Top 3 TSX Dividend Stocks To Enhance Your Portfolio
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In the last week, the Canadian market has stayed flat, yet it has shown impressive growth of 27% over the past 12 months with earnings forecast to grow by 16% annually. In this context, dividend stocks that offer reliable income and potential for capital appreciation can be a solid choice for enhancing your portfolio.
Top 10 Dividend Stocks In Canada
| Name | Dividend Yield | Dividend Rating |
| Whitecap Resources (TSX:WCP) | 7.01% | ★★★★★★ |
| Labrador Iron Ore Royalty (TSX:LIF) | 8.23% | ★★★★★☆ |
| Power Corporation of Canada (TSX:POW) | 5.08% | ★★★★★☆ |
| Enghouse Systems (TSX:ENGH) | 3.35% | ★★★★★☆ |
| Firm Capital Mortgage Investment (TSX:FC) | 8.68% | ★★★★★☆ |
| Russel Metals (TSX:RUS) | 4.29% | ★★★★★☆ |
| Sun Life Financial (TSX:SLF) | 4.13% | ★★★★★☆ |
| Royal Bank of Canada (TSX:RY) | 3.28% | ★★★★★☆ |
| IGM Financial (TSX:IGM) | 5.38% | ★★★★★☆ |
| Canadian Natural Resources (TSX:CNQ) | 4.32% | ★★★★★☆ |
Click here to see the full list of 29 stocks from our Top TSX Dividend Stocks screener.
Here's a peek at a few of the choices from the screener.
Enghouse Systems
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Enghouse Systems Limited, along with its subsidiaries, develops enterprise software solutions globally and has a market capitalization of approximately CA$1.73 billion.
Operations: Enghouse Systems Limited generates revenue through its Asset Management Group, which contributes CA$187.17 million, and its Interactive Management Group, which accounts for CA$312.77 million.
Dividend Yield: 3.3%
Enghouse Systems offers a stable dividend with a payout ratio of 66%, indicating sustainability supported by earnings and cash flows, with a cash payout ratio of 45.4%. The company has consistently increased dividends over the past decade. Despite trading at 49.7% below estimated fair value, its current yield of 3.35% is lower than top Canadian dividend payers. Recent financials show solid growth in revenue and net income, enhancing its capacity to maintain dividends amidst executive changes.
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Dive into the specifics of Enghouse Systems here with our thorough dividend report.
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Our valuation report unveils the possibility Enghouse Systems' shares may be trading at a discount.
Olympia Financial Group
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Olympia Financial Group Inc., with a market cap of CA$237.02 million, operates in Canada as a non-deposit taking trust company through its subsidiary, Olympia Trust Company.
Operations: Olympia Financial Group Inc. generates revenue through several segments, including Health (CA$10.21 million), Corporate (CA$0.13 million), Exempt Edge (EE) (CA$1.41 million), Investment Account Services (IAS) (CA$79.02 million), Currency and Global Payments (CGP) (CA$8.43 million), and Corporate and Shareholder Services (CSS) (CA$3.98 million).