Top 100 dividend stocks in Canada 2025
Use this ranking as a tool to help you identify the companies that offer the best investment potential now, based on yield, stability and value.
Image by Freepik
The best dividend stocks in Canada
In coming up with MoneySense’s annual list of Best Dividend Stocks, we make a few assumptions about what Canadian investors are looking for. First of all, you want dividends that are ample, sustainable and won’t get cut. A dividend increase every now and then would be nice, though we’ll look beyond the snobby dividend “aristocrats” that raise their payout every year without fail. (We prefer to cast our net across a wider and deeper pool.) To this end, we scan for stocks that have been consistently growing their earnings and raising dividends in recent years and have payout ratios with some wiggle room.
Second, you likely want stocks that are poised to rise in price. A stock with an 8% yield won’t do much good for your portfolio if it loses 10% of its value. (Just ask BCE shareholders!)
There’s no sure way to predict how a stock will perform, but we favour equities that are a good value to start with and show a positive earnings trajectory.
Finally, you want reassurance that management has been effective stewards of capital, such that this recent good performance isn’t subsidized by debt. That way it won’t be derailed by a nasty surprise. That’s the thinking behind the way we rank Canada’s dividend stocks, using purely quantitative factors.
Featured accounts
sponsored
Savings account
Get up to 3.50% interest on your savings without any fees.
go to site
sponsored
1-year GIC
Lock in your deposit and earn a guaranteed interest rate of 3.65%.
go to site
featured
Savings account
Earn 4.25% for 4 months on eligible deposits up to $100k. Offer ends September 30, 2025.
go to site
MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.
Scoring the best dividend stocks in Canada
- The yield score (40% weighting) looks at the current dividend yield and the growth of the dividend over the past five years.
- The stability score (40% weighting) reveals the debt-to-equity ratio, return on equity, five-year earnings growth, and ratio of earnings per share to dividends.
- The valuation score (20% weighting) reflects the stock’s earnings yield (the inverse of price-to-earnings) and price-to-book value.
Learn more about the best dividends ranking methodology.
Ranking the Best Dividend Stocks in Canada
The results of our number-crunching, in the form of the Top 100 Dividend Stocks list below, may come as a surprise to some investors. You won’t find many of the usual suspects recommended by analysts and topping daily volume lists of numbers of shares traded. The only one of the Big Five banks represented is BMO, just making the cut at #92. There’s no Fortis, no Enbridge, no Restaurant Brands.
Think of those as the premium-priced name brands of the Toronto Stock Exchange. What our ranking highlights instead are many lesser-known names that may provide better value and growth prospects for your investment dollar. Of course, we won’t know until year-end how these picks perform for 2025, but our track record using the same methodology over the past 17 years gives us some confidence—check out how our 2024 Dividend All-Stars performed here.
“The scoring system we’re using rewards companies that exhibit rapid growth, low leverage and favourable valuation metrics, areas where banks may lag due to the nature of their business. Similar fundamentals are in play for telcos,” explains investing coach Aman Raina, founder of Sage Investors, who compiled our ranking for the third consecutive year. “Compare this with the resource companies, which have been more flush with cash thanks to higher commodity prices. They thus have more latitude to increase dividends aggressively.”
The average trailing yield for the Top 100 as of November 30 was 2.83%, slightly lower than that of the S&P/TSX Composite Dividend Index, representing all the dividend payers in the S&P/TSX Composite. Still, it provides investors seeking income some cash flow combined with capital appreciation and, in the case of a market downturn, a cash-flow cushion. And if they continue to hold these stocks for the long term, the payouts are likely to grow.
Also read
The best online brokers, ranked and compared
How to use the Top 100 Dividend Stocks ranking
Consider the 2025 Top 100 Dividend Stocks table below as a starting point for your search for investing prospects, not the final destination. Always conduct your own due diligence using the latest data provided by corporate earnings reports, your brokerage and/or third-party data providers before clicking the buy button. Our screening does not account for qualitative factors such as the expertise of company management, consumer and/or technological trends, or risks peculiar to the jurisdictions in which the companies operate.
As we discuss further in our Dividend All-Stars overview story, 2024 saw a return to favourable market conditions for Canadian dividend investors. With four interest-rate cuts by the Bank of Canada last year and more expected in 2025, at least some of the capital that has been tied up in bonds and interest-bearing accounts is likely to rotate back into dividend stocks for their higher yields. That in turn should help support dividend stock prices. We wish you the best of luck in your investing choices this year.
For more info on how the scores were calculated, read the methodology.
Canada’s best dividend stocks
To view all the data in the table, slide the columns right or left using your fingers or mouse. You can filter or rearrange the rankings by using the search tool or clicking on column headings. You can also download the data to your device in Excel, CSV and PDF formats.
The top 100 dividend stocks in Canada
Rankings
Compare the best RRSP rates in Canada
Read more about investing:
Share this article Share on Facebook Share on Twitter Share on Linkedin Share on Reddit Share on Email
Related Articles
Single-stock ETFs: Approach with caution
Whether for income or day trading, these ETFs are more complex and potentially risky products than they first appear....
Canadians are turning to family—and credit—to stay afloat
As the cost of living climbs, financial help from family and increased credit use are becoming survival strategies for...
The smart seller’s secret to reducing capital gains tax in Canada
Thinking about selling a property that’s not currently your primary residence? Knowing its value is essential to calculating—and not...
Buying ETFs in Canada Tool: The MoneySense ETF Screener
Which ETFs should you invest in? Which ones best suit your risk tolerance? What about personal ethics? Check out...
Cogeco targets low-data users with new Canadian mobile service
Cogeco’s Canadian wireless launch arrives amid downgraded outlook, falling U.S. revenue, and analyst concerns.
How can couples avoid capital gains tax on property in Canada?
A MoneySense reader asks what tax and probate implications she might face if she inherits a rental property held...
The best high-interest savings accounts in Canada for 2025
Whether you want the highest interest rate or no service fees, these savings accounts will meet your needs.
The best GIC rates in Canada for 2025
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
Aimee Schalles on confronting your marriage’s hard questions early
The co-founder of online prenuptial agreement startup Jointly talks about leaving Big Law, tracking spending as a system, and...
I don’t understand why your number 1 pick would have such a low stability score.
Why would the number one pick get an A rating with a score of 10 and a low stability score? Your metrics are confusing .
Hi Catharine,
For the each factor (Dividend, Stability, and Valuation), the companies were ranked according to a set of criteria where their ranking would represent the score and was adjusted by the weighting given to each factor. The weighted scores were added up to give an overall score and were re-ranked accordingly. The logic being highest ranked companies will rank high and score high in the 3 weighted factors.
The Stability factor ranked companies by lowest debt levels and other operating criteria, so higher ranked companies will have lower debt levels. In the case of Labrador’s top ranking, it had in this case ranking of 2 in Stability factor implying that it rated among the “highest” and most stable companies in the list.
I also do not understand your rating formula.
For example LIF-T you rate as an A, and as your No. 1. Stock analysis provided by Thompson Reuters and Morningstar via TD Webbroker does not rate this stock very favorably.
Could you provide more detailed explanation on your ratings.
I am looking for information I can relay on
Can anyone give me there thoughts on Guardian Global Dividend Growth Fund Series WF Fund Code GCG570F please and thank you
Thanks for the keep your heads down and do the work research here. A bounty of data! I don’t see Enbridge. Why? I bought at CAD $51 two years ago and now in 2025 it hops, skips and jumps around $60. And the dividend is solid currently at 6.25%
I am also wondering why I see dividend percentages on your list different than what I’m actually getting? ie: Lif-T you show 9.07% and my BMO Investorline shows 10.13%. Should there be an ‘As of…” date here on top of the list?
Hi, Thanks for your question. You can find details of our methodology here: https://www.moneysense.ca/save/investing/stocks/dividend-all-stars-methodology/
The stock prices shown are as of Nov. 29, 2024 (fourth column in the table).