2026 Canadian Dividend Aristocrats: Analysis, Performance, and Insights

The 2026 Canadian Dividend Aristocrats are Canadian stocks that have grown dividends for 5+ years. There are currently 93 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 3.47%, and the average forward price-to-earnings (P/E) ratio is approximately 16.61X. 

The mean market capitalization is roughly CAD 38,363 million, and the median is approximately CAD 10,784 million. The market cap ranges between about CAD 398 million to CAD 388,165 million. The total market capitalization is CAD 3,567,770 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

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 6.02% and a standard deviation of 13.76%, while the benchmark, the S&P/TSX Composite Index, had an annualized total return of 9.12% and a standard deviation of 13.07%.

Over the trailing five years, the Canadian Dividend Aristocrats have had an annualized total return of 7.57% and a standard deviation of 11.35%. The benchmark has had annualized total returns of 11.91% and a standard deviation of 12.56%.

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

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. Further changes delete more companies.

Other Dividend Stock Lists

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

For UK stocks, we have written about the following:

Other dividend stock lists

FAQs About the Canadian Dividend Aristocrats 2026

The Canadian Dividend Aristocrats 2026 is relatively select since it comprises only 93 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 21.6%. 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 19.6%. Stocks in the Financial sector tend to have more volatile earnings and cash flows that depend on the stock market valuation and interest rates.

Industrials is the sector with the third highest representation, at approximately 16.98%. The Industrial 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%. 

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 370 billion. Conversely, the stock with the smallest market capitalization is Cogeco (TSE: CGO), with roughly CAD 465 million market capitalization. Combined, the 93 Canadian Dividend Aristocrats have a total market capitalization of over CAD 3.568 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%.

Prior Year Lists