Top TSX Dividend Stocks For Reliable Income
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Over the last 7 days, the Canadian market has remained flat, though it is up 13% over the past year and earnings are expected to grow by 15% per annum over the next few years. In this stable yet promising environment, selecting dividend stocks with a history of reliable payouts and strong growth potential can provide a steady income stream for investors.
Top 10 Dividend Stocks In Canada
| Name | Dividend Yield | Dividend Rating |
| Whitecap Resources (TSX:WCP) | 7.55% | ★★★★★★ |
| Secure Energy Services (TSX:SES) | 3.52% | ★★★★★☆ |
| Labrador Iron Ore Royalty (TSX:LIF) | 8.77% | ★★★★★☆ |
| Power Corporation of Canada (TSX:POW) | 5.38% | ★★★★★☆ |
| Enghouse Systems (TSX:ENGH) | 3.37% | ★★★★★☆ |
| Canadian Natural Resources (TSX:CNQ) | 4.79% | ★★★★★☆ |
| Russel Metals (TSX:RUS) | 4.59% | ★★★★★☆ |
| iA Financial (TSX:IAG) | 3.10% | ★★★★★☆ |
| Firm Capital Mortgage Investment (TSX:FC) | 8.58% | ★★★★★☆ |
| Royal Bank of Canada (TSX:RY) | 3.41% | ★★★★★☆ |
Click here to see the full list of 33 stocks from our Top TSX Dividend Stocks screener.
Let's explore several standout options from the results in the screener.
North West
Simply Wall St Dividend Rating: ★★★★★☆
Overview: The North West Company Inc. (TSX:NWC) operates retail stores providing food and everyday products to rural and urban markets in northern Canada, rural Alaska, the South Pacific, and the Caribbean, with a market cap of CA$2.47 billion.
Operations: The North West Company Inc. generates CA$2.52 billion in revenue from retailing food and everyday products and services to its diverse markets.
Dividend Yield: 3.2%
North West Company Inc. offers a stable and reliable dividend, with payments covered by both earnings (56.2% payout ratio) and cash flows (72.9% cash payout ratio). Despite a modest yield of 3.15%, the company has consistently increased dividends over the past decade, recently raising its quarterly dividend to C$0.40 per share. Recent earnings show steady growth, with sales reaching C$646.49 million in Q2 2024 and net income at C$35.3 million, indicating financial stability conducive to sustaining dividends.
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Delve into the full analysis dividend report here for a deeper understanding of North West.
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Upon reviewing our latest valuation report, North West's share price might be too pessimistic.
Quebecor
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Quebecor Inc., with a market cap of CA$7.99 billion, operates in the telecommunications, media, and sports and entertainment sectors in Canada through its subsidiaries.
Operations: Quebecor Inc.'s revenue segments include CA$4.89 billion from telecommunications, CA$724 million from media, and CA$208.20 million from sports and entertainment.