In This Article:
With Canada's election now behind it, the focus has shifted to economic growth and trade diversification, as policymakers aim to address these pressing issues. Amidst this backdrop of potential fiscal stimulus and possible interest rate cuts from the Bank of Canada, dividend stocks can offer a steady income stream and stability for investors seeking resilience in their portfolios.
Top 10 Dividend Stocks In Canada
| Name | Dividend Yield | Dividend Rating |
| Royal Bank of Canada (TSX:RY) | 3.58% | ★★★★★☆ |
| Olympia Financial Group (TSX:OLY) | 7.09% | ★★★★★☆ |
| Russel Metals (TSX:RUS) | 4.15% | ★★★★★☆ |
| Savaria (TSX:SIS) | 3.03% | ★★★★★☆ |
| Whitecap Resources (TSX:WCP) | 9.52% | ★★★★★☆ |
| Power Corporation of Canada (TSX:POW) | 4.37% | ★★★★★☆ |
| SECURE Waste Infrastructure (TSX:SES) | 3.16% | ★★★★★☆ |
| IGM Financial (TSX:IGM) | 5.14% | ★★★★★☆ |
| Acadian Timber (TSX:ADN) | 6.69% | ★★★★★☆ |
| Richards Packaging Income Fund (TSX:RPI.UN) | 6.22% | ★★★★★☆ |
Click here to see the full list of 25 stocks from our Top TSX Dividend Stocks screener.
We'll examine a selection from our screener results.
High Liner Foods
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: High Liner Foods Incorporated processes and markets prepared and packaged frozen seafood products in North America, with a market cap of CA$492.69 million.
Operations: High Liner Foods generates revenue of $959.22 million from its manufacturing and marketing of prepared and packaged frozen seafood segment.
Dividend Yield: 3.8%
High Liner Foods' dividend, yielding 3.85%, is lower than the top Canadian payers and has been volatile over the past decade. Despite this, its dividends are well-covered by earnings and cash flows, with payout ratios of 22.7% and 20.5% respectively, indicating sustainability. Recent earnings showed significant growth in net income to US$60.16 million from US$31.68 million year-over-year, supporting continued dividend payments amidst ongoing M&A pursuits for strategic growth.
SECURE Waste Infrastructure
Simply Wall St Dividend Rating: ★★★★★☆
Overview: SECURE Waste Infrastructure Corp. operates in the waste management and energy infrastructure sectors mainly in Canada and the United States, with a market cap of CA$2.94 billion.
Operations: SECURE Waste Infrastructure Corp. generates revenue from two main segments: CA$1.21 billion from Waste Management and CA$9.29 billion from Energy Infrastructure.
Dividend Yield: 3.2%
SECURE Waste Infrastructure's dividend yield of 3.16% is modest compared to top Canadian payers, yet it remains reliable and stable over the past decade. With a payout ratio of 49%, dividends are well-covered by earnings and cash flows. Recent financials indicate decreased net income to C$38 million from C$422 million year-over-year, but ongoing share buybacks suggest confidence in capital management. The company is also exploring strategic acquisitions for growth.