Top Dividend Stocks On TSX To Enhance Your Portfolio
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As the Canadian market navigates through the complexities of potential tariffs and political uncertainty, investors are increasingly adopting a defensive stance, with the TSX showing modest gains. In such an environment, dividend stocks can offer stability and income potential, making them an attractive option for those looking to enhance their portfolios amidst market volatility.
Top 10 Dividend Stocks In Canada
| Name | Dividend Yield | Dividend Rating |
| Whitecap Resources (TSX:WCP) | 8.52% | ★★★★★★ |
| Russel Metals (TSX:RUS) | 4.23% | ★★★★★☆ |
| National Bank of Canada (TSX:NA) | 3.92% | ★★★★★☆ |
| Savaria (TSX:SIS) | 3.24% | ★★★★★☆ |
| Royal Bank of Canada (TSX:RY) | 3.70% | ★★★★★☆ |
| IGM Financial (TSX:IGM) | 5.18% | ★★★★★☆ |
| Power Corporation of Canada (TSX:POW) | 4.67% | ★★★★★☆ |
| Firm Capital Mortgage Investment (TSX:FC) | 8.49% | ★★★★★☆ |
| Richards Packaging Income Fund (TSX:RPI.UN) | 6.00% | ★★★★★☆ |
| Acadian Timber (TSX:ADN) | 6.74% | ★★★★★☆ |
Click here to see the full list of 25 stocks from our Top TSX Dividend Stocks screener.
Below we spotlight a couple of our favorites from our exclusive screener.
Bank of Montreal
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Bank of Montreal offers diversified financial services mainly in North America and has a market cap of approximately CA$100.07 billion.
Operations: Bank of Montreal's revenue is primarily derived from Canadian Personal and Commercial Banking at CA$9.82 billion, U.S. Personal and Commercial Banking at CA$8.20 billion, BMO Capital Markets at CA$6.56 billion, and BMO Wealth Management at CA$5.89 billion.
Dividend Yield: 4.6%
Bank of Montreal offers a reliable dividend yield of 4.56%, though it is lower than the top 25% of Canadian dividend payers. The bank's dividends have been stable and growing over the past decade, supported by a sustainable payout ratio currently at 58.3%, with future coverage expected to improve to 49.9%. Recent fixed-income offerings, including $14.65 million in senior unsecured notes, reflect its ongoing financial strategies amidst shareholder proposals on lobbying disclosures and executive compensation transparency.
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Unlock comprehensive insights into our analysis of Bank of Montreal stock in this dividend report.
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Our valuation report here indicates Bank of Montreal may be undervalued.
Evertz Technologies
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Evertz Technologies Limited designs, manufactures, and distributes video and audio infrastructure solutions for production, post-production, broadcast, and telecommunications markets globally with a market cap of CA$851.30 million.
Operations: Evertz Technologies Limited generates revenue primarily from its Television Broadcast Equipment Market segment, which accounts for CA$496.59 million.