Discover 3 Top TSX Dividend Stocks With Yields Up To 7.5%
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In recent discussions, experts like Craig Fehr from Edward Jones have been analyzing the ebbs and flows of the Canadian market, noting various economic trends and market conditions that influence investment strategies. Amid these observations, dividend stocks remain a compelling option for investors looking for potential steady income streams in a fluctuating economic landscape.
Top 10 Dividend Stocks In Canada
| Name | Dividend Yield | Dividend Rating |
| Bank of Nova Scotia (TSX:BNS) | 6.57% | ★★★★★★ |
| Whitecap Resources (TSX:WCP) | 6.84% | ★★★★★★ |
| Power Corporation of Canada (TSX:POW) | 5.69% | ★★★★★☆ |
| Enghouse Systems (TSX:ENGH) | 3.80% | ★★★★★☆ |
| Secure Energy Services (TSX:SES) | 3.54% | ★★★★★☆ |
| Boston Pizza Royalties Income Fund (TSX:BPF.UN) | 8.59% | ★★★★★☆ |
| Russel Metals (TSX:RUS) | 4.59% | ★★★★★☆ |
| Canadian Natural Resources (TSX:CNQ) | 4.01% | ★★★★★☆ |
| Royal Bank of Canada (TSX:RY) | 3.71% | ★★★★★☆ |
| Sun Life Financial (TSX:SLF) | 4.74% | ★★★★★☆ |
Click here to see the full list of 32 stocks from our Top TSX Dividend Stocks screener.
We'll examine a selection from our screener results.
Canadian Western Bank
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Canadian Western Bank, operating primarily in Western Canada, offers a range of personal and business banking products and services with a market capitalization of approximately CA$2.45 billion.
Operations: Canadian Western Bank generates CA$1.08 billion from its banking operations.
Dividend Yield: 5.4%
Canadian Western Bank recently reported a solid performance with a net interest income of CA$249.76 million and net income of CA$83.48 million for Q2 2024, showing improvements from the previous year. The bank has increased its quarterly dividend to CA$0.35 per share, reflecting a consistent rise over the past decade. Despite trading 57.2% below estimated fair value and analysts predicting a potential price increase, its dividend yield at 5.37% remains lower than the top Canadian dividend payers. Additionally, with a payout ratio of 40%, dividends appear sustainable but broader long-term coverage data is lacking.
Laurentian Bank of Canada
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Laurentian Bank of Canada, headquartered in Montreal, offers a range of financial services to personal, business, and institutional clients across Canada and the U.S., with a market capitalization of approximately CA$1.09 billion.
Operations: Laurentian Bank of Canada generates revenue primarily through its Capital Markets segment, which contributed CA$0.96 billion.