In This Article:
As we navigate the evolving political and economic landscape in Canada, marked by shifts in government leadership and central-bank policy adjustments, investors are reminded of the importance of focusing on market fundamentals rather than headlines. In this context, dividend stocks remain a compelling option for those seeking stability and income, offering potential opportunities to capitalize on market pullbacks while maintaining a diversified portfolio.
Top 10 Dividend Stocks In Canada
| Name | Dividend Yield | Dividend Rating |
| Whitecap Resources (TSX:WCP) | 6.91% | ★★★★★★ |
| Acadian Timber (TSX:ADN) | 6.75% | ★★★★★★ |
| Russel Metals (TSX:RUS) | 4.24% | ★★★★★☆ |
| Power Corporation of Canada (TSX:POW) | 5.25% | ★★★★★☆ |
| Canadian Imperial Bank of Commerce (TSX:CM) | 4.33% | ★★★★★☆ |
| Royal Bank of Canada (TSX:RY) | 3.46% | ★★★★★☆ |
| National Bank of Canada (TSX:NA) | 3.44% | ★★★★★☆ |
| Firm Capital Mortgage Investment (TSX:FC) | 8.40% | ★★★★★☆ |
| Canadian Natural Resources (TSX:CNQ) | 4.44% | ★★★★★☆ |
| Sun Life Financial (TSX:SLF) | 4.06% | ★★★★★☆ |
Click here to see the full list of 26 stocks from our Top TSX Dividend Stocks screener.
Below we spotlight a couple of our favorites from our exclusive screener.
Centerra Gold
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Centerra Gold Inc. is a gold mining company involved in the acquisition, exploration, development, and operation of gold and copper properties in North America, Turkey, and internationally, with a market cap of CA$1.78 billion.
Operations: Centerra Gold Inc. generates revenue from its Öksüt ($559.44 million), Molybdenum ($232.42 million), and Mount Milligan ($460.21 million) segments.
Dividend Yield: 3.3%
Centerra Gold's dividend payments have been volatile and unreliable over the past decade, despite recent increases. The dividends are well-covered by earnings and cash flows, with payout ratios of 43.7% and 20.2%, respectively. Currently trading at a significant discount to its estimated fair value, Centerra offers a modest dividend yield of 3.33%, lower than top-tier Canadian payers. Recent buyback activities could potentially enhance shareholder value amid ongoing drilling projects in Nevada.
National Bank of Canada
Simply Wall St Dividend Rating: ★★★★★☆
Overview: National Bank of Canada offers financial services to individuals, businesses, institutional clients, and governments both domestically and internationally, with a market cap of CA$45.16 billion.
Operations: National Bank of Canada's revenue is primarily derived from its Personal and Commercial segment at CA$4.34 billion, followed by Financial Markets at CA$2.98 billion, Wealth Management at CA$2.79 billion, and U.S. Specialty Finance and International at CA$1.23 billion.