Top 5 Canadian Dividend Aristocrats to Buy Now

4. TC Energy Corporation (NYSE:TRP)

Number of Hedge Fund Holders: 16

Dividend Yield: 5.4%

Number of Years of Dividend Growth: 22

TC Energy Corporation (NYSE:TRP), an energy company, is next on our list of the top Canadian dividend aristocrats to buy now. The company operates a network of natural gas pipelines spanning 93,000 km which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, and more. Its dividend growth history spanning over two decades makes it a top pick on our list.

CIBC analyst Robert Catellier upgraded shares of TC Energy Corporation (NYSE:TRP) just this May from Neutral to Outperformer.

The company hiked its quarterly dividend by about 3.4% just this February, ensuring its shareholders continued to receive a sizable dividend payout. The company is expected to raise its dividend annually by about 3% to 5% for the years to come as well.

According to our first quarter of 2022 hedge fund data, 16 hedge funds held stakes in TC Energy Corporation (NYSE:TRP) in that quarter. Their total stake value was $138 million.