Canadian Dividend Aristocrats (2026): Major Members by Sector

Canadian Dividend Aristocrats

Canadian Dividend Aristocrats are the members of the S&P/TSX Canadian Dividend Aristocrats Index, which admits TSX-listed companies that have raised their ordinary dividend every year for at least 5 years (the dividend may stay flat for up to 2 consecutive years within that period). The index has 93 members, going by the holdings of the ETF that tracks it (CDZ, as of September 24, 2026). This page lists the larger ones by sector, with each company’s yield and most recent dividend increase, shows some of the longest growth streaks, and compares owning them with owning the whole market. Yields are from Toronto Stock Exchange data (TMX Money) as of September 25, 2026; they move with share prices, and membership changes at each annual review. For a wider set of income stocks, including ones without long streaks, see our guide to the best Canadian dividend stocks; every other guide in this section is listed in the Canadian stocks hub.

Selection Criteria

Source: S&P/TSX Canadian Dividend Aristocrats Index methodology (S&P Dow Jones Indices).

Major Canadian Dividend Aristocrats by Sector

The “latest dividend increase” column shows the month the most recent higher dividend first went ex-dividend, from TSX dividend records.

Financial Services

Federally regulated banks and insurers could not raise dividends from March 2020 until the banking regulator (OSFI) lifted that restriction on November 4, 2021, so their current runs of increases start after that. The index allows a dividend to stay flat for up to 2 consecutive years, which kept them eligible. The banks are compared on yield and valuation in Canadian bank stocks.

Energy

Utilities

Telecommunications

BCE, Telus and Rogers are not Dividend Aristocrats at present, although two other telecom operators, Quebecor (QBR.B) and Cogeco Communications (CCA), are members. BCE cut its dividend by more than half in 2025 and now yields about 5.8% on the reduced payout. Telus cut its dividend by more than half in July 2026, ending its run of increases, and now yields about 6.2%. Rogers has paid the same quarterly dividend ($0.50 a share) since March 2019, so it has no growth streak.

Real Estate

More REITs, including those without long growth streaks, are listed in Canadian REITs by sector.

Consumer

Industrials

Materials

Some of the Longest Dividend Streaks

Each count below is the company’s own, from its latest dividend announcement. Companies count slightly differently, and this is not a complete ranking of every member.

How to Invest in Dividend Aristocrats

Option 1: CDZ ETF

The simplest way is through the iShares S&P/TSX Canadian Dividend Aristocrats Index ETF:

Option 2: Individual Stocks

Pick your own Aristocrats. Consider:

• Diversifying across sectors
• Focusing on longest dividend streaks
• Balancing yield with growth potential

Option 3: Alternative ETFs

Dividend Aristocrats vs Total Market

Index total returns in Canadian dollars to December 31, 2025 (S&P Dow Jones Indices, SPIVA Canada Year-End 2025); yields are each ETF’s distribution yield.

Key point: over both periods the whole market returned more than the Aristocrats, even though the Aristocrats pay a higher yield. Total return (price growth plus dividends) is what builds wealth, not yield alone.

Why Focus on Dividend Growth?

Benefits

Risks

Building a Dividend Portfolio

Illustrative Sector Ranges

BCE, Telus and Rogers do not currently qualify as Aristocrats, so there is no telecom row.

Sample Portfolio

Portfolio yield: about 3.1%

This is an illustration of how weights and yields combine, not a recommendation.

Dividend Tax Credit

In a non-registered account, dividends from these Canadian companies qualify for the dividend tax credit, which usually leaves them taxed at a lower rate than interest or foreign dividends. How much lower depends on your province and income; the guide has the rates and worked examples. In a TFSA the dividends are tax-free either way.

Related Resources

• Dividend Calculator
• Best ETFs Canada
• TFSA Calculator
• DRIP Investing Canada