As the Canadian market navigates through a landscape of policy uncertainties and economic resilience, the TSX has managed to reach new all-time highs, reflecting a robust backdrop despite earlier volatility. In this environment, dividend stocks offer investors an attractive opportunity for steady income, particularly when they yield up to 9.8%, making them a compelling choice for those seeking stability amid market fluctuations.
|
Name |
Dividend Yield |
Dividend Rating |
|
Sun Life Financial (TSX:SLF) |
4.00% |
★★★★★☆ |
|
Russel Metals (TSX:RUS) |
3.86% |
★★★★★☆ |
|
Royal Bank of Canada (TSX:RY) |
3.43% |
★★★★★☆ |
|
Pulse Seismic (TSX:PSD) |
7.78% |
★★★★★☆ |
|
Power Corporation of Canada (TSX:POW) |
4.67% |
★★★★★☆ |
|
National Bank of Canada (TSX:NA) |
3.33% |
★★★★★☆ |
|
IGM Financial (TSX:IGM) |
5.21% |
★★★★★☆ |
|
Canadian Imperial Bank of Commerce (TSX:CM) |
3.97% |
★★★★★☆ |
|
Atrium Mortgage Investment (TSX:AI) |
9.75% |
★★★★★☆ |
|
Acadian Timber (TSX:ADN) |
6.47% |
★★★★★☆ |
Click here to see the full list of 27 stocks from our Top TSX Dividend Stocks screener.
Underneath we present a selection of stocks filtered out by our screen.
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Magna International Inc. is a company that manufactures and supplies vehicle engineering, contract, and automotive space services with a market cap of CA$15.98 billion.
Operations: Magna International Inc.’s revenue is primarily derived from its Body Exteriors & Structures segment at $16.54 billion, followed by Power & Vision at $15.20 billion, Seating Systems at $5.66 billion, and Complete Vehicles at $5.08 billion.
Dividend Yield: 4.7%
Magna International offers a reliable dividend yield of 4.71%, though lower than the top Canadian payers. The dividend is well-supported by earnings and cash flows, with payout ratios of 47.8% and 36.5%, respectively, indicating sustainability. Recent collaborations, like the City Delivery pilot with Bell Media, highlight innovation but don’t directly impact dividends. Despite a dip in sales to US$10 billion in Q1 2025, net income rose significantly to US$146 million from US$9 million year-over-year.
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Suncor Energy Inc. is an integrated energy company operating in Canada, the United States, and internationally with a market cap of CA$63.83 billion.
Operations: Suncor Energy Inc.’s revenue segments include Oil Sands at CA$25.80 billion, Refining and Marketing at CA$31.36 billion, and Exploration and Production at CA$2.17 billion.
Dividend Yield: 4.4%
Suncor Energy’s quarterly dividend of C$0.57 per share reflects its commitment to shareholder returns, supported by a 46.1% payout ratio from earnings and a 31.1% cash payout ratio, ensuring coverage and sustainability despite past volatility. First-quarter net income rose to C$1.69 billion, with record upstream production of 853,000 bbls/d enhancing financial stability. The company also completed significant share buybacks worth C$3.77 billion since early 2024, potentially impacting future dividend reliability positively.
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Alphamin Resources Corp., along with its subsidiaries, is involved in the production and sale of tin concentrate and has a market capitalization of approximately CA$1.11 billion.
Operations: Alphamin Resources Corp. generates revenue primarily through the production and sale of tin from its Bisie Tin Mine, amounting to $539.16 million.
Dividend Yield: 9.8%
Alphamin Resources’ dividend yield is among the top 25% in Canada, yet its track record for stability remains questionable due to recent volatility. The company’s payout ratios of 77% from earnings and 63.3% from cash flows indicate coverage, though dividends have been inconsistent over three years. Recent operational challenges, including a phased restart post-interruption and leadership changes, may affect future dividend reliability despite strong earnings growth of US$23.64 million in Q1 2025.
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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:MG TSX:SU and TSXV:AFM.
This article was originally published by Simply Wall St.
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