The Canadian market has shown impressive resilience, rising 1.1% over the last week and 21% over the past year, with earnings forecasted to grow by 15% annually. In this favorable environment, selecting dividend stocks that offer robust yields and stable growth potential can be a strategic move for investors looking to capitalize on these trends.

Top 10 Dividend Stocks In Canada

Click here to see the full list of 31 stocks from our Top TSX Dividend Stocks screener.

Let's review some notable picks from our screened stocks.

North West

Simply Wall St Dividend Rating: ★★★★★☆

Overview: The North West Company Inc. (TSX:NWC) operates retail stores offering food and everyday products to rural and urban markets in northern Canada, rural Alaska, the South Pacific, and the Caribbean, with a market cap of CA$2.47 billion.

Operations: The North West Company Inc. generates CA$2.52 billion in revenue from retailing food and everyday products and services to its diverse markets.

Dividend Yield: 3.1%

North West Company Inc. reported Q2 2024 sales of C$646.49 million, up from C$618.1 million a year ago, with net income slightly down to C$35.3 million from C$36.78 million. The company declared a quarterly dividend increase to $0.40 per share, reflecting its stable and growing dividend history over the past decade, supported by reasonable payout ratios (56.2% earnings and 72.9% cash flow). However, its 3.15% yield is lower than top Canadian dividend payers.

• Navigate through the intricacies of North West with our comprehensive dividend report here.

• Our expertly prepared valuation report North West implies its share price may be lower than expected.

Quebecor

Simply Wall St Dividend Rating: ★★★★★☆

Overview: Quebecor Inc. operates in the telecommunications, media, and sports and entertainment sectors in Canada with a market cap of CA$8.16 billion.

Operations: Quebecor Inc.'s revenue segments include CA$4.89 billion from telecommunications, CA$724 million from media, and CA$208.20 million from sports and entertainment.

Dividend Yield: 3.7%

Quebecor Inc. reported Q2 2024 sales of C$1.39 billion, slightly down from C$1.40 billion a year ago, but net income increased to C$207.6 million from C$174.1 million. The company declared a quarterly dividend of $0.325 per share and maintains a stable dividend history with low payout ratios (39.2% earnings and 44.5% cash flow). Despite its reliable dividends, Quebecor's 3.71% yield is lower than top Canadian dividend payers and it carries high debt levels.

• Take a closer look at Quebecor's potential here in our dividend report.

• Our valuation report unveils the possibility Quebecor's shares may be trading at a discount.

Rogers Sugar

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: Rogers Sugar Inc. refines, packages, markets, and distributes sugar and maple products in Canada, the United States, Europe, and internationally with a market cap of CA$748.31 million.

Operations: Rogers Sugar Inc. generates CA$981.45 million from its sugar segment and CA$225.32 million from its maple products segment.

Dividend Yield: 6.2%

Rogers Sugar Inc. declared a quarterly dividend of $0.09 per share, yielding 6.25%, which is among the top 25% in Canada but not well covered by free cash flow or earnings, with an 86% payout ratio. Q3 2024 earnings showed sales growth to C$309.09 million but a decline in net income to C$7.38 million from C$14.18 million last year, indicating potential sustainability issues despite stable dividends over the past decade.

• Delve into the full analysis dividend report here for a deeper understanding of Rogers Sugar.

• The analysis detailed in our Rogers Sugar valuation report hints at an deflated share price compared to its estimated value.

Summing It All Up

• Click this link to deep-dive into the 31 companies within our Top TSX Dividend Stocks screener.

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Contemplating Other Strategies?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.

• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.

• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include TSX:NWC TSX:QBR.A and TSX:RSI.

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