The recent volatility in the Canadian and U.S. stock markets has reminded investors of the importance of maintaining a balanced perspective during market pullbacks. Despite these fluctuations, dividend stocks remain an attractive option for those seeking consistent returns and stability in their portfolios. In this article, we will explore three top TSX dividend stocks that can help boost your portfolio amidst current market conditions.

Top 10 Dividend Stocks In Canada

Click here to see the full list of 34 stocks from our Top TSX Dividend Stocks screener.

Here's a peek at a few of the choices from the screener.

Evertz Technologies

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

Overview: Evertz Technologies Limited designs, manufactures, and distributes video and audio infrastructure solutions for production, post-production, broadcast, and telecommunications markets globally with a market cap of CA$966.47 million.

Operations: Evertz Technologies Limited generates CA$514.62 million in revenue from the television broadcast equipment market.

Dividend Yield: 6.1%

Evertz Technologies' dividend payments are covered by earnings (Payout Ratio: 84%) and cash flows (Cash Payout Ratio: 44%). Despite a history of volatility, dividends have grown over the past decade. The stock trades at good value, 54% below fair value estimates. Recent earnings show mixed results with annual sales up to C$514.62 million but quarterly net income down to C$13.76 million from C$18.42 million a year ago.

• Click to explore a detailed breakdown of our findings in Evertz Technologies' dividend report.

• According our valuation report, there's an indication that Evertz Technologies' share price might be on the cheaper side.

Quebecor

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

Overview: Quebecor Inc., with a market cap of CA$7.80 billion, operates in the telecommunications, media, and sports and entertainment sectors in Canada.

Operations: Quebecor Inc. generates revenue through its telecommunications, media, and sports and entertainment businesses in Canada.

Dividend Yield: 3.9%

Quebecor pays a reliable dividend of C$0.325 per share, with payments well-covered by earnings (18.8% payout ratio) and cash flows (44.6% cash payout ratio). The company’s dividends have been stable and growing over the past decade, but its 3.85% yield is below the top 25% in Canada. Recent announcements include a share repurchase program for up to 6 million shares, enhancing shareholder value amid strong financial performance and undervaluation at 71.3% below fair value estimates.

• Unlock comprehensive insights into our analysis of Quebecor stock in this dividend report.

• Insights from our recent valuation report point to the potential undervaluation of Quebecor shares in the market.

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$716.33 million.

Operations: Rogers Sugar Inc. generates revenue through its primary segments of sugar and maple products, serving markets in Canada, the United States, Europe, and internationally.

Dividend Yield: 6.4%

Rogers Sugar offers a dividend yield of 6.43%, placing it in the top 25% of Canadian dividend payers, but its dividends are not well-covered by free cash flows or earnings. The company has maintained stable dividends over the past decade, although they have not grown. Recent earnings show increased sales (C$309.09 million) but decreased net income (C$7.38 million). Despite financial challenges, Rogers Sugar declared a quarterly dividend of C$0.09 per share on August 8, 2024.

• Click here to discover the nuances of Rogers Sugar with our detailed analytical dividend report.

• The valuation report we've compiled suggests that Rogers Sugar's current price could be quite moderate.

Make It Happen

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Looking For Alternative Opportunities?

• 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:ET TSX:QBR.A and TSX:RSI.

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