Top TSX Dividend Stocks To Watch: Canadian Natural Resources And Two More
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Over the last 7 days, the Canadian market has dropped 1.3%, but it is up 13% over the past year with earnings forecast to grow by 15% annually. In this dynamic environment, dividend stocks can offer stability and income potential; here are three top TSX dividend stocks to watch, starting with Canadian Natural Resources.
Top 10 Dividend Stocks In Canada
| Name | Dividend Yield | Dividend Rating |
| Whitecap Resources (TSX:WCP) | 7.53% | ★★★★★★ |
| Secure Energy Services (TSX:SES) | 3.56% | ★★★★★☆ |
| Labrador Iron Ore Royalty (TSX:LIF) | 8.89% | ★★★★★☆ |
| Enghouse Systems (TSX:ENGH) | 3.40% | ★★★★★☆ |
| Canadian Natural Resources (TSX:CNQ) | 4.66% | ★★★★★☆ |
| Russel Metals (TSX:RUS) | 4.63% | ★★★★★☆ |
| Sun Life Financial (TSX:SLF) | 4.37% | ★★★★★☆ |
| iA Financial (TSX:IAG) | 3.16% | ★★★★★☆ |
| Firm Capital Mortgage Investment (TSX:FC) | 8.65% | ★★★★★☆ |
| Royal Bank of Canada (TSX:RY) | 3.46% | ★★★★★☆ |
Click here to see the full list of 33 stocks from our Top TSX Dividend Stocks screener.
We'll examine a selection from our screener results.
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$95.67 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 - North Sea (CA$522 million), Exploration and Production - North America (CA$18.15 billion), and Exploration and Production - Offshore Africa (CA$492 million).
Dividend Yield: 4.7%
Canadian Natural Resources offers a stable and growing dividend, with payments consistently increasing over the past decade. The current dividend yield of 4.66% is lower than the top quartile of Canadian dividend payers but remains attractive due to its reliability and coverage by both earnings (56.1%) and free cash flow (42.7%). Recent affirmations include a quarterly cash dividend of C$0.525 per share, payable on October 4, 2024, reflecting ongoing commitment to shareholder returns amidst robust financial performance.
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$9.14 billion.
Operations: IGM Financial Inc. generates revenue primarily from its Wealth Management segment (CA$2.30 billion) and Asset Management segment (CA$1.21 billion).