The Canadian market has climbed 2.1% in the last 7 days and 14% over the past year, with earnings forecasted to grow by 15% annually. In such a robust environment, dividend stocks like Aecon Group stand out for their potential to provide steady income and capital appreciation.

Top 10 Dividend Stocks In Canada

Click here to see the full list of 32 stocks from our Top TSX Dividend Stocks screener.

Let's review some notable picks from our screened stocks.

Aecon Group

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

Overview: Aecon Group Inc. provides construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally, with a market cap of CA$1.05 billion.

Operations: Aecon Group Inc.'s revenue is primarily derived from its Construction segment, which generated CA$4.04 billion, and its Concessions segment, which contributed CA$34.47 million.

Dividend Yield: 4.5%

Aecon Group Inc. recently reported a significant net loss of C$123.89 million for Q2 2024, primarily due to one-off charges related to legacy projects, impacting its financial stability. Despite this, the company has maintained its quarterly dividend at C$0.19 per share and announced a share repurchase program for up to 3.1 million shares. While Aecon's dividends have been stable and growing over the past decade, current earnings do not cover these payments adequately, raising concerns about sustainability in the short term.

• Get an in-depth perspective on Aecon Group's performance by reading our dividend report here.

• Upon reviewing our latest valuation report, Aecon Group's share price might be too optimistic.

Secure Energy Services

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

Overview: Secure Energy Services Inc. operates in the waste management and energy infrastructure sectors across Canada and the United States, with a market cap of CA$2.94 billion.

Operations: Secure Energy Services Inc. generates revenue from its waste management and energy infrastructure operations primarily in Canada and the United States.

Dividend Yield: 3.3%

Secure Energy Services has shown strong earnings growth, with a 209.4% increase over the past year, and its dividends have been stable and growing for the past decade. The company’s dividend payments are well covered by both earnings (payout ratio: 20.1%) and cash flows (cash payout ratio: 38.7%). Despite trading at a good value compared to peers, significant insider selling in recent months raises some concerns about future prospects.

• Click here to discover the nuances of Secure Energy Services with our detailed analytical dividend report.

• In light of our recent valuation report, it seems possible that Secure Energy Services is trading behind its estimated value.

Total Energy Services

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

Overview: Total Energy Services Inc. is an energy services company operating mainly in Canada, the United States, and Australia with a market cap of CA$380.73 million.

Operations: Total Energy Services Inc.'s revenue segments include Well Servicing (CA$93.37 million), Contract Drilling Services (CA$286.01 million), Compression and Process Services (CA$397.05 million), and Rentals and Transportation Services (CA$82.87 million).

Dividend Yield: 3.7%

Total Energy Services offers a dividend yield of 3.67%, lower than the top 25% of Canadian dividend payers. Despite its low payout ratio of 40% and cash payout ratio of 17.6%, indicating strong coverage by earnings and cash flows, its dividend track record has been unstable over the past decade. The company recently declared a quarterly dividend of CAD 0.09 per share, payable on July 15, 2024, but reported declining sales and net income for Q1 2024 compared to last year.

• Navigate through the intricacies of Total Energy Services with our comprehensive dividend report here.

• According our valuation report, there's an indication that Total Energy Services' share price might be on the expensive side.

Next Steps

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include TSX:ARE TSX:SES and TSX:TOT.

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