The Only 3 Canadian Stocks I'd Hold Forever

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Written by Demetris Afxentiou at The Motley Fool Canada
The market is blessed with an abundance of great Canadian stocks. Among that list of stellar investments are several prime options that, given the opportunity, I'd hold forever.
Here's a look at a trio of those Canadian stocks I'd hold indefinitely, and why you should, too.
Have you considered this stock lately?
The first on my list of Canadian stocks to hold onto is Enbridge (TSX:ENB). Most investors are familiar with Enbridge, particularly its pipeline network. Fewer investors are aware of just how much more Enbridge can offer.
Enbridge's pipeline network generates the bulk of the company's revenue, and there's a good reason for that. Across both its natural gas and crude segments, Enbridge moves massive amounts of both.
Specifically, one-third of all North American-produced crude and one-fifth of the natural gas needs of the U.S. market.
Not only does this provide a handsome revenue stream, but it also provides some serious defensive appeal.
Adding to that, Enbridge offers investors a growing renewable energy business and a natural gas utility. Both offer a similar defensive appeal and help to fund growth initiatives and Enbridge's juicy dividend.
That dividend currently boasts a 5.78% yield, making it one of the better-paying options on the market.
Prospective investors should also note that Enbridge has provided investors with handsome annual increases to that dividend for an incredible three decades without fail.
Go on: Be a landlord
The next on the list of Canadian stocks to buy and hold forever is RioCan Real Estate (TSX:REI.UN). RioCan is one of the largest real estate investment trusts (REITs) in Canada, with a portfolio of over 180 properties.
RioCan's portfolio has shifted in recent years to include a larger selection of mixed-use residential properties. These properties, which are located in major metro markets with high demand, offer prospective investors an opportunity to be a landlord and collect a monthly rent.
As of the time of writing, RioCan's monthly distribution provides a juicy 6.53%, making it a top contender among the Canadian stocks to buy and hold.
Oh, and let's not forget that, unlike a landlord, investors in RioCan don't need to worry about a mortgage, coming up with a down payment or even collecting rent from tenants.
Finish off with a stable defensive high-yield pick!
The last of the Canadian stocks I would hold forever is Telus (TSX:T). Telus is one of Canada's big telecoms, meaning that it generates a stable revenue stream with plenty of defensive appeal.
In fact, that appeal has grown in recent years as subscribers increasingly see Telus's subscription services as necessities.
And it's that stable, defensive revenue stream which allows Telus to continue investing in growing its network while paying out a handsome dividend.
As of the time of writing, Telus offers a quarterly dividend with an insane yield of 7.52%. This handily makes the stock one of the best-paying dividends on the market.
Adding to that is the fact that Telus has provided annual or better increases to that juicy dividend for over a decade without fail.
That fact alone makes this one of the Canadian stocks to hold forever.
Canadian stocks to hold forever
No stock is without risk, but the trio of options mentioned above can provide some growth and a healthy income while wrapped in a defensive shell.
In my opinion, the Canadian stocks mentioned above should be core holdings in any well-diversified portfolio.
Buy them, hold them, and watch your future income grow.
The post The Only 3 Canadian Stocks I'd Hold Forever appeared first on The Motley Fool Canada.
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Fool contributor Demetris Afxentiou has positions in Enbridge. The Motley Fool recommends Enbridge and TELUS. The Motley Fool has a disclosure policy.
2025