With bear market jitters constructing for 2026 amid financial slowdown fears and unstable markets, savvy Canadian buyers want defensive performs that ship dependable earnings and resilience. These three top-tier shares at present stand out for his or her fortress-like fundamentals, providing portfolio safety by regular dividends and robust stability sheets.
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Agnico Eagle Mines
Agnico Eagle Mines (TSX:AEM) is your final bear market protect, because of its dominant place in low-cost gold manufacturing.
It is a firm with a enterprise mannequin that thrives when equities tank and safe-haven demand surges. With trailing 12-month earnings per share of $8.92 and a internet revenue margin of 37.5%, this miner’s profitability is rock-solid. That’s due partially to gold costs holding agency above $5,000 an oz in early 2026. Nonetheless, the opposite key a part of the story right here is the corporate’s standing as a number one operator in its sector, enabling buyers to profit from unbelievable efficiencies.
With a strong stability sheet supported by a debt-to-equity ratio that sits at a pristine 0.8%, Agnico Eagle is an organization with unmatched monetary flexibility to climate downturns with out slashing payouts.
Enbridge
One other prime Canadian defensive gem I proceed to pound the desk on is Enbridge (TSX: ENB).
This pipeline powerhouse is the earnings machine each bear-wary investor craves. With a enterprise mannequin pushed by fee-based contracts (locking in 98% of earnings no matter oil value swings or recessions), the corporate’s reaffirmed 2026 steerage highlights why I like this title. Enbridge’s administration staff now expects to see $20.2–20.8 billion and DCF per share of $5.70–6.10 this 12 months. That’s up 4% from 2025 midpoints, fueled by $8 billion in new tasks coming into service.
Certainly, with a thirty first straight dividend hike to $0.97 quarterly ($3.88 annualized), Enbridge delivers a juicy 5.4% yield, lined by sturdy money flows regardless of the next payout ratio. With a strong and defensive market positioning, I feel Enbridge deserves its latest rally and ought to be not less than thought-about by most long-term buyers.
Manulife Monetary
Lastly, we come to insurance coverage and wealth administration big Manulife Monetary (TSX: MFC)
Shares of MFC inventory have additionally been on a tear of late, as buyers look to achieve elevated publicity to firms benefiting from declining rates of interest and a steepening yield curve. That’s a part of the story right here.
The opposite key piece I proceed to deal with is the truth that Manulife is the bear-proof dividend grower you want. The corporate blends recurring float earnings with a conservative stability sheet that shines in volatility. Earnings simply cowl dividends, with a payout ratio of 57% and money payout at simply 10.1%, leaving ample room as earnings develop.
And over the previous 5 years, the corporate’s dividend per share has compounded at a near-double-digit charge (by no means thoughts factoring within the capital appreciation buyers have seen). Backside line is this can be a prime complete return inventory I’d purchase for the lengthy haul, recession or not.