2 Canadian Dividend Giants I’d Purchase With Charges on Maintain

When charges sit on maintain, dividend “giants” can shine, however you continue to want to remain choosy. The Financial institution of Canada held its coverage price at 2.25% on Jan. 28, 2026, which takes some rapid strain off debtors and retains earnings buyers from continuously second-guessing the subsequent transfer. Nonetheless, charges on maintain don’t erase threat. You need dividends backed by actual earnings, conservative payout ratios, and stability sheets that may deal with a shock slowdown.

MFC

Manulife Monetary (TSX: MFC) suits the second because it operates throughout insurance coverage, wealth, and asset administration segments, with a giant footprint in Asia and a robust Canadian base. It advantages when long-term charges stabilize as a result of it will probably value merchandise extra confidently and make investments its float with much less whiplash. It additionally tends to look higher when buyers need earnings however nonetheless need some progress. Over the past yr, it stored its dividend regular at $0.44 per quarter, which issues for anybody who needs reliability as an alternative of a roller-coaster payout.

The newest earnings numbers present why the dividend inventory has had extra life. Within the third quarter (Q3) of 2025, Manulife delivered core earnings of $2.0 billion and core earnings per share (EPS) of $1.16, up 16% from a yr earlier. It additionally reported internet earnings attributed to shareholders of $1.8 billion and EPS of $1.02. That blend helps the dividend and leaves room for capital returns, even when just a few quarters get messy.

Wanting forward, the case for Manulife in a “charges on maintain” world is fairly easy. Secure charges assist scale back valuation drama, and the enterprise can nonetheless develop by means of wealth and Asian demand. The valuation additionally appears cheap, buying and selling at 16.6 instances earnings with a 3.43% yield. This dividend inventory hardly ever blows up, however it will probably disappoint if markets flip.

NTR

Vitamins (TSX:NTR) is a special sort of dividend big. It sells the inputs that preserve international crop yields excessive, together with potash, nitrogen, and retail agricultural companies. Farmers don’t purchase fertilizer for enjoyable, however they do purchase it when the soil wants vitamins and meals demand stays cussed. That offers Nutrien a protracted runway, even when any single yr will get uneven. In a rate-hold atmosphere, buyers usually rotate again towards real-economy money turbines, and Nutrien tends to suit that invoice when the cycle cooperates.

The final yr additionally introduced very actual headlines. Nutrien initiated a managed shutdown of its Trinidad nitrogen operations in October 2025 attributable to uncertainty round port entry and challenges round dependable, financial fuel provide. That story highlights a threat buyers usually ignore: operational and geopolitical friction can punch holes in “regular” money move. Across the identical time, Nutrien launched a strategic overview of its phosphate enterprise, which indicators administration needs an easier, greater free-cash-flow portfolio.

The earnings print backed up the concept that the fertilizer cycle nonetheless has legs. In Q3 2025, Nutrien reported internet earnings of $500 million, or $0.96 per diluted share. It posted adjusted earnings earlier than curiosity, taxes, depreciation, and amortization (EBITDA) of $1.4 billion and adjusted internet EPS of $0.97. It reported whole gross sales of $6.01 billion within the quarter, up from $5.35 billion a yr earlier, with potash gross sales rising 27% to $1.12 billion. For outlook and valuation, the attraction comes from earnings plus a possible tailwind if potash demand stays wholesome in 2026. In reality, it reported that Nutrien expects greater international potash demand in 2026 and that it’s evaluating choices for the phosphate enterprise.

Backside line

So, might these dividend shares be buys with charges on maintain? They may, if you would like reliable dividend payers with totally different drivers. Manulife gives a smoother compounding profile tied to markets and long-term financial savings behaviour, however it will probably sag if markets wobble or credit score cracks. Nutrien gives a tangible, international cash-flow story and an honest yield, nevertheless it lives and dies by fertilizer pricing and operational execution. But you may nonetheless earn earnings from even $7,000 invested in every.

In the event you can deal with these trade-offs, each can earn a spot in a portfolio constructed to pay you when you wait.