It’s all the time a good suggestion to personal just a few stable dividend shares in your portfolio. That’s very true when inventory markets are hovering to all-time highs and valuations appear stretched. The market might be due for a pullback. It’s good to have some shares that may earn earnings if the market hits a downturn.

In case you are searching for some nice Canadian dividend shares, listed below are 5 for any portfolio.

A high utility inventory for dividend development

Fortis (TSX:FTS) is a quintessential Canadian dividend inventory. The corporate has raised its dividend for 52 consecutive years. It’s an unimaginable observe file that speaks to the standard of its enterprise and property.

Fortis has a rock-solid utility enterprise that’s practically 100% regulated. Electrical and gasoline transmission and distribution property are important to society, so demand is predictable.

Fortis has a $28 billion funding plan that ought to assist develop earnings and its distribution by a 4–6% annual fee. FTS inventory yields 3.6% at the moment, however that can develop because it retains elevating its dividend.

Canada’s largest power inventory

Canadian Pure Assets (TSX:CNQ) is one other nice Canadian dividend development inventory. It has grown its dividend by a 21% compounded annual development fee (CAGR) over 25 years. For an power inventory, it’s an unimaginable file of consistency.

Canadian Pure’s inventory has struggled this 12 months provided that power costs have been depressed. CNQ trades with a beautiful 5.3% dividend yield.

Even with low power costs, it has nonetheless delivered 14% earnings per share development thus far this 12 months. Its a really top quality enterprise you don’t wish to move on simply because it’s an power inventory.

A high Canadian financial institution for earnings development

With a market cap of $290 billion, Royal Financial institution of Canada (TSX:RY) is Canada’s largest inventory. It additionally occurs to be one in every of Canada’s greatest banks. It has taken a dominant place as a high retail and business financial institution.

RY inventory has raised its dividend by a 7% CAGR for over 20 years. Royal is an extremely well-managed financial institution.

The Huge Six financial institution has averted lots of the errors that different main friends have made. Its high quality comes at the next valuation and a decrease dividend yield (3.2%), nevertheless it’s price proudly owning over the long term.

An actual property inventory for month-to-month dividends

Granite Actual Property Funding Belief (TSX:GRT.UN) is a superb inventory for month-to-month dividends. This actual property inventory owns a high-quality portfolio of institutional grade industrial, manufacturing, and logistics properties.

It has long-term leases (over 5 years) and robust 97% occupancy. Strong rental fee development is supporting 8% money movement per unit development thus far this 12 months.

But, Granite’s inventory has hardly made any transfer this 12 months. Its inventory is reasonable, and it has a beautiful 4.4% yield. Granite has raised its dividend for 15 consecutive years.

A diversified industrials enterprise for month-to-month earnings

Change Revenue Company (TSX:EIF) is one other nice Canadian dividend inventory for month-to-month earnings. EIF inventory has raised its dividend 17 occasions over the previous 20 years. It simply raised its dividend once more by 5% and has a yield of three.4%.

The corporate has grow to be an aviation chief throughout Canada’s north. Its latest acquisition of Canadian North airline actually solidifies that. Whereas aerospace is its largest enterprise, its industrial section in matting has carried out very effectively this 12 months as effectively. For the primary 9 months, revenues are up 19% and earnings per share are up 15%.

For a beautiful mixture of earnings and development, Change is a superb inventory to cap off a dividend portfolio. Personal it together with this nice mixture of dividend shares and you need to get a pleasant mixture of capital appreciation and dividends over time.