Canadian Dividend Stocks to Ride Out Inflation

Investors should consider Canadian dividend stocks that can adapt to potential future inflation, according to Jitendra Parashar at The Motley Fool Canada.

The Bank of Canada has paused rate cuts in recent meetings, and the U.S. Federal Reserve has also shown caution on this issue.

Canadian Natural Resources (TSX:CNQ) could be a strong stock for investors looking to add an inflation-sensitive income stock to their portfolio.

The oil and natural gas producer operates across Canada, the North Sea, and offshore Africa, with shares trading at $62.43 each and a market cap of $129.4 billion.

Canadian Natural produced an average of 1.6 million barrels of oil equivalent per day in the first quarter, up 4% year-over-year (YoY), and its adjusted net earnings came in at $2.4 billion, close to the $2.4 billion reported a year ago.

The company has increased its dividend for 26 straight years and continues to advance work on the Jackfish expansion and Pike 2 project, along with investments tied to future thermal production.

Choice Properties Real Estate Investment Trust (TSX:CHP.UN) could be worth considering for investors who prefer a consistent source of income, offering a 4.8% annualized dividend yield and owning grocery-anchored retail properties, industrial buildings, residential assets, and mixed-use developments across Canada.

Saputo (TSX:SAP) can bring defensive exposure to a portfolio, producing and selling cheese, milk, cream, cultured products, and dairy ingredients across several international markets with shares trading at $41.58 each and a market cap of $16.6 billion.