3 TSX Dividend Stocks With Yields Up To 6.3%
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In the last week, the Canadian market has stayed flat, though it has seen a significant rise of 27% over the past year and earnings are expected to grow by 16% per annum in the coming years. In this context, identifying dividend stocks with strong yields can be an attractive strategy for investors seeking steady income alongside potential capital appreciation.
Top 10 Dividend Stocks In Canada
| Name | Dividend Yield | Dividend Rating |
| Whitecap Resources (TSX:WCP) | 6.84% | ★★★★★★ |
| Labrador Iron Ore Royalty (TSX:LIF) | 8.15% | ★★★★★☆ |
| Power Corporation of Canada (TSX:POW) | 5.10% | ★★★★★☆ |
| Russel Metals (TSX:RUS) | 4.26% | ★★★★★☆ |
| Enghouse Systems (TSX:ENGH) | 3.36% | ★★★★★☆ |
| Firm Capital Mortgage Investment (TSX:FC) | 8.65% | ★★★★★☆ |
| Sun Life Financial (TSX:SLF) | 4.13% | ★★★★★☆ |
| Royal Bank of Canada (TSX:RY) | 3.34% | ★★★★★☆ |
| IGM Financial (TSX:IGM) | 5.40% | ★★★★★☆ |
| Canadian Natural Resources (TSX:CNQ) | 4.25% | ★★★★★☆ |
Click here to see the full list of 29 stocks from our Top TSX Dividend Stocks screener.
Underneath we present a selection of stocks filtered out by our screen.
Canadian Natural Resources
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Canadian Natural Resources Limited engages in the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids (NGLs), with a market cap of approximately CA$104.39 billion.
Operations: Canadian Natural Resources Limited generates revenue from several segments, including CA$0.98 billion from Midstream and Refining, CA$16.47 billion from Oil Sands Mining and Upgrading, CA$0.52 billion from Exploration and Production in the North Sea, CA$18.15 billion from Exploration and Production in North America, and CA$0.49 billion from Exploration and Production Offshore Africa.
Dividend Yield: 4.3%
Canadian Natural Resources has demonstrated stable and reliable dividend payments over the past decade, with a recent 7% increase to $0.5625 per share effective January 2025. The dividends are well-covered by earnings and cash flows, maintaining payout ratios of around 41-42%. Despite trading below estimated fair value, its dividend yield of 4.25% is lower than top-tier Canadian payers. Recent earnings growth supports sustainability, with revenue reaching C$9 billion in Q2 2024.
North West
Simply Wall St Dividend Rating: ★★★★★☆
Overview: The North West Company Inc. operates retail stores providing 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$2.44 billion.