Top TSX Dividend Stocks Including High Liner Foods
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As the Canadian TSX has experienced a robust 14% increase over the first three quarters of the year, recent market volatility has been influenced by uncertainties surrounding the U.S. labor market, geopolitical tensions in the Middle East, and upcoming political events. In such an environment, dividend stocks can offer a measure of stability and income potential for investors seeking to navigate these uncertain times.
Top 10 Dividend Stocks In Canada
| Name | Dividend Yield | Dividend Rating |
| Whitecap Resources (TSX:WCP) | 6.81% | ★★★★★★ |
| Labrador Iron Ore Royalty (TSX:LIF) | 7.85% | ★★★★★☆ |
| Power Corporation of Canada (TSX:POW) | 5.16% | ★★★★★☆ |
| Russel Metals (TSX:RUS) | 4.17% | ★★★★★☆ |
| Enghouse Systems (TSX:ENGH) | 3.28% | ★★★★★☆ |
| Firm Capital Mortgage Investment (TSX:FC) | 8.62% | ★★★★★☆ |
| Canadian Natural Resources (TSX:CNQ) | 4.19% | ★★★★★☆ |
| Sun Life Financial (TSX:SLF) | 4.14% | ★★★★★☆ |
| Royal Bank of Canada (TSX:RY) | 3.39% | ★★★★★☆ |
| IGM Financial (TSX:IGM) | 5.43% | ★★★★★☆ |
Click here to see the full list of 30 stocks from our Top TSX Dividend Stocks screener.
Here's a peek at a few of the choices from the screener.
High Liner Foods
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: High Liner Foods Incorporated processes and markets frozen seafood products in North America, with a market cap of CA$402.64 million.
Operations: High Liner Foods generates revenue primarily through its manufacturing and marketing of prepared and packaged frozen seafood, amounting to $992.12 million.
Dividend Yield: 4.5%
High Liner Foods offers a dividend of CAD 0.15 per share, with strong coverage from both earnings and cash flows, reflected in payout ratios of 30.2% and 8.3%, respectively. Despite recent earnings growth and a history of increasing dividends over the past decade, its dividend yield is lower than top Canadian payers at 4.47%. The company's financial position is impacted by high debt levels, although recent refinancing may alleviate some pressure on interest expenses.
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$9.72 billion.
Operations: IGM Financial Inc.'s revenue is primarily derived from its Asset Management segment, contributing CA$1.21 billion, and its Wealth Management segment, which adds CA$2.30 billion.
Dividend Yield: 5.4%
IGM Financial maintains a stable dividend history, with consistent growth over the past decade. Its current dividend yield of 5.43% is below the top Canadian payers but remains attractive for income-focused investors. The payout ratios of 62.9% from earnings and 70.8% from cash flows indicate dividends are well-covered, suggesting sustainability. Recent buybacks and improved quarterly earnings further support this stability, although revenue for the first half of 2024 showed a slight decline year-over-year.