2026 Canadian Dividend Aristocrats: Analysis, Performance, and Insights

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The 2026 Canadian Dividend Aristocrats are Canadian stocks that have grown dividends for 5+ years. There are currently 97 stocks on the list. However, five years or more of dividend growth does not by itself qualify a stock as a Canadian Dividend Aristocrat. A company must meet three criteria to be included on the list:

Be a member of the S&P Canada BMI and Toronto Stock Exchange

Increased the regular cash dividend per share for 5+ consecutive years but can maintain the same dividend for a maximum of two successive years within those five years. For new additions, the company must have increased its dividend in the first year of the prior five years.

Have a market capitalization of at least CAD 300 million

In addition, the Canadian Dividend Aristocrats follow these rules.

The Index is weighted by dividend yield.

Individual stocks are capped at an 8% weighting and subject to a basket liquidity (BL) maximum weight. BL maximum weight is determined by dividing the three-month average daily value traded by the BL amount of CAD 100 million.

The Index is updated annually in January.

Notably, these criteria are very different from those used to determine the list of Dividend Aristocrats in the United States. These stocks can be found in the S&P 500 Dividend Aristocrats Index. There are currently 69 constituents of the U.S. index.

On the other hand, there are currently 97 constituents in the Canadian Index. These stocks can be found in the S&P/TSX Canadian Dividend Aristocrats Index. Note that some of the Canadian Dividend Aristocrats also trade on other exchanges.

Market Update of the Canadian Dividend Aristocrats 2026

The Canadian Dividend Aristocrats 2026 currently have a yield of about 3.58%, and the average forward price-to-earnings (P/E) ratio is approximately 16.12X.

The mean market capitalization is roughly CAD 34,917 million, and the median is approximately CAD 12,163 million. The market cap ranges between about CAD 592 million to CAD 320,129 million. The total market capitalization is CAD 3,386,935 million.

In 2025, the Canadian Dividend Aristocrats provided a total return of 19.11% after two annual positive returns in row and a negative return in 2022. The price return was 13.98%. This performance was worse than the S&P/TSX Composite Index in 2025 at 31.68%.

List of Canadian Dividend Aristocrats in 2026

TickerNameSectorWeight (%)

TTELUSCommunication3.14

SOBOSOUTH BOW CORPEnergy2.89

GEIGIBSON ENERGY INCEnergy2.59

WTEWESTSHORE TERMINALS INVESTMENT CORIndustrials2.27

ENBENBRIDGE INCEnergy2.17

CGOCOGECO INCCommunication2.15

CCACOGECO COMMUNICATIONS SUBORDINATECommunication2.04

PPLPEMBINA PIPELINE CORPEnergy2.03

CRT.UNCT REIT UNITS TRUSTReal Estate2.01

CNQCANADIAN NATURAL RESOURCES LTDEnergy2.01

ENGHENGHOUSE SYSTEMS LTDInformation Technology1.89

MTLMULLEN GROUP LTDIndustrials1.88

TPZTOPAZ ENERGY CORPEnergy1.83

TRPTC ENERGY CORPEnergy1.74

CPXCAPITAL POWER CORPUtilities1.71

CTC.ACANADIAN TIRE LTD CLASS AConsumer Discretionary1.54

CUCANADIAN UTILITIES LTD CLASS AUtilities1.54

BNSBANK OF NOVA SCOTIAFinancials1.5

GRT.UNGRANITE REAL ESTATE INVESTMENT STAReal Estate1.5

SLFSUN LIFE FINANCIAL INCFinancials1.49

EMAEMERA INCUtilities1.47

MGMAGNA INTERNATIONAL INCConsumer Discretionary1.43

KMP.UNKILLAM APARTMENT REIT UNITS CLASSReal Estate1.42

CAR.UNCANADIAN APARTMENT PROPERTIES REALReal Estate1.38

CVECENOVUS ENERGY INCEnergy1.37

BMOBANK OF MONTREALFinancials1.36

MI.UNMINTO APARTMENT REIT UNITS TRUSTReal Estate1.33

ACO.XATCO LTD CLASS IUtilities1.31

CMCANADIAN IMPERIAL BANK OF COMMERCEFinancials1.29

FTSFORTIS INCUtilities1.29

EIFEXCHANGE INCOME CORPIndustrials1.29

NWCNORTH WEST COMPANY INCConsumer Staples1.28

GSYGOEASY LTDFinancials1.27

NTRNUTRIEN LTDMaterials1.24

QSRRESTAURANTS BRANDS INTERNATIONAL IConsumer Discretionary1.24

GWOGREAT WEST LIFECO INCFinancials1.23

PBHPREMIUM BRANDS HOLDINGS CORPConsumer Staples1.22

ALAALTAGAS LTDUtilities1.2

MTYMTY FOOD GROUP INCConsumer Discretionary1.19

TDTORONTO DOMINIONFinancials1.17

MFCMANULIFE FINANCIAL CORPFinancials1.13

MFIMAPLE LEAF FOODS INCConsumer Staples1.11

NANATIONAL BANK OF CANADAFinancials1.11

TOUTOURMALINE OIL CORPEnergy1.11

POWPOWER CORPORATION OF CANADAFinancials1.08

BAMBROOKFIELD ASSET MANAGEMENT VOTINGFinancials1.06

IIP.UNINTERRENT REAL ESTATE INVESTMENT TReal Estate1.01

QBR.BQUEBECOR INC CLASS BCommunication1.01

JWELJAMIESON WELLNESS INCConsumer Staples0.99

OTEXOPEN TEXT CORPInformation Technology0.98

CNRCANADIAN NATIONAL RAILWAYIndustrials0.96

RYROYAL BANK OF CANADAFinancials0.94

IMOIMPERIAL OIL LTDEnergy0.94

AREAECON GROUP INCIndustrials0.93

HHYDRO ONE LTDUtilities0.9

NOANORTH AMERICAN CONSTRUCTION GROUPEnergy0.87

SISSAVARIA CORPIndustrials0.84

EQBEQB INCFinancials0.8

IAGIA FINANCIAL INCFinancials0.68

EMP.AEMPIRE LTD CLASS AConsumer Staples0.66

SAPSAPUTO INCConsumer Staples0.66

TFIITFI INTERNATIONAL INCIndustrials0.65

WFGWEST FRASER TIMBER LTDMaterials0.64

IFCINTACT FINANCIAL CORPFinancials0.63

ADENADENTRA INCIndustrials0.62

FTTFINNING INTERNATIONAL INCIndustrials0.59

CJTCARGOJET INCIndustrials0.59

RCHRICHELIEU HARDWARE LTDIndustrials0.54

CEUCES ENERGY SOLUTIONS CORPEnergy0.54

TATRANSALTA CORPUtilities0.52

XTMX GROUP LTDFinancials0.52

SJSTELLA JONES INCMaterials0.51

CCL.BCCL INDUSTRIES INC CLASS BMaterials0.5

GILGILDAN ACTIVEWEAR INCConsumer Discretionary0.5

TRITHOMSON REUTERS CORPIndustrials0.5

LNRLINAMAR CORPConsumer Discretionary0.5

TIHTOROMONT INDUSTRIES LTDIndustrials0.49

MRUMETRO INCConsumer Staples0.49

EFNELEMENT FLEET MANAGEMENT CORPIndustrials0.47

WNGEORGE WESTON LTDConsumer Staples0.43

ATDALIMENTATION COUCHE TARD INCConsumer Staples0.42

ALSALTIUS MINERALS CORPMaterials0.34

BDGIBADGER INFRASTRUCTURE SOLUTIONS LTIndustrials0.32

LLOBLAW COMPANIES LTDConsumer Staples0.31

HPS.AHAMMOND POWER SOLUTIONS INC CLASSIndustrials0.29

DOOBRP SUBORDINATE VOTING INCConsumer Discretionary0.29

FNVFRANCO NEVADA CORPMaterials0.27

WCNWASTE CONNECTIONS INCIndustrials0.27

FSVFIRSTSERVICE SUBORDINATE VOTING COReal Estate0.23

OROR ROYALTIES INCMaterials0.22

STNSTANTEC INCIndustrials0.22

WPMWHEATON PRECIOUS METALS CORPMaterials0.22

BNBROOKFIELD CORP CLASS AFinancials0.17

BYDBOYD GROUP SERVICES INCIndustrials0.1

SVISTORAGEVAULT CANADA INCReal Estate0.08

DOLDOLLARAMA INCConsumer Discretionary0.07

GFLGFL ENVIRONMENTAL SUBORDINATE VOTIIndustrials0.05

Source: iShares S&P/TSX Canadian Dividend Aristocrats Index ETF and S&P/TSX Canadian Dividend Aristocrats Index

Historical Performance

As a group, the Canadian Dividend Aristocrats have exhibited slightly lower total annualized returns with more volatility than the benchmark index, the S&P/TSX Composite Index.

Over the past decade, the Canadian Dividend Aristocrats have had an annualized total return of 11.94% and a standard deviation of 13.73%, while the benchmark, the S&P/TSX Composite Index, had an annualized total return of 13.67% and a standard deviation of 12.96%.

Over the trailing five years, the Canadian Dividend Aristocrats have had an annualized total return of 14.78% and a standard deviation of 11.38%. The benchmark has had annualized total returns of 17.1% and a standard deviation of 12.27%.

Source: S&P Dow Jones Indices

The table below shows the calendar year performance from 2016 to 2025.

Source: S&P Dow Jones Indices

Changes to the Canadian Dividend Aristocrats in 2026

On January 23, 2026, the S&P Dow Jones Indices announced the list would be changed effective February 2, 2026. A total of 12 stocks were added, and one stock was deleted from the list of Canadian Dividend Aristocrats. There were 97 companies on the list after the changes were completed.

Source: S&P Dow Jones Indices

Other Dividend Stock Lists

For U.S. stocks, we have previously provided the following lists:

List of Dividend Kings in 2026

List of Dividend Aristocrats in 2025

List of Dividend Champions in 2025

List of Dividend Contenders in 2025

List of Dividend Challengers in 2025

Dogs of the Dow in 2026

For UK stocks, we have written about the following:

UK High Yield Dividend Aristocrats 2025

Other dividend stock lists

Stocks Paying 100+ Years of Dividends

Canadian Stocks Paying 100+ Years of Dividends

FAQs About the Canadian Dividend Aristocrats 2026

The Canadian Dividend Aristocrats 2026 is relatively select since it comprises only 97 companies. This number is from the 1,800 companies listed on the Toronto Stock Exchange.

Canadian Dividend Aristocrats Sector Breakdown

The chart below shows the sector breakdown for the Canadian Dividend Aristocrats 2026 is seen in the chart below.

The primary sector is Energy at about 20.3%. The Energy sector tends to have fluctuating revenue, earnings, and cash flow but can generate decent returns over time. So, its presence in the top three is unsurprising because the share price increases as revenue and profits climb. In addition, some companies in the sector keep the payout ratio relatively low to allow for future dividend increases

Stocks from the Financials sector have the second most significant representation on the list of Dividend Aristocrats at about 17.2%. Stocks in the Financial sector tend to have more volatile earnings and cash flows that depend on the stock market valuation and interest rates.

Real Estate is the sector with the third highest representation, at approximately 13.7%. The Real Estate sector tends to have cyclical revenue, earnings, and cash flow but can generate decent returns over time.

These three sectors comprise the majority of the Canadian Dividend Aristocrats at 51.2%.

Source: S&P Dow Jones Indices

The sector ranking for the Canadian Dividend Aristocrats 2026 is unlike the US Dividend Aristocrats, which have Consumer Staples, Industrials, and Financial as the top three sectors.

It is also unlike the UK High Yield Dividend Aristocrats, which has Financials, Industrials, and Consumer Discretionary as the top three sectors.

Market Size of the Canadian Dividend Aristocrats 2026

The largest Canadian Dividend Aristocrat by market capitalization is the Royal Bank of Canada (TSE: RY), with a market capitalization of about CAD 228.07 billion. Conversely, the stock with the smallest market capitalization is Cogeco (TSE: CGO), with roughly CAD 697 million market capitalization. Combined, the 97 Canadian Dividend Aristocrats have a total market capitalization of over CAD 3.387 trillion.

Other Statistics

Canadian Utilities (TSE: CU) is the Canadian Dividend Aristocrat with the longest dividend increase streak at 54 years. Fortis Inc (TSE: FTS) has the second-longest streak of consecutive dividend increases at 51 years.

The top 10 members comprise about 23.3% of the Index and list. The greatest weighting is at 3.14%.