3 TSX Dividend Stocks With Up To 6.5% Yield
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As we enter the fourth quarter, the Canadian market has experienced a strong year with the TSX up over 14%, despite recent volatility driven by uncertainties in global geopolitics and upcoming elections. In this climate, dividend stocks can offer stability and income potential, making them an attractive option for investors seeking to navigate these uncertain times.
Top 10 Dividend Stocks In Canada
| Name | Dividend Yield | Dividend Rating |
| Whitecap Resources (TSX:WCP) | 6.53% | ★★★★★★ |
| Secure Energy Services (TSX:SES) | 3.03% | ★★★★★☆ |
| Labrador Iron Ore Royalty (TSX:LIF) | 7.85% | ★★★★★☆ |
| Power Corporation of Canada (TSX:POW) | 5.20% | ★★★★★☆ |
| Enghouse Systems (TSX:ENGH) | 3.28% | ★★★★★☆ |
| Firm Capital Mortgage Investment (TSX:FC) | 8.64% | ★★★★★☆ |
| Russel Metals (TSX:RUS) | 4.13% | ★★★★★☆ |
| Sun Life Financial (TSX:SLF) | 4.13% | ★★★★★☆ |
| Royal Bank of Canada (TSX:RY) | 3.42% | ★★★★★☆ |
| Canadian Natural Resources (TSX:CNQ) | 4.22% | ★★★★★☆ |
Click here to see the full list of 31 stocks from our Top TSX Dividend Stocks screener.
We're going to check out a few of the best picks from our screener tool.
Canadian Natural Resources
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Canadian Natural Resources Limited is engaged in the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids (NGLs), with a market capitalization of approximately CA$102.11 billion.
Operations: Canadian Natural Resources Limited's revenue segments include Oil Sands Mining and Upgrading (CA$16.47 billion), Exploration and Production - North America (CA$18.15 billion), Midstream and Refining (CA$983 million), Exploration and Production - North Sea (CA$522 million), and Exploration and Production - Offshore Africa (CA$492 million).
Dividend Yield: 4.2%
Canadian Natural Resources offers a stable dividend yield of 4.22%, with dividends well-covered by earnings and cash flow, reflecting payout ratios of 56.1% and 42.6%, respectively. The company has consistently increased its dividend over the past decade, recently announcing a 7% increase to C$0.5625 per share payable in January 2025. Although trading below estimated fair value, CNQ's yield is lower than Canada's top-tier dividend payers at 5.93%.
Richards Packaging Income Fund
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Richards Packaging Income Fund, along with its subsidiaries, is involved in the design, manufacture, and distribution of packaging containers and healthcare supplies across North America, with a market cap of CA$348.37 million.