The global markets are showing signs of normalization, with central banks like the BoC making rate cuts amidst improving economic conditions. Investors are turning to dividend stocks for stability, especially those with yields of at least 3.5%. Here are the top 10 dividend stocks in Canada:
1. Bank of Nova Scotia (TSX:BNS) – 6.65% yield
2. Whitecap Resources (TSX:WCP) – 7.19% yield
3. Boston Pizza Royalties Income Fund (TSX:BPF.UN) – 8.46% yield
4. Secure Energy Services (TSX:SES) – 3.46% yield
5. Enghouse Systems (TSX:ENGH) – 3.41% yield
6. Canadian Western Bank (TSX:CWB) – 5.62% yield
7. Royal Bank of Canada (TSX:RY) – 3.92% yield
8. Russel Metals (TSX:RUS) – 4.41% yield
9. Canadian Natural Resources (TSX:CNQ) – 4.29% yield
10. Firm Capital Mortgage Investment (TSX:FC) – 9.15% yield
Alaris Equity Partners Income Trust is a private equity firm with a market cap of approximately CA$727.52 million. They reported a significant increase in net income in Q1 2024 and have a dividend yield of 8.6%. The North West Company Inc. operates as a retailer in northern Canada, rural Alaska, the South Pacific, and the Caribbean, with a market cap of CA$2.07 billion and a dividend yield of 3.6%. Toronto-Dominion Bank offers financial products and services across Canada, the United States, and other international markets, with a market cap of approximately CA$133.64 billion and a dividend yield of 5.4%.
These companies have maintained stable dividend payouts, supported by strong earnings and cash flows. Despite fluctuations in earnings, they remain committed to providing returns to investors. It’s important to conduct thorough research before making any investment decisions.