What are the 10 Highest-paying Canadian Dividend Stocks?

In this article, we will discuss what are the 10 highest paying Canadian dividend stocks.

Dividend Stocks: A Steady Way to Build Wealth

Dividend stocks offer a compelling way to earn passive income—essentially paying you just for owning them. The amount you receive depends on the company’s dividend yield and the price of the stock. For example, if a stock trades at $12 and offers a 4% yield, you’d earn $0.48 per share annually.

One of the best strategies for building reliable, long-term income is by owning a diversified portfolio of dividend-paying stocks. Not only can these stocks generate consistent cash flow, but they also have the potential to appreciate in value over time—offering the best of both income and growth.

Most dividend-paying companies are well-established, large-cap businesses with solid cash flow, recognizable brands, and dependable earnings. Because of this stability, dividend stocks are often less volatile than growth or small-cap stocks. While they may not always deliver explosive returns, they’re a great option for conservative investors or those nearing retirement who value income and consistency over rapid growth.

Following are the 10 highest-paying Canadian dividend stocks:

Fortis Inc. (TSX:FTS)

Fortis is a utility giant that operates 10 regulated electricity and gas transmission and distribution businesses across Canada, the U.S., and even the Caribbean. The company oversees assets valued at approximately $58 billion.

What sets Fortis apart is its revenue stability—around 99% of its income comes from regulated assets, meaning its cash flow is highly predictable. While Fortis doesn’t offer the highest dividend yield on the market, it provides unmatched reliability. Electricity is a basic need, and Fortis’s essential services ensure steady demand.

The utility has raised its dividend for 48 consecutive years and has a long-term plan in place to continue increasing payouts by 6% annually through at least 2025. With ongoing acquisitions and capital investments, Fortis remains a top choice for investors seeking safety and income.

BCE Inc. (TSX:BCE)

BCE is a cornerstone of Canada’s telecom industry, providing wireless, internet, and TV services to more than 10 million customers, which accounts for about 30% of the Canadian market.

Beyond its telecom operations, BCE also owns a significant media segment, offering content through radio, TV, and digital platforms. Its growing investment in 5G infrastructure supports long-term growth and keeps the business competitive in a fast-evolving space.

The company has increased its dividend for 14 straight years, typically by 5% or more annually. BCE’s combination of defensive sector exposure, recurring revenue, and consistent income makes it a standout dividend stock.

Enbridge Inc. (TSX:ENB)

Enbridge is a major player in North America’s energy infrastructure, handling about 30% of the continent’s crude oil transport. Its vast pipeline network spans oil, natural gas, and utility services, making it a vital link in the energy supply chain.

In addition to its core oil and gas operations, Enbridge is investing in the future by allocating capital to renewable energy projects like wind and solar, helping diversify its revenue base.

With a remarkable 27-year track record of consecutive dividend increases, Enbridge demonstrates long-term commitment to shareholders. Its combination of scale, resilience, and consistent payouts make it a compelling pick for income-focused investors.

Final Thoughts

By now, the readers would have gotten the answer to the question “What are the 10 Highest-paying Canadian Dividend Stocks?” Dividend stocks won’t always be the most exciting holdings in your portfolio, but their reliability and income potential make them essential, especially during market volatility. Fortis, BCE, and Enbridge all offer a combination of stability, long-term growth potential, and rising payouts, making them ideal candidates for a passive income portfolio.