3 Canadian Dividend Stocks On TSX With Up To 7.4% Yield
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As the Canadian economy experiences a cooling labor market and anticipates further rate cuts from the Bank of Canada, investors are looking at dividend stocks as a potential opportunity to enhance portfolio returns. In this environment, selecting dividend stocks with robust yields can offer stability and income, making them an attractive option for those seeking to navigate current market conditions.
Top 10 Dividend Stocks In Canada
| Name | Dividend Yield | Dividend Rating |
| Whitecap Resources (TSX:WCP) | 7.15% | ★★★★★★ |
| Acadian Timber (TSX:ADN) | 6.52% | ★★★★★★ |
| Labrador Iron Ore Royalty (TSX:LIF) | 8.32% | ★★★★★☆ |
| Power Corporation of Canada (TSX:POW) | 5.07% | ★★★★★☆ |
| Russel Metals (TSX:RUS) | 4.33% | ★★★★★☆ |
| Enghouse Systems (TSX:ENGH) | 3.42% | ★★★★★☆ |
| Firm Capital Mortgage Investment (TSX:FC) | 8.77% | ★★★★★☆ |
| Canadian Natural Resources (TSX:CNQ) | 4.44% | ★★★★★☆ |
| Royal Bank of Canada (TSX:RY) | 3.34% | ★★★★★☆ |
| Sun Life Financial (TSX:SLF) | 4.17% | ★★★★★☆ |
Click here to see the full list of 31 stocks from our Top TSX Dividend Stocks screener.
Let's explore several standout options from the results in the screener.
Alaris Equity Partners Income Trust
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Alaris Equity Partners Income Trust is a private equity firm focused on management buyouts, growth capital, and investments in lower and middle-market companies with a market cap of CA$825.79 million.
Operations: Alaris Equity Partners Income Trust generates revenue of CA$215.71 million from unclassified services.
Dividend Yield: 7.5%
Alaris Equity Partners Income Trust offers a high dividend yield, currently in the top 25% of Canadian payers. Despite its low payout ratio of 29.5%, indicating dividends are well covered by earnings, the dividends have been volatile over the past decade with significant drops and unreliable growth. The recent affirmation of a quarterly distribution suggests commitment to payouts, but investors should be cautious given historical instability despite strong earnings growth last year.
Amerigo Resources
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Amerigo Resources Ltd., with a market cap of CA$290.15 million, operates through its subsidiary Minera Valle Central S.A. to produce and sell copper and molybdenum concentrates from Codelco’s El Teniente underground mine in Chile.
Operations: Amerigo Resources Ltd. generates revenue primarily from the production and sale of copper and molybdenum concentrates sourced from the El Teniente mine in Chile.