Canadian Natural Resources Leads These 3 TSX Dividend Stocks
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The Canadian market has seen a 1.1% increase over the last week and is up 20% over the past 12 months, with earnings forecasted to grow by 15% annually. In this thriving environment, dividend stocks like Canadian Natural Resources offer attractive opportunities for investors seeking steady income and potential growth.
Top 10 Dividend Stocks In Canada
| Name | Dividend Yield | Dividend Rating |
| Whitecap Resources (TSX:WCP) | 6.92% | ★★★★★★ |
| Secure Energy Services (TSX:SES) | 3.16% | ★★★★★☆ |
| Labrador Iron Ore Royalty (TSX:LIF) | 7.99% | ★★★★★☆ |
| Power Corporation of Canada (TSX:POW) | 5.25% | ★★★★★☆ |
| Enghouse Systems (TSX:ENGH) | 3.13% | ★★★★★☆ |
| Firm Capital Mortgage Investment (TSX:FC) | 8.59% | ★★★★★☆ |
| Canadian Natural Resources (TSX:CNQ) | 4.51% | ★★★★★☆ |
| Sun Life Financial (TSX:SLF) | 4.19% | ★★★★★☆ |
| Russel Metals (TSX:RUS) | 4.10% | ★★★★★☆ |
| Royal Bank of Canada (TSX:RY) | 3.42% | ★★★★★☆ |
Click here to see the full list of 31 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 acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs) with a market cap of CA$96.94 billion.
Operations: Canadian Natural Resources Limited generates revenue from several segments, including Midstream and Refining (CA$983 million), Oil Sands Mining and Upgrading (CA$16.47 billion), Exploration and Production in North America (CA$18.15 billion), the North Sea (CA$522 million), and Offshore Africa (CA$492 million).
Dividend Yield: 4.5%
Canadian Natural Resources (CNQ) has shown consistent dividend growth over the past decade, with stable payments and a reliable yield of 4.51%. The dividend is well-covered by both earnings (payout ratio: 56.1%) and free cash flow (cash payout ratio: 42.7%). Recent announcements include a quarterly cash dividend of C$0.525 per share, payable on October 4, 2024, and strong Q2 earnings with revenues of C$9.05 billion and net income of C$1.72 billion compared to last year’s figures.
IGM Financial
Simply Wall St Dividend Rating: ★★★★★☆
Overview: IGM Financial Inc. is a Canadian wealth and asset management company with a market cap of CA$9.52 billion.
Operations: IGM Financial Inc.'s revenue is primarily derived from its Wealth Management segment, which contributes CA$2.30 billion, and its Asset Management segment, which adds CA$1.21 billion.