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As the Canadian economy shows signs of slowing, with a cooling labor market and anticipated rate cuts from the Bank of Canada, investors are eyeing dividend stocks for their potential stability and income generation. In this environment, selecting dividend stocks that offer consistent payouts and have strong fundamentals can be a strategic move to navigate market volatility while benefiting from potential long-term growth.
Top 10 Dividend Stocks In Canada
| Name | Dividend Yield | Dividend Rating |
| Whitecap Resources (TSX:WCP) | 7.00% | ★★★★★★ |
| Acadian Timber (TSX:ADN) | 6.52% | ★★★★★★ |
| Labrador Iron Ore Royalty (TSX:LIF) | 8.30% | ★★★★★☆ |
| Power Corporation of Canada (TSX:POW) | 4.99% | ★★★★★☆ |
| Russel Metals (TSX:RUS) | 4.23% | ★★★★★☆ |
| Enghouse Systems (TSX:ENGH) | 3.51% | ★★★★★☆ |
| Firm Capital Mortgage Investment (TSX:FC) | 8.78% | ★★★★★☆ |
| Canadian Natural Resources (TSX:CNQ) | 4.41% | ★★★★★☆ |
| Royal Bank of Canada (TSX:RY) | 3.33% | ★★★★★☆ |
| Sun Life Financial (TSX:SLF) | 4.05% | ★★★★★☆ |
Click here to see the full list of 30 stocks from our Top TSX Dividend Stocks screener.
Here's a peek at a few of the choices from the screener.
Canadian Imperial Bank of Commerce
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Canadian Imperial Bank of Commerce is a diversified financial institution offering a range of financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally with a market cap of CA$83.04 billion.
Operations: Canadian Imperial Bank of Commerce generates revenue through its Canadian Personal and Business Banking (CA$8.80 billion), Capital Markets and Direct Financial Services (CA$5.61 billion), U.S. Commercial Banking and Wealth Management (CA$2.02 billion), and Canadian Commercial Banking and Wealth Management (CA$5.46 billion) segments.
Dividend Yield: 4.1%
Canadian Imperial Bank of Commerce (CIBC) offers a reliable dividend, with stable and growing payments over the past decade. Its dividends are well-covered by earnings, maintaining a payout ratio around 51.7%. However, recent insider selling and trading below estimated fair value may be concerns for investors. The bank's strategic leadership changes and fixed-income offerings indicate ongoing efforts to strengthen its market position and financial stability, which could impact future dividend sustainability.
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$903.93 million.