These 3 Companies Have Raised Dividends for 19 Years Straight

These are some of Canada’s most reliable and stable companies.

| More on:
The Motley Fool

You’re reading a free article with opinions that may differ from The Motley Fool’s premium investing services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The ideal holding in any portfolio is one that you don’t have to think about after buying it, one you can hold for the long term without having to worry. But how do you know which names can stand the test of time?

One way is to look at companies that have consistently raised dividends not just when times are good, but throughout the business cycle. On that note, the following three companies have increased their dividend for at least 19 years straight, including during the economic crisis.

1. Enbridge

It should come as no surprise that Enbridge (TSX: ENB)(NYSE: ENB) is on this list of long-term dividend growers. As Canada’s largest pipeline operator, Enbridge operates critical infrastructure and collects revenue based on long-term contracts. And of course, the company has benefited immensely from the growth in Canada’s energy sector.

This shows up in Enbridge’s numbers. The company has grown its dividend by an average of 13% per year over the past decade, and raised its dividend in each of the past 19 years. There’s no reason to expect this streak to stop — continued growth in the energy patch should translate into increased earnings for Enbridge. The company is growing earnings per share by 10% to 12% per year, and expects to grow its dividend at roughly the same rate.

2. Metro

Like pipelines, selling groceries is a fairly resilient business; after all, even if the economy is doing poorly, we all still need to eat. Over the past two decades, no grocery retailer has performed as consistently as Montreal-based Metro (TSX: MRU). The company has managed to earn a return on equity of at least 14% for each of the past 20 years, including during the economic crisis.

As a result, Metro has been able to raise its dividend every year over the same time period. There is plenty of reason to expect the dividend to increase further; last year, the company paid out only 20% of its adjusted earnings to shareholders.

3. Fortis

Fortis (TSX: FTS) is Canada’s largest investor-owned distribution utility, and also one of Canada’s most stable companies. This should surprise no one. Like Metro, Fortis sells a product that we all must continue to buy even when times are tough.

However, Fortis takes consistency to a whole new level, with 41 consecutive years of dividend growth. It also has a current dividend yield over 4%, well above those of Enbridge and Metro. Yield-focused investors should take notice.

Should you invest $1,000 in Canadian National Railway right now?

Before you buy stock in Canadian National Railway, consider this:

The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and Canadian National Railway wasn’t one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years.

Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the “eBay of Latin America” at the time of our recommendation, you’d have $20,697.16!*

Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 29 percentage points since 2013*.

See the Top Stocks * Returns as of 3/20/25

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Benjamin Sinclair holds no positions in any of the stocks mentioned in this article.

Confidently Navigate Market Volatility: Claim Your Free Report!

Feeling uneasy about the ups and downs of the stock market lately? You’re not alone. At The Motley Fool Canada, we get it — and we’re here to help. We’ve crafted an essential guide designed to help you through these uncertain times: "5-Step Checklist: How to Prepare Your Portfolio for Volatility."

Don't miss out on this opportunity for peace of mind. Just click below to learn how to receive your complimentary report today!

Get Our Free Report Today

More on Investing

Super sized rock trucks take a load of platinum rich rock into the crusher.
Dividend Stocks

Invest $25,000 in This Dividend Stock for $536.90 in Annual Passive Income

This dividend stock is one of the best options for those looking to create income long term.

Read more »

chart reflected in eyeglass lenses
Stock Market

Seize the Dip: 2 Investment Opportunities to Grab Now

The tariff-induced market dip has created an opportunity to seize the opportunity to buy the dip in these investment trends.

Read more »

A worker overlooks an oil refinery plant.
Dividend Stocks

Where I’d Put $10,000 in Top Canadian Energy Stocks This April for Dividend Income

These three energy stocks are ideal for income-seeking investors, given their solid cash flows and consistent dividend growth.

Read more »

An investor uses a tablet
Dividend Stocks

This Could Be the Top Canadian Dividend Stock to Buy Right Now

Here's why I think Enbridge (TSX:ENB) remains a top option for dividend investors in this current macroeconomic climate.

Read more »

Silver coins fall into a piggy bank.
Stocks for Beginners

Here’s How Many Shares of Scotiabank You Should Own to Get $5,000 in Annual Dividends

This dividend stock is a strong investment, but it could take a large investment to create this much income.

Read more »

senior man smiles next to a light-filled window
Dividend Stocks

How I’d Invest My $7,000 TFSA Across These 3 Canadian Stocks for Dividend Income

Investors looking for Canadian stocks for dividend income that can last decades should consider buying these three stocks today.

Read more »

A worker uses a double monitor computer screen in an office.
Dividend Stocks

National Bank vs. Bank of Montreal: How I’d Divide $12,000 Between Banking Stocks

Here's how I would think about splitting up a $12,000 prospective investment in National Bank of Canada (TSX:NA) and Bank…

Read more »

A train passes Morant's curve in Banff National Park in the Canadian Rockies.
Dividend Stocks

Canadian National Railway: How I’d Approach This Blue-Chip With $10,000 in 2025

Despite current macro headwinds, Canadian National Railway remains a rock solid, blue-chip pick for long-term investing.

Read more »