Canadian Natural Resources Stock And 2 TSX Dividend Payers Built For Inflation ضغط

Global food prices recently reached their highest level since 2023, which keeps inflation risk firmly on the table for income focused investors. When everyday costs feel less predictable, reliable dividends can act as a stabilising force in a portfolio. Dividend powerhouses with yields above 3% and a track record of well covered, growing payouts can be appealing. This article highlights three stocks from that screener.

The three dividend stocks covered below are just a sample from this idea. The full screen surfaced 8 more companies with equally compelling income stories that are not covered here. To identify and analyze the highest conviction dividend payers, head straight to the Dividend Powerhouses (3%+ Yield) screener.

Canadian Natural Resources (TSX:CNQ)

Canadian Natural Resources is one of Canada’s largest oil and gas producers, with operations spanning oil sands mining, conventional crude, natural gas and natural gas liquids across Western Canada, the UK North Sea and Offshore Africa. The company is valued at about CA$130.8b, which places it firmly in the large cap category on the TSX.

Income investors may want Canadian Natural Resources on their radar because it combines a near 4% dividend yield with strong recent earnings momentum and a long record of raising payouts, including 26 consecutive years of dividend increases. Record Q2 2026 production, rising guidance and active share buybacks point to a management team focused on returning excess cash. At the same time, high margins and return on equity suggest the core assets are still working hard. The flip side is heavy exposure to oil sands, evolving environmental rules and a forecast decline in revenue and earnings, which could test that cash return story if conditions turn.

Canadian Natural Resources looks like an income machine, yet the real story sits behind those rising payouts and buybacks. Before assuming the cash returns keep flowing, review the 4 key rewards and 2 important warning signs (1 is major!)

Build your own dividend cash return shortlist

Canadian Natural Resources and the two other dividend stocks in this article all came from the same Simply Wall St screener, but the real edge is setting your own rules. Use our flexible Screener to mix filters like dividends, cash flows, valuation and risk, or tap into our ready made Investing Ideas for curated starting points.

Freehold Royalties (TSX:FRU)

Freehold Royalties is an energy royalty company that collects a share of production from oil, gas, NGL and potash assets in Canada and the US without paying to drill or operate the wells. All of its CA$322 million of revenue comes from Oil and Gas Exploration and Production royalties, split between Canada and the US, which gives it exposure to both WCS and Permian pricing. The stock is valued at around CA$2.8b, which puts Freehold Royalties in mid cap territory on the TSX.

Income investors looking past traditional producers may consider monitoring Freehold Royalties. Its royalty only model means operators carry the heavy lifting costs, while Freehold’s share of production contributes to high netback margins and strong funds from operations, as reported in Q2 2026. In addition, the company has been building a larger US footprint in the Permian. In that region, shifting gas economics tied to data center demand could be a relevant factor over time. The trade off is a high yield that has raised questions about dividend coverage and a balance sheet that leans on external borrowing. The key considerations lie in how cash flows, reserves and payouts align beyond the headline yield.

Freehold Royalties’ high yield and royalty only model can look like a simple income story, yet its payout hinges on how cash flows, reserves and debt really stack up. Get the full picture in the 2 key rewards and 1 important major warning sign

Manulife Financial (TSX:MFC)

Manulife Financial is a global insurer and asset manager that helps clients with retirement savings, life and health protection, and investment solutions across Canada, the US and Asia. The company also manages timberland and agricultural assets and offers integrated banking and wealth products through multiple distribution channels. It is a large cap stock on the TSX with a market value of about CA$102.5b.

Income investors may find Manulife Financial interesting because it combines a 3.14% dividend yield with growing core earnings, rising margins and active share buybacks, backed by a strong LICAT ratio of 136%. Growth in Asia and wealth management, its push into private credit through Comvest Credit Partners and its AI driven digital push are key earnings drivers, although reliance on higher risk external borrowing, recent insider selling and a relatively new management team add complexity. For investors weighing a global income stock with capital return ambitions against these governance and funding questions, Manulife’s recent reinsurance deals, capital actions and AI strategy leave more to unpack than the yield alone suggests.

Manulife Financial’s capital returns, AI push and Asia exposure hint at an earnings story that many are still pricing like a plain income stock. See how the full risk reward picture shifts in the 4 key rewards and 1 important warning sign

Seeking Fresh Alternatives Beyond Dividends

Some stocks move from quiet to breakout before most investors even look up. Consider these ideas while they are still under the radar and consider acting early.

• Spot early momentum in cash rich companies and run them through the 14 high quality undervalued stocks before the crowd starts chasing the same ideas.
• Track where capital is quietly flowing toward critical materials by scanning the 28 best rare earth metal stocks while pricing dislocations still create mispriced entries.
• Explore the next wave in automation and filter the 37 robotics and automation stocks before these opportunities become more widely followed.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com