Stock markets don’t move in a straight line. Periods of strong gains are often followed by bouts of volatility, which can make investors nervous about potential corrections. During uncertain times, many investors shift toward defensive companies that generate stable cash flow and dependable dividends.

Two Canadian stocks that can provide stability during market turbulence are Enbridge Inc. and Fortis Inc.. Both companies operate essential infrastructure businesses and have long track records of rewarding shareholders with steady dividends.

Enbridge: Energy Infrastructure With Reliable Income

Enbridge is one of North America’s largest energy infrastructure companies. Its operations include oil pipelines, natural gas transmission systems, and renewable energy projects. Because the company primarily earns revenue through long-term contracts and regulated assets, its cash flows tend to remain relatively stable even when commodity prices fluctuate.

One of Enbridge’s biggest attractions is its dividend. The company has increased its payout for decades and continues to deliver one of the highest yields among large Canadian companies. This makes it particularly appealing to income-focused investors.

In addition to its traditional pipeline business, Enbridge has also been expanding into natural gas utilities and renewable energy projects. These investments help diversify the company’s operations and support long-term growth while maintaining reliable cash generation.

Fortis: A Utility Built for Stability

Fortis is another defensive stock known for its predictable earnings. The company operates regulated electric and gas utilities across Canada, the United States, and the Caribbean. Because utility services are essential, demand tends to remain steady regardless of economic conditions.

A major strength of Fortis is its consistent dividend growth. The company has increased its dividend for decades, making it one of the most reliable income stocks available on the TSX. Its regulated business model provides stable revenue streams that support long-term dividend increases.

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Fortis also continues to invest heavily in infrastructure upgrades and grid modernization. These investments are expected to drive gradual earnings growth while maintaining the company’s conservative risk profile.

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During periods of market uncertainty, defensive companies can help protect a portfolio from major swings. Enbridge and Fortis both operate essential infrastructure businesses that generate steady revenue and strong dividends.