacular. This is now a pay-fair-price-for-quality holding rather than a deep-value one. For the full sector picture, see our ranking of the best Canadian bank stocks.

3. Canadian Tire (TSX:CTC.A)

• Rating: ⭐⭐⭐⭐⭐
• Price: $190.27
• 52 Week Range: 159.2 – 208.08
• Market Cap: C$9.9B
• PE Ratio (TTM): 14.97
• EPS (TTM): 12.71
• Earnings Date: N/A
• Forward Dividend & Yield: $7.20 (3.78%)
• Ex-Dividend Date: October 29, 2026
• Data as of 2026-08-29. Source: Yahoo Finance.

Canadian Tire is one of Canada’s most recognizable and resilient retailers, operating more than 1,700 stores across its Canadian Tire, SportChek, and Mark’s banners. Its revenue is almost entirely domestic, which turned from a limitation into an advantage the moment U.S. tariffs pushed Canadian shoppers toward Canadian retailers.

The momentum from that shift is still showing up in the numbers. Canadian Tire reported Q2 2026 results on August 13, 2026, with normalized diluted EPS of $3.94, up 10% year-over-year, and 14% growth in e-commerce sales, driven by gains at SportChek and Mark’s alongside cost discipline. Analysts responded by pushing price targets higher.

The dividend is the quiet star: at $7.20 per share annually, Canadian Tire has raised its payout for 16 straight years, and the trailing earnings multiple prices in very little of the progress under its True North transformation strategy.

The risks: Canadian Tire sells discretionary goods to a consumer who is still absorbing elevated prices and mortgage renewals. A weakening job market would hit same-store sales fast, and the analyst consensus of Hold, with a price target only modestly above the current share price, reflects a market that sees steady rather than explosive upside from here.

4. Dollarama (TSX:DOL)

• Rating: ⭐⭐⭐⭐
• Price: $175.92
• 52 Week Range: 166.0 – 209.96
• Market Cap: N/A
• PE Ratio (TTM): 36.20
• EPS (TTM): 4.86
• Earnings Date: N/A
• Forward Dividend & Yield: $0.45 (0.26%)
• Ex-Dividend Date: July 09, 2026
• Data as of 2026-08-29. Source: Yahoo Finance.

Headquartered in Montreal, Dollarama has quietly become one of the great compounders on the TSX, pairing a dominant Canadian value-retail network with a fast-growing Latin American footprint through Dollarcity and a nascent expansion into Australia.

The most recent results put to rest the weather-related soft patch that spooked the market earlier in 2026: fiscal Q1 2027 sales grew 21.4%, Canadian same-store sales rose 5.6%, and gross margins improved. Several analysts raised their price targets afterward, and the company renewed its share buyback program. With inflation still elevated and household budgets stretched, the traffic driver for a value retailer remains intact, one of the few businesses on this list that is helped, not hurt, by the pressures threatening the others.

The risks: Quality at this level is never cheap. Dollarama trades at one of the richer multiples on this list, and its sub-1% dividend yield offers little downside cushion if sentiment turns. Fiscal Q2 results, due mid-September 2026, are the next test.

5. Shopify (TSX:SHOP)

• Rating: ⭐⭐⭐⭐
• Price: $212.42
• 52 Week Range: 129.01 – 253.1
• Market Cap: C$275.6B
• PE Ratio (TTM): 103.62
• EPS (TTM): 2.05
• Earnings Date: N/A
• Forward Dividend & Yield: N/A (N/A)
• Ex-Dividend Date: N/A
• Data as of 2026-08-29. Source: Yahoo Finance.

Shopify is Canada’s largest technology company by market cap and the operating system for global commerce, powering millions of merchants across 175 countries through web stores, retail locations, social platforms, and now AI agents.

Growth has not slowed. Q2 2026 revenue rose 34% year-over-year, beating expectations. The agentic-commerce bet is compounding too: traffic arriving at Shopify stores from AI assistants has grown sharply as shoppers skip the traditional search bar, and the company keeps extending its rails, taking Shop Pay Installments to Australia through its Affirm partnership in an August 27, 2026 launch.

This is also the pick with the longest track record on this site. We first recommended Shopify in June 2023, when the stock had fallen back to $41.09 (a price we can confirm was on this page at the time via web.archive.org). At $212.42 as of August 28, 2026, readers who followed that call are sitting on roughly a 417% gain in a little over three years, with no stock splits in between to complicate the math. The thesis then was that the market was pricing a generational commerce platform like a broken pandemic stock. The thesis now is simpler: only a fraction of retail happens online, AI agents are opening a new front door to commerce, and Shopify owns more of that infrastructure every quarter.

The risks: Shopify trades at a triple-digit trailing earnings multiple, which leaves little room for a growth stumble, and its 52-week range shows how violently this stock can reprice within a single year. Size it like the growth stock it is, a core holding, not a whole portfolio.

6. Enbridge (TSX:ENB)

• Rating: ⭐⭐⭐⭐
• Price: $69.76
• 52 Week Range: 62.42 – 80.65
• Market Cap: C$152.4B
• PE Ratio (TTM): 26.93
• EPS (TTM): 2.59
• Earnings Date: N/A
• Forward Dividend & Yield: $3.88 (5.56%)
• Ex-Dividend Date: August 13, 2026
• Data as of 2026-08-29. Source: Yahoo Finance.

New to the list, Enbridge takes the income slot that Telus held in our previous ranking, and the handover is the whole story. Telus cut its dividend 55% on July 31, 2026. Enbridge, by contrast, announced its 31st consecutive annual dividend increase in December 2025 and has paid a dividend for over 70 years without missing one. When the job is reliable income, track record is the product, and few Canadian large caps sell a better one.

Enbridge operates one of North America’s largest energy infrastructure networks: a continent-spanning liquids pipeline system, a major natural gas transmission and utility franchise, and a growing renewables arm. Cash flows are overwhelmingly contracted or regulated, which is why the dividend survived every oil crash of the past three decades. The growth engine is busier than it has been in years: in August 2026 alone, Enbridge formed a roughly $2 billion joint venture with KKR and Apollo Global Management to expand its British Columbia pipeline network, and acquired Salt Creek Midstream’s Permian Basin crude-gathering business for $600 million. CIBC upgraded the stock to Outperformer shortly after.

The risks: Enbridge carries substantial debt, as all pipeline operators do, and its trailing earnings multiple is not cheap for a slow-growth business. If interest rates stay higher for longer, yield stocks face a persistent headwind, and long-run energy-transition policy remains a structural question mark over fossil-fuel infrastructure. You are buying the yield and mid-single-digit growth here, not a double. (New addition to this ranking; a company photo will be added in a future update.)

7. Aritzia (TSX:ATZ)

• Rating: ⭐⭐⭐⭐
• Price: $130.68
• 52 Week Range: 79.4 – 174.52
• Market Cap: C$15.0B
• PE Ratio (TTM): 34.12
• EPS (TTM): 3.83
• Earnings Date: N/A
• Forward Dividend & Yield: N/A (N/A)
• Ex-Dividend Date: N/A
• Data as of 2026-08-29. Source: Yahoo Finance.

Aritzia is a household name among its core Canadian demographic, while most Americans are still discovering the brand. That gap remains the investment thesis, and it keeps closing on schedule.

The Vancouver-based “Everyday Luxury” retailer opened fiscal 2027 (reported July 9, 2026) with net revenue up 43% year-over-year, a record gross margin, and further adjusted EBITDA margin expansion, and management raised full-year guidance to 23-28% revenue growth. In June 2026, Aritzia selected Adyen to power payments across its roughly 140 North American boutiques, its website, and its app, a step toward a more seamless experience as the U.S. rollout continues. The stock has been one of the strongest performers on this list over the past year, and the analyst consensus price target sits well above the current share price after a round of increases.

What makes Aritzia rare is self-funded growth: no dividend, and a U.S. store rollout that pays for itself with fast payback periods while the brand compounds. Few Canadian companies get a runway this long in the world’s biggest consumer market.

The risks: At a rich trailing earnings multiple, execution has to stay near-perfect, and fashion retail punishes missteps quickly. Tariffs continue to pressure apparel supply chains, and a U.S. consumer slowdown would hit the growth engine directly. The wide 52-week range tells you what this stock does when sentiment turns. Size it like the growth stock it is.

Aritzia earnings scorecard: the numbers behind the call

Everything here comes from Aritzia’s own Q1 Fiscal 2027 earnings release for the 13 weeks ended May 31, 2026 — not from a data aggregator. Net revenue reached $951.0 million, up 43.4% from the same quarter last year, with comparable sales up 35.1%. Net income more than doubled to $117.3 million and diluted EPS rose 175% to $0.99. Gross profit margin expanded 310 basis points to 50.3% while SG&A fell 150 basis points to 32.0% of revenue — growing revenue faster than costs is the combination that turns a good top line into operating leverage, and adjusted EBITDA margin widened 410 basis points to 20.1%.

The United States is now the bigger business. US net revenue of $638.1 million grew 54.5% and accounted for 67.1% of the company total, against $312.9 million and 25.0% growth in Canada. By channel, eCommerce grew fastest at 55.5% while retail grew 38.7%. Aritzia ended the quarter with 143 boutiques, up from 131 a year earlier. This is a Canadian retailer whose growth engine is American expansion, which is the single most important thing to understand about the stock.

Management raised its outlook. Aritzia now guides to full-year Fiscal 2027 net revenue of $4.55 billion to $4.75 billion, roughly 23% to 28% growth, up from its prior $4.4 billion to $4.6 billion range. It also lifted its adjusted EBITDA margin outlook to approximately 19.5% from about 19%, against 17.8% in Fiscal 2026, and expects 12 to 13 new boutiques plus four to five repositions, with the large majority in the United States. For the second quarter specifically the company guides to net revenue of $1.100 billion to $1.125 billion.

What to weigh against it. Inventory rose 33.8% to $547.8 million — below revenue growth, but inventory is always the number to watch in apparel retail, because a fashion miss shows up there first and in markdowns later. Aritzia pays no dividend, returning capital through share repurchases instead, so the entire return case rests on growth continuing. And a company guiding to 23% to 28% growth is a company whose share price already assumes it delivers.

Source: Aritzia Inc. Q1 Fiscal 2027 Earnings Release (13 weeks ended May 31, 2026), retrieved from Aritzia investor relations. Figures are as reported by the company; adjusted measures are labelled as such.

8. Brookfield Asset Management (TSX:BAM)

• Rating: ⭐⭐⭐⭐
• Price: $72.47
• 52 Week Range: 58.09 – 86.51
• Market Cap: C$115.8B
• PE Ratio (TTM): 30.07
• EPS (TTM): 2.41
• Earnings Date: N/A
• Forward Dividend & Yield: $2.82 (3.89%)
• Ex-Dividend Date: August 30, 2026
• Data as of 2026-08-29. Source: Yahoo Finance.

Brookfield Asset Management is one of the world’s leading alternative asset managers, earning recurring fees on capital locked up for years or decades across infrastructure, renewables, real estate, private equity, and credit.

The operating results are running at record levels: Q2 2026 was the strongest fundraising quarter in the firm’s history, with $77 billion raised. The strategic moves keep compounding too. Brookfield completed its full acquisition of Oaktree, anchoring a $365 billion credit platform, closed the Boralex renewables deal alongside La Caisse, and anchored its own $100 billion AI Infrastructure Program alongside Nvidia and the Kuwait Investment Authority, committing an initial $5 billion. Brookfield is also one of six major asset managers, alongside Apollo, Blackstone, BlackRock, Goldman Sachs, and KKR, reported to be assembling a much larger, roughly $500 billion Nvidia-linked financing consortium for AI compute infrastructure.

Meanwhile the stock is down over the past twelve months even as fundraising hit records (data as of August 28, 2026). Record fundraising alongside a falling share price is the setup value investors look for, and the dividend pays you to wait for the gap to close.

The risks: BAM is not cheap on conventional earnings metrics, and fee growth depends on institutional allocators continuing to fund private markets. A prolonged fundraising slowdown or a credit event in private markets would hit both the fee base and the multiple. The stock’s underperformance this year reflects the market weighing exactly those questions.

9. Canadian Natural Resources (TSX:CNQ)

• Rating: ⭐⭐⭐
• Price: $68.14
• 52 Week Range: 41.67 – 70.99
• Market Cap: C$140.5B
• PE Ratio (TTM): 12.12
• EPS (TTM): 5.62
• Earnings Date: N/A
• Forward Dividend & Yield: $2.50 (3.67%)
• Ex-Dividend Date: September 10, 2026
• Data as of 2026-08-29. Source: Yahoo Finance.

Headquartered in Calgary, Canadian Natural Resources is Canada’s premier oil and natural gas producer, built on long-life, low-decline assets that keep generating cash at almost any point in the commodity cycle.

The streak that defines the company: 26 consecutive years of dividend increases, sustained through oil crashes, a pandemic, and everything in between. The current quarter extended the operational record too, with Q2 2026 setting new highs for production, adjusted earnings, and adjusted funds flow, and management raised 2026 production guidance afterward. Analysts responded with a wave of price-target increases, and the consensus rating sits at Buy.

At a still-modest trailing earnings multiple with a dividend yield near 3.7%, CNQ remains one of the cheaper ways to own world-class energy assets. For broader sector exposure, see our best Canadian energy stocks ranking.

The risks: CNQ’s earnings ride the oil price, and a global slowdown that pushes crude meaningfully lower would compress cash flow quickly. The company has also paused major expansion projects pending a new federal-provincial regulatory framework, a policy overhang outside management’s control. Buy it for the dividend machine, and accept that the share price will swing with the barrel.

10. Constellation Software (TSX:CSU)

• Rating: ⭐⭐⭐
• Price: $3163.56
• 52 Week Range: 2196.0 – 4634.98
• Market Cap: C$67.0B
• PE Ratio (TTM): 50.36
• EPS (TTM): 62.82
• Earnings Date: N/A
• Forward Dividend & Yield: $5.57 (0.18%)
• Ex-Dividend Date: September 17, 2026
• Data as of 2026-08-29. Source: Yahoo Finance.

Constellation Software is the most remarkable long-term compounder on the Toronto Stock Exchange. Founded by Mark Leonard in 1995, it acquires vertical market software businesses, the niche, mission-critical tools that run veterinary clinics, utilities, and property managers, and compounds their cash flows through further acquisitions, decade after decade.

The AI fear that cut the stock nearly in half from its 2025 peak is meeting the counter-evidence. Q2 2026 net income climbed to $274 million from $56 million a year earlier as acquisitions kept adding revenue, and management said AI is boosting its own development productivity while conceding the organic-growth payoff has not fully materialized yet. The customer base, whose software runs their daily operations, is not churning to AI alternatives in the numbers.

The recovery is underway but incomplete: the stock has climbed well off its 52-week low, though it remains meaningfully below its high (data as of August 28, 2026). For a business of this quality, entry points like this have been rare.

The risks: The AI question is not settled, it is simply not showing up in the numbers yet. If vertical software moats do erode, the thesis breaks slowly and then all at once. The stock is not cheap on a trailing basis, succession from founder Mark Leonard is a genuine long-term question, and the near-zero yield means shareholders are paid only in compounding.

Ranking The Top 5 Investing Apps in Canada

Choosing the right platform matters nearly as much as picking the right companies. Here are five of the best investing apps available to Canadians in 2026:

1. Questrade® – $0 commissions on stocks and ETFs and the broadest toolkit of account types 2. Wealthsimple – $0 commission stock trading with the simplest experience for beginners 3. Interactive Brokers – Top choice for active options traders in Canada 4. CIBC Investor’s Edge – Bank-owned option with discounted pricing for young investors 5. National Bank Direct Brokerage – $0 commission trading from a Big Six bank

Both Questrade® and Wealthsimple offer zero-commission trading on Canadian and U.S. stocks and ETFs. Wealthsimple is the easier on-ramp for beginners; Questrade®’s broader account types and tools give you more room to operate as your portfolio grows. Either way, you pay $0 in commissions, which is more than can be said for most bank brokerages.

We compare all of these platforms, with fees verified, in our full guide to the best stock trading apps in Canada.

Toronto Stock Exchange

Based in Toronto’s Financial District, the Toronto Stock Exchange (TSX) is owned by TMX Group and is the third-largest stock exchange in North America by market capitalization. More mining and oil and gas companies list on the TSX than on any other exchange in the world, making it the global hub for resource investment, and it is home to all of Canada’s major banks alongside technology leaders like Shopify and Constellation Software.

Together with its venture arm, the TSXV, the exchange lists more than 3,200 companies, from large-cap blue chips to early-stage resource plays. Regular trading runs 9:30 am to 4:00 pm ET on trading days, with a post-market session to 5:00 pm ET.

Top-10 Dividend Stocks In Canada

Even with the TSX near record highs, dividend stocks remain the backbone of Canadian portfolios, and this year delivered a hard lesson in choosing them well: two of Canada’s telecom giants, Telus and BCE, have now cut their dividends since 2025.

The stocks below are our current top dividend payers on the TSX, rated on buy attractiveness today, not just business quality. A great company at the wrong price earns fewer stars than a good company at the right one.

Stock	Rating	Forward Dividend	Yield
Fortis (FTS)	⭐⭐⭐⭐⭐	$2.56	3.37%
Enbridge (ENB)	⭐⭐⭐⭐⭐	$3.88	5.60%
Toronto-Dominion Bank (TD)	⭐⭐⭐⭐⭐	$4.48	2.66%
Canadian Natural Resources (CNQ)	⭐⭐⭐⭐⭐	$2.50	3.67%
Emera (EMA)	⭐⭐⭐⭐	$2.93	4.22%
National Bank (NA)	⭐⭐⭐⭐	$5.28	2.48%
BCE Inc. (BCE)	⭐⭐⭐	$1.75	5.34%
Brookfield Infrastructure Partners (BIP.UN)	⭐⭐⭐	$2.48	4.68%
Royal Bank (RY)	⭐⭐⭐	$7.04	2.48%
Algonquin Power & Utilities (AQN)	⭐⭐⭐	$0.36	4.54%

All forward dividends and yields: Source: StockAnalysis, data as of August 28, 2026. Yields move with share prices.

Notable change from our last table: Telus is out following its July 31, 2026 dividend cut, replaced by CNQ and its 26-year increase streak. For deeper analysis of every name, see our dedicated ranking of the best Canadian dividend stocks.

Which Canadian Stocks Have The Highest Dividend Yield?

Among well-known large caps, Enbridge now leads at 5.60%, backed by 31 consecutive years of dividend increases, followed by BCE at 5.34%, though BCE itself cut its dividend by more than half in 2025 and is still rebuilding credibility with income investors (all yields as of August 28, 2026, Source: StockAnalysis).

This year supplied the definitive lesson on yield-chasing. Telus used to offer one of the highest yields among major Canadian companies alongside a plausible deleveraging story. On July 31, 2026 it cut its dividend 55%, from $0.4184 to $0.1875 per share quarterly, alongside a large quarterly loss, and the stock is down sharply over the past year. The market was not offering that yield for free; it was pricing in a cut months in advance.

Before buying any yield that looks unusually high relative to its sector, check free cash flow coverage and the trajectory of debt. A sustainable yield from a company like CNQ, raised for 26 straight years, is worth more than a headline yield the underlying business cannot defend.

Best Canadian Penny Stocks and Undervalued Names

The TSX Venture Exchange lists hundreds of early-stage resource and technology companies that can deliver outsized returns when management executes, and severe losses when it does not. Micro-caps we’ve previously profiled on this page, including helium developer Avanti Helium Corp. (TSXV:AVN) and oil producer Saturn Oil & Gas Inc. (TSX:SOIL), now live in our dedicated guide with full risk framing and current names.

Penny stocks demand more due diligence than any blue chip on this page: limited liquidity, short financial histories, and single-project business models are the norm, and no penny stock deserves more than a small slice of a diversified portfolio. If you understand the risks, our guide to the best Canadian penny stocks covers screening criteria and current picks.

Best Canadian Stocks To Buy By Sector

• Energy – Enbridge Inc. (TSX:ENB)
• Mining – Barrick Mining (TSX:ABX)
• Industrials – Thomson Reuters (TSX:TRI)
• Utilities – Fortis (TSX:FTS)
• Healthcare – Jamieson Wellness (TSX:JWEL)
• Bank Stocks – Toronto-Dominion Bank (TSX:TD)
• Consumer Discretionary – Dollarama (TSX:DOL)
• Consumer Staples – Loblaw Companies (TSX:L)
• Technology – Shopify (TSX:SHOP)
• Communication Services – Rogers Communications (TSX:RCI.B)
• REIT Stocks – Granite Real Estate Investment Trust (TSX:GRT.UN)

Sector note: Rogers replaces Telus as our communication services pick. With Telus and BCE both having cut their dividends since 2025, Rogers is the major carrier still growing, with Q2 2026 service revenue up 8%, free cash flow up 6%, and a dividend yielding 3.94% with no cut (Source: StockAnalysis, data as of August 28, 2026). For mining depth beyond Barrick, see our best Canadian mining stocks guide.

Types of Investment Accounts in Canada

Where you hold your stocks matters almost as much as what you buy. Canadian investors have four main options, and we maintain a dedicated, regularly updated guide for each registered account. As a general rule: use your TFSA for your highest-conviction growth ideas, since every dollar of gain comes out completely tax-free; use your RRSP for steadier, dividend-leaning holdings and any U.S. dividend stocks, since decades of tax-deferred compounding suit patient income investing and the Canada-U.S. tax treaty waives U.S. withholding tax on dividends held inside an RRSP.

TFSA (Tax-Free Savings Account). Every dollar of growth and every withdrawal is tax-free. The 2026 annual limit is $7,000, with up to $109,000 in cumulative room if you have been eligible since 2009. Our complete guide to the best TFSA stocks in Canada covers the rules, the limits table, and our current picks.

RRSP (Registered Retirement Savings Plan). Contributions reduce your taxable income now and grow tax-deferred for decades. The 2026 deduction limit is $33,810 or 18% of your previous year’s earned income, whichever is lower. See our full guide to the best RRSP stocks for retirement, including the dividend payers we rank for long horizons.

FHSA (First Home Savings Account). First-time buyers get RRSP-style deductions on the way in and TFSA-style tax-free withdrawals for a qualifying home purchase. Our FHSA investment strategy guide matches investments to your buying timeline.

Non-registered and margin accounts. No contribution limits, full flexibility, and full taxation: investment income is taxable, though capital losses can offset gains. Margin accounts add borrowing power and correspondingly larger risk, including the possibility of losing more than you deposited. Most investors should fill their TFSA and RRSP room first.

If you are choosing your first stocks as well as your first account, our best Canadian ETFs guide covers one-fund portfolio options too.

Are Stocks Taxed In Canada? (Capital Gains In Brief)

In Canada, 50% of a realized capital gain is included in your taxable income and taxed at your marginal rate; gains inside a TFSA, RRSP, or FHSA are sheltered from this entirely. The federal government’s proposed increase of the inclusion rate to two-thirds was cancelled on March 21, 2025 and never took effect, so one-half remains the rate for 2026 (Source: Department of Finance Canada, canada.ca). Capital losses in non-registered accounts can offset gains in the current year, the three previous years, or any future year.

Is Canada Headed For A Recession?

Not on the current numbers. The TSX set an all-time intraday high of 37,069.11 in August 2026 and closed the month up roughly 28% year-over-year (Source: Trading Economics, data as of August 28, 2026), and this week all six big banks beat earnings estimates, evidence that credit conditions remain healthy.

The watch items are inflation and trade. U.S. tariffs remain in force on a range of Canadian exports, the CUSMA review is unresolved, and the Bank of Canada has held its policy rate at 2.25% for several consecutive meetings while it weighs price pressures against tariff-squeezed exports. Its next decision lands Wednesday, September 2, 2026, with markets broadly expecting another hold.

The honest summary for investors: the acute recession fears from earlier this year have faded, but a market near record highs means valuations already assume the good news continues. Own quality, keep buying on a schedule, and let the macro argue with itself.

Frequently Asked Questions

What are the best Canadian stocks to buy right now?

Our top-ranked Canadian stocks for 2026 are Barrick Mining, TD Bank, Canadian Tire, Dollarama, and Shopify, followed by Enbridge, Aritzia, Brookfield Asset Management, Canadian Natural Resources, and Constellation Software. Each offers durable earnings and a distinct role in a portfolio, from Barrick’s gold leverage to Enbridge’s 5.60% dividend yield (data as of August 28, 2026).

Which Canadian stock pays the highest dividend?

Among major TSX companies, Enbridge currently offers the highest reliable yield at 5.60%, supported by 31 consecutive years of dividend increases. BCE yields 5.34% but cut its dividend by more than half in 2025. Yields well above the sector average deserve extra scrutiny of cash flow coverage (data as of August 28, 2026).

Is now a good time to buy Canadian stocks with the TSX at record highs?

Buying at record highs feels uncomfortable, but the rally is supported by record bank and energy earnings rather than pure speculation. The practical approach is dollar-cost averaging into quality companies rather than trying to time a pullback, and favouring picks whose valuations have not fully re-rated.

What happened to the Telus dividend?

Telus cut its quarterly dividend 55% on July 31, 2026, from $0.4184 to $0.1875 per share, while reporting a large quarterly loss. The cut is intended to redirect roughly $2.7 billion toward debt repayment through 2028. We removed Telus from our top-10 ranking as a result and replaced it with Enbridge.

How are stocks taxed in Canada?

In non-registered accounts, 50% of realized capital gains are added to your taxable income, and dividends are taxed with the dividend tax credit. Stocks held inside a TFSA, RRSP, or FHSA grow tax-sheltered, which is why we suggest filling registered accounts first.

What is the best app for buying Canadian stocks?

Questrade® and Wealthsimple both offer $0 commissions on Canadian and U.S. stocks and ETFs (fee structures verified August 28, 2026). Wealthsimple is the simplest choice for beginners; Questrade® offers more advanced tools and account types as your portfolio grows.

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Disclaimer: The content on bestcanadianstocks.ca is for informational and entertainment purposes only and does not constitute financial advice. Past performance is not indicative of future results. Always consult a qualified financial advisor before making investment decisions. Block data via Yahoo Finance; other figures via StockAnalysis and named sources as of August 28, 2026. Questrade® is a registered trademark and/or service mark of Questrade, Inc.