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As the Canadian market rides a wave of optimism, buoyed by recent rate cuts from the U.S. Federal Reserve and enthusiasm around AI, the TSX has reached all-time highs, reflecting strong performance even amidst looming election uncertainties in the U.S. This backdrop provides an opportune moment to explore dividend stocks on the TSX that offer attractive yields, as they can provide steady income and potential growth in a market focused on economic expansion and rising corporate earnings.
Top 10 Dividend Stocks In Canada
| Name | Dividend Yield | Dividend Rating |
| Whitecap Resources (TSX:WCP) | 6.93% | ★★★★★★ |
| Secure Energy Services (TSX:SES) | 3.29% | ★★★★★☆ |
| Labrador Iron Ore Royalty (TSX:LIF) | 7.77% | ★★★★★☆ |
| Power Corporation of Canada (TSX:POW) | 5.24% | ★★★★★☆ |
| Enghouse Systems (TSX:ENGH) | 3.09% | ★★★★★☆ |
| Firm Capital Mortgage Investment (TSX:FC) | 8.65% | ★★★★★☆ |
| Russel Metals (TSX:RUS) | 4.16% | ★★★★★☆ |
| Sun Life Financial (TSX:SLF) | 4.14% | ★★★★★☆ |
| Royal Bank of Canada (TSX:RY) | 3.42% | ★★★★★☆ |
| Canadian Natural Resources (TSX:CNQ) | 4.49% | ★★★★★☆ |
Click here to see the full list of 31 stocks from our Top TSX Dividend Stocks screener.
Here we highlight a subset of our preferred stocks from the screener.
High Liner Foods
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: High Liner Foods Incorporated processes and markets frozen seafood products in North America, with a market cap of CA$373.04 million.
Operations: High Liner Foods generates revenue of $992.12 million from the manufacturing and marketing of prepared and packaged frozen seafood.
Dividend Yield: 4.7%
High Liner Foods recently reported strong earnings growth, with net income rising significantly despite a decline in sales. The company affirmed a quarterly dividend of C$0.15 per share, supported by a low payout ratio and robust cash flow coverage, though its historical dividend stability has been volatile. Recent debt refinancing is expected to reduce interest expenses, potentially benefiting future dividend sustainability. Share buybacks totaling 1.99% indicate confidence in its financial position despite high debt levels.
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Take a closer look at High Liner Foods' potential here in our dividend report.
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Our valuation report here indicates High Liner Foods may be undervalued.
Peyto Exploration & Development
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Peyto Exploration & Development Corp. is an energy company focused on the exploration, development, and production of natural gas, oil, and natural gas liquids in Alberta's Deep Basin with a market cap of CA$3.08 billion.
Operations: Peyto Exploration & Development Corp. generates its revenue from the exploration and production of oil and gas, amounting to CA$901.99 million.