3 Canadian Dividend Stocks On TSX Yielding Up To 6.9%
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Over the last 7 days, the Canadian market has risen by 1.2%, contributing to a remarkable 28% increase over the past year, with earnings anticipated to grow by 16% annually in the coming years. In this environment, dividend stocks that offer strong yields and stable payouts can be attractive options for investors seeking income and potential growth.
Top 10 Dividend Stocks In Canada
| Name | Dividend Yield | Dividend Rating |
| Whitecap Resources (TSX:WCP) | 6.96% | ★★★★★★ |
| Labrador Iron Ore Royalty (TSX:LIF) | 8.14% | ★★★★★☆ |
| Power Corporation of Canada (TSX:POW) | 5.09% | ★★★★★☆ |
| Secure Energy Services (TSX:SES) | 3.01% | ★★★★★☆ |
| Enghouse Systems (TSX:ENGH) | 3.32% | ★★★★★☆ |
| Firm Capital Mortgage Investment (TSX:FC) | 8.62% | ★★★★★☆ |
| Russel Metals (TSX:RUS) | 4.24% | ★★★★★☆ |
| Sun Life Financial (TSX:SLF) | 4.14% | ★★★★★☆ |
| Royal Bank of Canada (TSX:RY) | 3.29% | ★★★★★☆ |
| Canadian Natural Resources (TSX:CNQ) | 4.28% | ★★★★★☆ |
Click here to see the full list of 30 stocks from our Top TSX Dividend Stocks screener.
Let's explore several standout options from the results in the screener.
Richards Packaging Income Fund
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Richards Packaging Income Fund, with a market cap of CA$345.63 million, designs, manufactures, and distributes packaging containers and healthcare supplies in North America.
Operations: Richards Packaging Income Fund generates revenue primarily from its Wholesale - Miscellaneous segment, which amounts to CA$415.52 million.
Dividend Yield: 5.3%
Richards Packaging Income Fund offers a stable dividend yield of 5.25%, though it falls short of the top Canadian dividend payers. The dividends have been reliable and growing over the past decade, supported by a reasonable payout ratio of 56.4% and strong cash flow coverage at 26.2%. Recent affirmations confirm consistent monthly distributions of CAD 0.11 per unit, highlighting ongoing commitment to shareholder returns despite slightly declining sales in recent earnings reports.
Secure Energy Services
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Secure Energy Services Inc. operates in the waste management and energy infrastructure sectors mainly in Canada and the United States, with a market cap of CA$3.18 billion.
Operations: Secure Energy Services Inc. generates revenue from its Energy Infrastructure segment at CA$8.61 billion and Environmental Waste Management (EWM) segment at CA$1.13 billion.