Canadian Imperial Bank of Commerce And 2 Other TSX Dividend Stocks To Consider

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The Canadian market has shown a robust performance, rising 1.6% in the last week and an impressive 25% over the past year, with earnings projected to grow by 16% annually. In this environment, dividend stocks like those from Canadian Imperial Bank of Commerce offer potential stability and income, making them worth considering for investors looking to capitalize on these favorable conditions.

Top 10 Dividend Stocks In Canada

Name

Dividend Yield

Dividend Rating

Whitecap Resources (TSX:WCP)

6.94%

★★★★★★

Labrador Iron Ore Royalty (TSX:LIF)

8.08%

★★★★★☆

Power Corporation of Canada (TSX:POW)

5.08%

★★★★★☆

Enghouse Systems (TSX:ENGH)

3.34%

★★★★★☆

Russel Metals (TSX:RUS)

4.11%

★★★★★☆

Firm Capital Mortgage Investment (TSX:FC)

8.48%

★★★★★☆

Richards Packaging Income Fund (TSX:RPI.UN)

5.30%

★★★★★☆

Sun Life Financial (TSX:SLF)

4.11%

★★★★★☆

Royal Bank of Canada (TSX:RY)

3.25%

★★★★★☆

Canadian Natural Resources (TSX:CNQ)

4.26%

★★★★★☆

Click here to see the full list of 29 stocks from our Top TSX Dividend Stocks screener.

Let's uncover some gems from our specialized screener.

Canadian Imperial Bank of Commerce

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

Overview: Canadian Imperial Bank of Commerce is a diversified financial institution offering a range of financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally with a market cap of CA$81.13 billion.

Operations: Canadian Imperial Bank of Commerce generates revenue through its Canadian Personal and Business Banking (CA$8.80 billion), Capital Markets and Direct Financial Services (CA$5.61 billion), U.S. Commercial Banking and Wealth Management (CA$2.02 billion), and Canadian Commercial Banking and Wealth Management (CA$5.46 billion) segments.

Dividend Yield: 4.2%

Canadian Imperial Bank of Commerce offers a reliable dividend with stable growth over the past decade, supported by a reasonable payout ratio of 51.7%, ensuring coverage by earnings. However, its 4.16% yield is lower than the top tier in Canada. Recent activities include a €1.25 billion fixed-income offering and leadership changes aimed at enhancing client-focused strategies, suggesting ongoing efforts to strengthen financial stability and shareholder value amidst evolving market conditions.

TSX:CM Dividend History as at Oct 2024
TSX:CM Dividend History as at Oct 2024

Peyto Exploration & Development

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