3 TSX Dividend Stocks Yielding 3.6% To 7.2%
In This Article:
Over the last 7 days, the Canadian market has risen by 1.3%, contributing to a notable 23% climb over the past year, with earnings expected to grow by 15% annually. In this environment of robust growth, dividend stocks yielding between 3.6% and 7.2% can offer investors a blend of income and potential capital appreciation, making them an attractive option for those looking to capitalize on current market conditions.
Top 10 Dividend Stocks In Canada
| Name | Dividend Yield | Dividend Rating |
| Whitecap Resources (TSX:WCP) | 6.61% | ★★★★★★ |
| Labrador Iron Ore Royalty (TSX:LIF) | 7.78% | ★★★★★☆ |
| Power Corporation of Canada (TSX:POW) | 5.09% | ★★★★★☆ |
| Enghouse Systems (TSX:ENGH) | 3.33% | ★★★★★☆ |
| Russel Metals (TSX:RUS) | 4.09% | ★★★★★☆ |
| Firm Capital Mortgage Investment (TSX:FC) | 8.58% | ★★★★★☆ |
| Richards Packaging Income Fund (TSX:RPI.UN) | 5.26% | ★★★★★☆ |
| Sun Life Financial (TSX:SLF) | 4.11% | ★★★★★☆ |
| Royal Bank of Canada (TSX:RY) | 3.33% | ★★★★★☆ |
| Canadian Natural Resources (TSX:CNQ) | 4.06% | ★★★★★☆ |
Click here to see the full list of 30 stocks from our Top TSX Dividend Stocks screener.
Here we highlight a subset of our preferred stocks from the screener.
Alaris Equity Partners Income Trust
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Alaris Equity Partners Income Trust is a private equity firm focusing on management buyouts, growth capital, and mature investments in the lower and middle market sectors, with a market cap of CA$848.54 million.
Operations: Alaris Equity Partners Income Trust generates its revenue primarily from unclassified services, amounting to CA$215.71 million.
Dividend Yield: 7.3%
Alaris Equity Partners Income Trust offers a high dividend yield of 7.29%, ranking in the top 25% of Canadian dividend payers. Despite a volatile and unreliable dividend history over the past decade, its current dividends are well-covered by earnings (payout ratio: 29.5%) and cash flows (cash payout ratio: 72.6%). Although it trades at a good value relative to peers, future earnings are expected to decline significantly, which may impact long-term sustainability.
Toronto-Dominion Bank
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: The Toronto-Dominion Bank, along with its subsidiaries, offers a range of financial products and services across Canada, the United States, and internationally, with a market cap of CA$137.19 billion.
Operations: Toronto-Dominion Bank generates revenue through several segments, including Canadian Personal and Commercial Banking at CA$17.77 billion, U.S. Retail at CA$12.75 billion, Wealth Management and Insurance at CA$12.20 billion, Wholesale Banking at CA$6.76 billion, and Corporate operations contributing CA$1.19 billion.