Dividend-paying companies continue to attract income-focused investors, but dividend reliability depends on much more than a high yield. The strongest opportunities often come from businesses with durable cash flows, disciplined financial strategies, and a consistent record of increasing shareholder payouts. Several Canadian companies have recently delivered impressive dividend hikes, reinforcing their long-term stability. Here’s a closer look at three standout names.
Telus: High Yield Supported by Strong Cash Flow
Telus has remained one of Canada’s most dependable dividend stocks, delivering steady payout growth backed by resilient subscription-based revenues. The telecom giant currently offers a yield of 8.34%, supported by predictable cash flows from long-term customer contracts.
The company boosted its quarterly dividend by 4% this month to $0.4184 per share, marking its 29th increase since 2011. Rising demand for digital connectivity, IoT solutions, remote work tools, and online education continues to reinforce its earnings strength.
Telus is also pursuing aggressive expansion, with approximately $70 billion earmarked for network upgrades, 5G infrastructure, new data centres, and advanced technology initiatives through 2029. Its healthcare division is also gaining momentum, driven by new products, cost optimization, and expanded service channels. These factors make Telus a compelling long-term choice for dividend investors.
Fortis: 52 Consecutive Years of Dividend Increases
Fortis remains one of Canada’s most consistent dividend-growth companies. The utility provider reported a solid quarter, with adjusted earnings per share rising 2.4% to $0.87. Growth in its regulated asset base and favourable currency movements helped offset higher expansion-related costs and expiring incentives.
The company raised its dividend by 4.1% to $0.64 per share, extending its streak to an impressive 52 years. Fortis currently offers a yield of 3.49%.
Looking ahead, the utility has announced a new $28.8 billion capital plan for 2026–2030, focused on expanding its rate base at a projected compound annual growth rate of 7%. This expansion is expected to support both earnings stability and continued dividend increases. Management has reaffirmed its commitment to 4–6% annual dividend growth through 2030.
READ: Small Canadian Alcohol Producers Struggle with Cross-Provincial Barriers, Calling for Urgent Reform
Waste Connections: 15 Years of Double-Digit Dividend Growth
Waste Connections continues to build on its strong reputation as a reliable dividend-growth company. The waste management leader raised its quarterly dividend by 11.1% last month to $0.35, marking its 15th straight year of double-digit payout expansion. The current forward yield stands at 0.82%.
Despite the modest yield, investors benefit from robust share appreciation potential. Waste Connections continues to grow through a balanced strategy of acquisitions and operational improvements. The company maintains strong cash flows and a healthy balance sheet, enabling sustained expansion.
Technology-driven safety enhancements and improved workforce retention have contributed to stronger margins and higher operational efficiency. With a steady acquisition pipeline and rising performance metrics, the company is well-positioned for continued dividend growth.
Overall Outlook
These three Canadian companies—Telus, Fortis, and Waste Connections—stand out for their proven ability to grow dividends in varying market conditions. Their solid fundamentals, long-term investment plans, and reliable cash flows make them appealing options for investors seeking a mix of income and stability.
