Investment in high-quality dividend-paying companies can help you generate a reliable and growing passive-income stream. Moreover, as top dividend-paying companies have solid fundamentals and a growing earnings base, they have the potential to deliver decent capital gains over time.

So, for investors planning to build a resilient passive-income portfolio, here are the five best Canadian dividend stocks to buy now. These Canadian stocks have a solid history of uninterruptedly paying and growing their dividends. Letâs take a closer look.

Bank of Montreal

Leading Canadian bank stocks are renowned for their long dividend payment history, making them attractive investments for starting a passive-income stream. Investors could consider buying Bank of Montreal (TSX:BMO) stock within the banking space. The financial services company has uninterruptedly paid dividends for over 195 years, the longest by any Canadian corporation. Moreover, Bank of Montrealâs dividend has grown at a compound annual growth rate (CAGR) of 5% in the past one-and-a-half decades.

The bankâs diversified revenue base and focus on improving efficiency will drive earnings and enable it to pay higher dividends. Bank of Montrealâs earnings are forecasted to grow at a CAGR of 7-10% over the medium term. This will drive higher dividend payments. Moreover, Bank of Montreal stock offers a lucrative dividend yield of about 5.2%.

Canadian Natural Resources

Canadian Natural Resources (TSX:CNQ) is among the best Canadian dividend stocks for rewarding shareholders with higher cash. This oil and gas giant has been consistently increasing dividends for 24 years. Further, its dividends increased at an impressive CAGR of 21%. While investors benefitted from the companyâs solid payouts, Canadian Natural Resources stock has appreciated by over 279% in the last five years.

Canadian Natural Resourcesâs diversified and long-life asset base, high-value reserves, and low maintenance capital requirements position it well to grow its earnings and enhance shareholdersâ value. Further, its strong balance sheet enables the company to capitalize on growth opportunities. The company is well-positioned to grow its dividends rapidly. Moreover, it offers a compelling yield of about 4.31%. Â

Enbridge

Investors could also consider Enbridge (TSX:ENB) stock within the energy sector. It has paid a dividend for over 69 years and has increased its dividends at a CAGR of 10% in the past 29 consecutive years. Adding to the positives, Enbridge stock offers a well-protected and high yield of 7.2%.

Enbridgeâs resilient business model, long-term contracts, high asset utilization rates, and power-purchase agreements will likely drive its earnings and distributable cash flows (DCF) and support higher dividend payments. Moreover, Enbridgeâs payout ratio of 60-70% of DCF is sustainable.

Fortis

Top Canadian utility companies are also among the best dividend stocks to buy now. For instance, regulated electric utility company Fortis (TSX:FTS) is known for its durable payouts. Fortis raised its dividend for 50 consecutive years. Its regulated asset base generates predictable and growing cash flows, enabling Fortis to enhance its shareholdersâ value. Further, it offers visibility over its future payouts.

Looking ahead, Fortisâs resilient business model and investments to expand its rate base will enable it to generate solid earnings. The company expects its rate base to expand at a CAGR of 6.3% through 2028. This will help the company to grow its dividends by 4-6% annually. Moreover, it offers a well-protected yield of 4.2%.

Canadian Utilities

Canadian Utilities (TSX:CU) stock could be another solid investment in the utility sector for dividend income. This utility has consistently increased its dividends for 52 years, the most by any Canadian company. Canadian Utilitiesâs defensive business model and predictable cash flows from regulated assets position it well to pay and increase its dividends regardless of market conditions.

Looking ahead, Canadian Utilities is focusing on expanding its rate base by investing in regulated utility assets. These investments will drive its earnings base and ensure that its payouts are well-protected. Canadian Utilities stock offers a high yield of 5.9%.

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