Top 10 Canadian Dividend Stocks for TFSA

The quintessential TFSA income holding — 31 consecutive annual dividend increases, 7%+ eligible dividend yield, and ~90% fee-based contracted cash flows that barely move when oil prices swing. The CA$39B secured project backlog extends the growth runway to 2030.

52 consecutive years of annual dividend growth — the longest streak of any Canadian company. Fully regulated North American utility with a CA$28.8B five-year capital plan (2026–2030) supporting 4–6% annual dividend growth guidance through the decade.

25-year dividend growth streak with a policy of returning 60–100% of free cash flow to shareholders. Long-life oil sands assets deliver some of the lowest sustaining capital costs in the industry, underpinning the most resilient dividend in Canadian energy.

Canada's most profitable bank, dividend hiked to C$1.64/quarter in Q1 2026 (+C$0.10). Eligible dividends compound tax-free in a TFSA — at 8% average annual dividend growth, the yield on cost in 10 years is ~7.8% on today's purchase.

Record Q1 2026 EPS with nine consecutive years of dividend growth at a conservative mid-40% payout ratio. CIBC's TFSA angle: eligible dividends, improving profitability, and the deepest valuation discount among the Big Six.

3.3% eligible dividend yield with a 2.9% hike in Q1 2026. TD is the only Big Six bank with a structural U.S. footprint — the asset cap overhang creates a buying opportunity for income investors with a 2–3 year horizon.

196 consecutive years of dividend payments — the longest of any Canadian company across any sector. Q1 2026 dividend hiked to C$1.67/share; 10-year average growth rate of 7.4% with zero cuts ever recorded.

5.4B returned to shareholders in 2025 (72% of core earnings). The Asia insurance franchise growing 22% YoY funds an expanding eligible dividend with a target payout ratio of 65–75% — conservative for a company growing earnings ~15% annually.

Post-reset 9%+ eligible dividend yield at ~$30/share — the highest current yield on the TSX among large-caps. The 2025 dividend reset to C$1.75 was painful but necessary; FCF grew 10% YoY and leverage is declining toward 3.5x by 2027.

TELUS paused dividend growth in December 2025 to accelerate deleveraging (target 3.0x by 2027), but the 5%+ yield is maintained at C$1.67 annualised. TELUS Health and TELUS Agriculture add diversification beyond pure telecom at a lower valuation than BCE.