Market volatility is inevitable, but investors who focus on high-quality blue-chip companies can often ride out short-term uncertainty while building long-term wealth. The best blue-chip stocks combine durable business models, strong balance sheets, and shareholder-friendly management teams that consistently grow earnings and dividends.
If you’re looking for Canadian stocks to buy and hold through 2026 and well beyond, these three companies should be on your watchlist for their resilient operations, attractive valuations, and long-term growth potential.
A defensive dividend grower
Empire (TSX:EMP.A) is one of Canada’s leading grocery retailers, operating more than 1,600 stores across all 10 provinces. Its portfolio includes well-known banners such as Sobeys, Safeway, IGA, FreshCo, Farm Boy, Longo’s, Foodland, Thrifty Foods, and Lawtons Drugs.
As a consumer staples business, Empire benefits from consistent demand regardless of economic conditions. Canadians need groceries in every market environment, giving the company a stable foundation for revenue and earnings growth over time.
Empire has also demonstrated an impressive commitment to returning cash to shareholders, increasing its dividend for roughly 30 consecutive years. Last month, it boosted its payout by another 10%, highlighting management’s confidence in the business.
At $49.67 per share at writing, Empire trades at a blended price-to-earnings (P/E) ratio of approximately 15 and offers a dividend yield of about 1.9%. Given its dependable earnings profile and reasonable valuation, the stock has the potential to generate annual total returns of roughly 10% over the next several years under normal market conditions.
An energy leader built for the long term
Canadian Natural Resources (TSX:CNQ) remains one of the strongest energy producers in North America. The company is recognized for its operational efficiency, long-life, low-decline asset base, and disciplined capital allocation.
Its reserves are expected to last for more than 30 years, while its low operating costs allow it to fund capital expenditures and maintain its dividend even if WTI crude prices fall into the low-to-mid US$40-per-barrel range. That resilience makes Canadian Natural Resources well positioned to weather commodity price swings.
The company has rewarded investors with approximately 25 consecutive years of dividend increases, while its dividend has compounded at an exceptional rate of roughly 20% annually over the past two decades.
Trading at about $56 per share, the stock offers a compelling dividend yield of nearly 4.5%. Meanwhile, the consensus analyst price target suggests shares remain undervalued by roughly 20%, giving investors the opportunity to collect an attractive income stream while waiting for potential capital appreciation.
A world-class asset manager
Brookfield Asset Management (TSX:BAM) is another blue-chip stock built to compound shareholder value over the long run. The global alternative asset manager oversees more than US$1 trillion in assets and generates recurring management fees tied largely to long-term or perpetual capital.
Its asset-light business model allows earnings and free cash flow to grow efficiently as assets under management expand. Management expects earnings to increase by 15% to 20% annually over the next five years, supported by continued fundraising and global demand for alternative investments.
At roughly $63 per share, Brookfield offers a dividend yield of about 4.4%, while analyst consensus estimates indicate the stock trades at a discount of more than 20% to its average price target.
Investor takeaway
Empire, Canadian Natural Resources, and Brookfield Asset Management each possess qualities that long-term investors should value: resilient businesses, disciplined management teams, growing dividends, and attractive valuations. While no stock is immune to market fluctuations, these three Canadian blue-chip companies appear well positioned to reward patient investors through 2026 and beyond.
