We’ve graded the largest, most liquid Canadian dividend stocks based on yield, stability and value. To earn top marks, each company must demonstrate its ability to provide a steady flow of income to investors, at a reasonable price.
The year 2023 couldn’t have arrived fast enough for Canadian investors, as 2022 was downright nasty for investing. There was nowhere to hide. No safe havens. We know stocks have ups and downs, but bonds are supposed to be reliable and offer stability, especially during rough times. But last year, they behaved almost stock-like, posting once-in-a-generation double-digit losses in 2022. Many Canadian investors expected cryptocurrencies to have their moment in the spotlight. Unfortunately, they were still not ready for prime time. We’ve witnessed how the response to a global pandemic can affect inflation and interest rates, and what it can do to asset prices. What does that mean for Canadian investors looking for stocks that pay?
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.
After coming through what felt like the Red Wedding of 2022, to liken it to a Game of Thrones plot, this year many investors would be inclined to patiently cash out of the markets, but inflation is eroding purchasing power for Canadians, and putting their savings in a basic savings account will put them even further behind. It’s counterintuitive during these times to continue investing in assets that will help protect your purchasing power.
Dividend stocks can provide some level of predictable income to buffer market volatility, but there’s no guarantee. For example, last year, the iShares S&P/TSX Canadian Dividend Aristocrats Index ETF and Vanguard FTSE Canadian High Dividend Yield Index ETF were down 8.09% and 4.3%, respectively. And that’s marginally better than the broader S&P/TSX Composite Index, which posted a 8.5% loss in 2022. It appears more volatility will come in 2023.
The recent aggressive interest rate hikes by central banks around the world (even historically dovish Japan moved the needle upward on interest rates) created inverted yield curves, which typically have been good indicators of impending recessions.
The “people” part of the People’s Republic of China had enough of COVID lockdowns and began questioning how the pandemic was playing out beyond their borders, especially after watching the maskless fans cheer on World Cup matches. (That led to censorship of the stadium stands.) Following widespread protests, China rolled back COVID restrictions in December. The country is now experiencing a health crisis that could have major economic effects globally. While Wall Street and Bay Street analysts are pounding the table for lower interest rates in a bid to stave off the calamity, it’s possible that inflation will remain sticky.
But dividend-paying stocks still have a place in many Canadians’ portfolios. For a critical mass of investors, building exposure to stocks paying increasing dividends over a long period of time is still a solid investment strategy. And paying stocks still have a purpose in 2023.
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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.
This year will bring an investing environment Canadians haven’t seen since prior to the “great financial crisis” of 2007/08: options for high-yielding fixed-income investments. With interest rates near zero for most of the past 15 years, options for yield have been extremely limited, forcing investors to take on more risk than they are comfortable with to achieve decent growth in their savings. With interest rates rising, traditional savings vehicles (like guaranteed investment certificates, a.k.a. GICs) have become more palatable. And, after years of leading a lifestyle based on “fear of missing out” (a.k.a. FOMO), Canadian investors can now choose from more investment vehicles that are aligned with their personal risk profiles and value systems.
Dividend-paying stocks are an option if you are seeking a stable stream of income and the potential for capital growth in your portfolio. If you invest in the right dividend-paying stocks, you can get the best of both. However, finding those stocks is the challenge.
One of the misconceptions about dividend stocks is that they are immune to the fluctuations of the broader stock market. The truth is: Far from it. Stocks are stocks are stocks, even ones paying dividends. You’re just as likely to lose money owning a dividend-paying stock as you are owning a non-dividend-paying growth stock.
This list of the best dividend stocks was created by MoneySense editors 16 years ago to help identify dividend-paying Canadian companies well positioned to withstand any shocks, with shares at palatable price points. But even with these promising picks, you can’t let your guard down. You have to do your homework, invest for the long term and expect volatility. (For more on this ranking, including data on yield, dividend growth, stock cash-flow generation, and value of stocks, you can read our detailed methodology.)
We’ve graded the largest, most liquid Canadian dividend stocks based on yield, stability and value. To earn top letter-grade marks, each company had to demonstrate its ability to provide a steady flow of income to investors, at a reasonable price. Rank 1 through 10 are categorized as tier 1 (shown in green below), and 11 through 20 are tier 2 (shown in blue). Rankings were based on data as of November 30, 2022.
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.
We first identified and ranked companies sporting a history of growing their dividends over the past five years. While current yield is important, ideally we want exposure to companies that have a long-term track record of growing their dividend payouts over those years. This two-pronged approach seeks to identify companies that not only offer attractive yields but are also well positioned to grow their payouts over time. This criteria accounted for 40% of the overall score. Among the top-ranking companies with five-year dividend growth were Winpak (77% dividend growth), Quebecor Inc. (66.9%) and ECN Capital Corp. (57.2%).
Note: All figures are accurate as of Nov. 30, 2022.
Sky-high dividend yields are meaningless if the company can’t generate stable, consistent cash flows in the future. To try to avoid this risk, we targeted companies that should be able to consistently generate high returns on scarce capital. For this criteria, we also attempted to identify companies with the means to continue their dividends even if they hit minor setbacks.
To accomplish this, we screened for profitable companies that are not reportedly weighed down by debt (an even more important factor in a rising-interest-rate environment), demonstrating high return on equity and earning more than they pay out in dividends. This criteria accounted for another 40% of the overall score. Among the leading companies in five-year earnings growth were Hudbay Minerals (40.9% earnings growth), Colliers International Group Inc. (37.2%) and Canadian Natural Resources (30%).
wdt_ID Symbol Company Rank Weighted rank 5-year EPS growth EPS/Div-Share Debt/Equity
1
HBM-T
Hudbay Minerals Inc
1
0.4
40.89%
1.02225
0
2
CIGI-T
Colliers International Group Inc
2
0.8
37.20%
0.465
0
3
CNQ-T
Canadian Natural Resources Ltd.
3
1.2
30.03%
0.25025
0
4
YRI-T
Yamana Gold Inc
4
1.6
15.87%
0.0991875
0
5
TA-T
Transalta Corp
5
2
12.01%
0.06005
0
6
GEI-T
Gibson Energy Inc
6
2.4
0.00%
0
0
7
BDGI-T
Badger Infrastructure Solutions Ltd
7
2.8
0.00%
0
0
8
ONEX-T
Onex Corp
8
3.2
0.00%
0
0
9
BLX-T
Boralex Inc
9
3.6
0.00%
0
0
10
RNW-T
Transalta Renewables Inc
10
4
0.00%
0
0
11
BMO-T
Bank of Montreal
11
4.4
0.00%
0
0
12
CSU-T
Constellation Software Inc
12
4.8
0.00%
0
0
13
MTL-T
Mullen Group Ltd
13
5.2
0.00%
0
0
14
IGM-T
Igm Financial Inc
14
5.6
-0.12%
-0.0002142857143
0
15
ECN-T
Ecn Capital Corp
15
6
58.49%
0.09748333333
0.01
16
CJT-T
Cargojet Inc
16
6.4
0.00%
0
0.01
17
TRP-T
Tc Energy Corp
17
6.8
-6.97%
-0.01025
0.02
18
SU-T
Suncor Energy Inc
18
7.2
13.79%
0.01915277778
0.03
19
BTO-T
B2Gold Corp
19
7.6
0.00%
0
0.03
20
WFG-T
West Fraser Timber CO Ltd
20
8
0.00%
0
0.03
21
RUS-T
Russel Metals
21
8.4
13.81%
0.01644047619
0.05
22
GSY-T
Goeasy Ltd
22
8.8
56.26%
0.06393181818
0.06
23
FTT-T
Finning Intl
23
9.2
0.00%
0
0.06
24
WCP-T
Whitecap Resources Inc
24
9.6
25.97%
0.02705208333
0.08
25
NTR-T
Nutrien Ltd
25
10
21.33%
0.02133
0.09
26
FNV-T
Franco-Nevada Corp
26
10.4
0
0
0.09
27
LIF-T
Labrador Iron Ore Royalty Corp
27
10.8
-31.35%
-0.02902777778
0.1
28
EMP-A-T
Empire Company Ltd
28
11.2
18.59%
0.01659821429
0.12
29
TCN-T
Tricon Capital Group Inc
29
11.6
-4.14%
-0.003568965517
0.12
30
DOO-T
Brp Inc
30
12
0.00%
0
0.17
31
WPM-T
Wheaton Precious Metals Corp
31
12.4
0
0
0.18
32
FSV-T
Firstservice Corp
32
12.8
0.00%
0
0.18
33
AEM-T
Agnico Eagle Mines Ltd
33
13.2
6.42%
0.004863636364
0.19
34
IFC-T
Intact Financial Corp
34
13.6
5.76%
0.004235294118
0.2
35
TECK-B-T
Teck Resources Ltd Cl B
35
14
0.00%
0
0.2
36
QBR-B-T
Quebecor Inc Cl B Sv
36
14.4
15.28%
0.01061111111
0.21
37
SSRM-T
Ssr Mining Inc
37
14.8
8.21%
0.005547297297
0.23
38
TRI-T
Thomson Reuters Corp
38
15.2
46.82%
0.03080263158
0.26
39
MFC-T
Manulife Fin
39
15.6
10.67%
0.00683974359
0.27
40
CAR-UN-T
CDN Apartment Un
40
16
20.21%
0.01263125
0.28
41
ATD-T
Alimentation Couche-Tard Inc.
41
16.4
10.84%
0.006609756098
0.28
42
RCH-T
Richelieu Hardware Ltd
42
16.8
17.01%
0.010125
0.29
43
BAM-A-T
Brookfield Asset Management Inc Cl A Lv
43
17.2
42.18%
0.02452325581
0.3
44
L-T
Loblaw CO
44
17.6
20.38%
0.01157954545
0.3
45
SNC-T
Snc-Lavalin Sv
45
18
15.10%
0.008388888889
0.3
46
WCN-T
Waste Connections Inc
46
18.4
0
0
0.3
47
ARX-T
Arc Resources Ltd
47
18.8
0.00%
0
0.35
48
GIL-T
Gildan Activewear Inc
48
19.2
24.43%
0.01272395833
0.38
49
WSP-T
WSP Global Inc
49
19.6
4.41%
0.00225
0.38
50
ABX-T
Barrick Gold Corp
50
20
0.97%
0.000485
0.38
51
TIH-T
Toromont Ind
51
20.4
0
0
0.38
52
NWC-T
The North West Company Inc
52
20.8
25.58%
0.01229807692
0.39
53
CTC-A-T
Canadian Tire Corp Cl A NV
53
21.2
4.76%
0.002245283019
0.39
54
PPL-T
Pembina Pipeline Corp
54
21.6
0.00%
0
0.4
55
CP-T
Canadian Pacific Railway Ltd
55
22
-3.81%
-0.001731818182
0.4
56
TOY-T
Spin Master Corp
56
22.4
-6.80%
-0.003035714286
0.4
57
ENGH-T
Enghouse Systems Ltd
57
22.8
59.30%
0.02600877193
0.42
58
RCI-B-T
Rogers Communications Inc Cl B NV
58
23.2
0
0
0.42
59
QSR-T
Restaurant Brands International Inc
59
23.6
0
0
0.42
60
POW-T
Power Corp of Canada Sv
60
24
42.62%
0.01775833333
0.43
61
ZZZ-T
Sleep Country Canada Holdings Inc
61
24.4
42.72%
0.01750819672
0.44
62
CSH-UN-T
Chartwell Retirement Residences
62
24.8
-0.63%
-0.0002540322581
0.44
63
NA-T
National Bank of Canada
63
25.2
-18.54%
-0.007357142857
0.48
64
DOL-T
Dollarama Inc
64
25.6
14.48%
0.00565625
0.51
65
CWB-T
CDN Western Bank
65
26
0.00%
0
0.51
66
TD-T
Toronto-Dominion Bank
66
26.4
5.22%
0.001977272727
0.52
67
CCL-B-T
Ccl Industries Inc Cl B NV
67
26.8
9.47%
0.00353358209
0.56
68
X-T
Tmx Group Ltd
68
27.2
8.09%
0.002974264706
0.56
69
SLF-T
Sun Life Financial Inc
69
27.6
17.45%
0.006322463768
0.57
70
RBA-T
Ritchie Bros Auctioneers Inc
70
28
11.16%
0.003985714286
0.58
71
AIF-T
Altus Group Ltd
71
28.4
6.86%
0.002415492958
0.58
72
SJ-T
Stella Jones Inc
72
28.8
9.86%
0.003423611111
0.61
73
CCA-T
Cogeco Communications Inc
73
29.2
0.00%
0
0.61
74
EMA-T
Emera Incorporated
74
29.6
-4.42%
-0.001493243243
0.61
75
ENB-T
Enbridge Inc
75
30
14.53%
0.004843333333
0.62
76
IAG-T
IA Financial Corp Inc
76
30.4
15.50%
0.005098684211
0.63
77
CNR-T
Canadian National Railway Co.
77
30.8
0
0
0.63
78
STN-T
Stantec Inc
78
31.2
19.26%
0.006173076923
0.64
79
RY-T
Royal Bank of Canada
79
31.6
9.57%
0.003028481013
0.64
80
TFII-T
Tfi International Inc
80
32
15.02%
0.00469375
0.65
81
MRU-T
Metro Inc
81
32.4
6.93%
0.002138888889
0.67
82
FTS-T
Fortis Inc
82
32.8
112.40%
0.03426829268
0.69
83
IMO-T
Imperial Oil
83
33.2
760%
0.2289156627
0.72
84
H-T
Hydro One Ltd
84
33.6
18.91%
0.00562797619
0.72
85
SII-T
Sprott Inc
85
34
0
0
0.74
86
PKI-T
Parkland Fuel Corp
86
34.4
0
0
0.78
87
CM-T
Canadian Imperial Bank of Commerce
87
34.8
12.68%
0.003643678161
0.8
88
PEY-T
Peyto Exploration and Dvlpmnt Corp
88
35.2
12.98%
0.0036875
0.85
89
HCG-T
Home Capital Group Inc
89
35.6
8.09%
0.00227247191
0.85
90
NPI-T
Northland Power Inc
90
36
0.00%
0
0.87
91
PBH-T
Premium Brands Holdings Corp
91
36.4
-2.33%
-0.0006401098901
0.89
92
MTY-T
Mty Food Group Inc
92
36.8
4.85%
0.001317934783
0.9
93
GWO-T
Great-West Lifeco Inc
93
37.2
17.14%
0.004607526882
0.92
94
AQN-T
Algonquin Power and Utilities Corp
94
37.6
27.09%
0.007204787234
0.93
95
PLC-T
Park Lawn Corp
95
38
846%
0.2226315789
0.95
96
BNS-T
Bank of Nova Scotia
96
38.4
11.86%
0.003088541667
0.99
97
KEY-T
Keyera Corp
97
38.8
-9.08%
-0.002340206186
1.03
98
T-T
Telus Corp
98
39.2
14.80%
0.003775510204
1.05
99
SIA-T
Sienna Senior Living Inc
99
39.6
5.88%
0.001484848485
1.09
100
CIX-T
CI Financial Corp
100
40
0.00%
0
1.1
101
WTE-T
Westshore Terminals Investment Corp
101
40.4
-18.30%
-0.00452970297
1.14
102
BYD-T
Boyd Group Services Inc
102
40.8
504%
0.1235294118
1.15
103
BIR-T
Birchcliff Energy Ltd
103
41.2
0.81%
0.0001966019417
1.15
104
VET-T
Vermilion Energy Inc
104
41.6
-3.7
-0.08894230769
1.19
105
ASTL-T
Algoma Steel Group Inc
105
42
-15.59%
-0.003711904762
1.22
106
LUN-T
Lundin Mining Corp
106
42.4
3.44%
0.0008113207547
1.25
107
TOU-T
Tourmaline Oil Corp
107
42.8
37.01%
0.008647196262
1.26
108
STLC-T
Stelco Holdings Inc
108
43.2
8.26%
0.001912037037
1.27
109
TVE-T
Tamarack Valley Energy Ltd
109
43.6
18.12%
0.004155963303
1.32
110
FM-T
First Quantum Minerals Ltd
110
44
5.02%
0.001140909091
1.34
111
MX-T
Methanex Corp
111
44.4
0.00%
0
1.34
112
CVE-T
Cenovus Energy Inc
112
44.8
6.67%
0.001488839286
1.35
113
PXT-T
Parex Resources Inc
113
45.2
3.97%
0.0008783185841
1.37
114
CCO-T
Cameco Corp
114
45.6
4.61%
0.001010964912
1.4
115
PSI-T
Pason Systems Inc
115
46
-2.13%
-0.0004630434783
1.43
116
DFY-T
Definity Financial Corporation
116
46.4
12.30%
0.002650862069
1.44
117
JWEL-T
Jamieson Wellness Inc
117
46.8
34.17%
0.007301282051
1.45
118
DPM-T
Dundee Precious Metals Inc
118
47.2
0.00%
0
1.54
119
AGI-T
Alamos Gold Inc Cls A
119
47.6
63.33%
0.01330462185
1.55
120
TPZ-T
Topaz Energy Corp
120
48
0.00%
0
1.56
121
INE-T
Innergex Renewable Energy Inc
121
48.4
11.48%
0.002371900826
1.58
122
FFH-T
Fairfax Financial Holdings Ltd
122
48.8
8.55%
0.00175204918
1.58
123
PRMW-T
Primo Water Corp
123
49.2
8.45%
0.001717479675
1.58
124
K-T
Kinross Gold Corp
124
49.6
0.00%
0
1.65
125
OR-T
Osisko Gold Royalties Ltd
125
50
5.08%
0.001016
1.7
126
CJR-B-T
Corus Entertainment Inc Cl B NV
126
50.4
-3.22%
-0.0006388888889
1.73
127
NFI-T
Nfi Group Inc.
127
50.8
-12.87%
-0.002533464567
1.76
128
SES-T
Secure Energy Services Inc
128
51.2
-10.10%
-0.00197265625
1.79
129
CG-T
Centerra Gold Inc
129
51.6
2.80%
0.0005426356589
1.8
130
DND-T
Dye & Durham Ltd
130
52
0.00%
0
1.82
131
GFL-T
Gfl Environmental Inc
131
52.4
0
0
1.92
132
FR-T
First Majestic Silver Corp Common
132
52.8
1.77%
0.0003352272727
2.23
133
WPK-T
Winpak Ltd
133
53.2
-6.19%
-0.001163533835
2.3
134
MG-T
Magna International Inc
134
53.6
1085%
0.2024253731
2.52
135
BCE-T
BCE Inc
135
54
-4.82%
-0.0008925925926
2.53
136
SJR-B-T
Shaw Communications Inc Cl B NV
136
54.4
0
0
2.57
137
EIF-T
Exchange Income Corp
137
54.8
45.66%
0.008332116788
2.65
138
SSL-T
Sandstorm Gold Ltd
138
55.2
-8.36%
-0.001514492754
2.66
139
LNR-T
Linamar Corp
139
55.6
4.32%
0.0007769784173
2.77
140
TCL-A-T
Transcontinental Inc Cl A Sv
140
56
7.91%
0.0014125
2.81
141
EFN-T
Element Fleet Management Corp
141
56.4
5.42%
0.0009609929078
2.85
142
ACO-X-T
Atco Ltd Cl I NV
142
56.8
5.20%
0.0009154929577
2.88
143
ERF-T
Enerplus Corp
143
57.2
12.35%
0.002159090909
2.93
144
PAAS-T
Pan American Silver Corp
144
57.6
5.49%
0.000953125
3.16
145
WN-T
Weston George
145
58
13.64%
0.002351724138
3.44
146
MFI-T
Maple Leaf Foods
146
58.4
0
0
3.55
147
CU-T
Canadian Utilities Ltd Cl A NV
147
58.8
18.26%
0.003105442177
3.98
148
SPB-T
Superior Plus Corp
148
59.2
23.72%
0.004006756757
4.16
149
CPX-T
Capital Power Corp
149
59.6
0
0
4.17
150
OTEX-T
Open Text Corp
150
60
0.00%
0
4.22
151
SAP-T
Saputo Inc
151
60.4
-25.70%
-0.004254966887
4.58
152
LB-T
Laurentian Bank
152
60.8
13.16%
0.002164473684
6.12
153
POU-T
Paramount Resources Ltd
153
61.2
129.75%
0.02120098039
7.12
154
ALA-T
Altagas Ltd
154
61.6
32.61%
0.005293831169
14.48
155
AP-UN-T
Allied Properties Real Estate Inv Trust
155
62
0
0
0
156
AX-UN-T
Artis Real Estate Investment Trust Units
156
62.4
0
0
0
157
BBU-UN-T
Brookfield Business Partners LP
157
62.8
0
0
0
158
BEI-UN-T
Boardwalk Real Estate Investment Trust
158
63.2
0
0
0
159
BEP-UN-T
Brookfield Renewable Partners LP
159
63.6
0
0
0
160
BIP-UN-T
Brookfield Infra Partners LP Units
160
64
0
0
0
161
CHP-UN-T
Choice Properties REIT
161
64.4
0
0
0
162
CPG-T
Crescent Point Energy Corp
162
64.8
0
0
0
163
CRR-UN-T
Crombie Real Estate Investment Trust
163
65.2
0
0
0
164
CRT-UN-T
CT Real Estate Investment Trust
164
65.6
0
0
0
165
DIR-UN-T
Dream Industrial REIT
165
66
0
0
0
166
EQB-T
Eqb Inc
166
66.4
0
0
0
167
FCR-UN-T
First Capital REIT Units
167
66.8
0
0
0
168
FRU-T
Freehold Royalties Ltd
168
67.2
0
0
0
169
GRT-UN-T
Granite Real Estate Investment Trust
169
67.6
0
0
0
170
HR-UN-T
H&R Real Estate Inv Trust
170
68
0
0
0
171
HWX-T
Headwater Exploration Inc
171
68.4
0
0
0
172
IIP-UN-T
Interrent Real Estate Investment Trust
172
68.8
0
0
0
173
KMP-UN-T
Killam Apartment REIT
173
69.2
0
0
0
174
LAC-T
Lithium Americas Corp
174
69.6
0
0
0
175
NWH-UN-T
Northwest Healthcare Prop REIT
175
70
0
0
0
176
PMZ-UN-T
Primaris REIT
176
70.4
0
0
0
177
PSK-T
Prairiesky Royalty Ltd
177
70.8
0
0
0
178
REI-UN-T
Riocan Real Est Un
178
71.2
0
0
0
179
SHOP-T
Shopify Inc
179
71.6
0
0
0
180
SRU-UN-T
Smartcentres Real Estate Investment Trust
180
72
0
0
0
Note: All figures are accurate as of Nov. 30, 2022.
For investors, it’s not enough that a company can simply afford its dividend. Before you commit to a stock, you’ll want to know whether it’s attractively priced. The final 20% of our scoring is allocated to stocks cheaper than typical. We rewarded companies with high earnings yields (inverse of the price/earnings ratio). The earnings yield allows us to identify profitable companies whose stocks are trading at a reasonable price. Among the top companies in earnings yield were Algoma Steel Group (74% earnings yield), Stelco Holdings (45%) and Vermilion Energy (31.8%).
2023 Best Dividends Value Table
wdt_ID Symbol Company Rank Weighted Rank Earning Yield Price/Book
1
ASTL-T
Algoma Steel Group Inc
1
0.2
74.07%
0.6
2
STLC-T
Stelco Holdings Inc
2
0.4
45.05%
1.32
3
VET-T
Vermilion Energy Inc
3
0.6
31.85%
1.33
4
WFG-T
West Fraser Timber CO Ltd
4
0.8
30.40%
0.87
5
TCN-T
Tricon Capital Group Inc
5
1
29.24%
0.62
6
PXT-T
Parex Resources Inc
6
1.2
29.15%
0.99
7
WCP-T
Whitecap Resources Inc
7
1.4
26.18%
1.2
8
RUS-T
Russel Metals
8
1.6
23.36%
1.14
9
BIR-T
Birchcliff Energy Ltd
9
1.8
23.26%
1.19
10
TVE-T
Tamarack Valley Energy Ltd
10
2
23.20%
1.37
11
TOU-T
Tourmaline Oil Corp
11
2.2
21.74%
1.75
12
NTR-T
Nutrien Ltd
12
2.4
17.70%
1.59
13
MX-T
Methanex Corp
13
2.6
17.51%
1.24
14
TECK-B-T
Teck Resources Ltd Cl B
14
2.8
17.48%
0.98
15
ARX-T
Arc Resources Ltd
15
3
16.98%
2.05
16
ERF-T
Enerplus Corp
16
3.2
16.58%
4.58
17
CIX-T
CI Financial Corp
17
3.4
15.75%
1.57
18
MFC-T
Manulife Fin
18
3.6
15.36%
0.96
19
PEY-T
Peyto Exploration and Dvlpmnt Corp
19
3.8
14.79%
1.29
20
CWB-T
CDN Western Bank
20
4
13.97%
0.65
21
LIF-T
Labrador Iron Ore Royalty Corp
21
4.2
13.87%
3.38
22
SU-T
Suncor Energy Inc
22
4.4
13.61%
1.45
23
POU-T
Paramount Resources Ltd
23
4.6
13.07%
1.26
24
CNQ-T
Canadian Natural Resources Ltd.
24
4.8
12.71%
2.34
25
BMO-T
Bank of Montreal
25
5
12.69%
1.39
26
IMO-T
Imperial Oil
26
5.2
12.50%
2.11
27
CJT-T
Cargojet Inc
27
5.4
12.50%
2.71
28
TOY-T
Spin Master Corp
28
5.6
12.12%
1.95
29
CCA-T
Cogeco Communications Inc
29
5.8
12.06%
1.25
30
BNS-T
Bank of Nova Scotia
30
6
11.43%
1.28
31
ZZZ-T
Sleep Country Canada Holdings Inc
31
6.2
11.40%
1.99
32
CTC-A-T
Canadian Tire Corp Cl A NV
32
6.4
11.34%
1.61
33
GIL-T
Gildan Activewear Inc
33
6.6
11.31%
2.85
34
CM-T
Canadian Imperial Bank of Commerce
34
6.8
10.73%
1.32
35
LUN-T
Lundin Mining Corp
35
7
10.68%
1.05
36
TD-T
Toronto-Dominion Bank
36
7.2
10.50%
1.64
37
NA-T
National Bank of Canada
37
7.4
10.17%
1.58
38
PPL-T
Pembina Pipeline Corp
38
7.6
9.95%
1.64
39
GWO-T
Great-West Lifeco Inc
39
7.8
9.93%
1.17
40
CVE-T
Cenovus Energy Inc
40
8
9.71%
1.89
41
IAG-T
IA Financial Corp Inc
41
8.2
9.68%
1.22
42
IGM-T
Igm Financial Inc
42
8.4
9.56%
1.55
43
WN-T
Weston George
43
8.6
9.23%
3.67
44
FTT-T
Finning Intl
44
8.8
8.98%
2.1
45
LNR-T
Linamar Corp
45
9
8.96%
0.88
46
HCG-T
Home Capital Group Inc
46
9.2
8.91%
1.06
47
POW-T
Power Corp of Canada Sv
47
9.4
8.89%
1.01
48
QBR-B-T
Quebecor Inc Cl B Sv
48
9.6
8.78%
4.86
49
SLF-T
Sun Life Financial Inc
49
9.8
8.58%
1.38
50
RY-T
Royal Bank of Canada
50
10
8.36%
1.82
51
TCL-A-T
Transcontinental Inc Cl A Sv
51
10.2
8.24%
0.8
52
DOO-T
Brp Inc
52
10.4
8.22%
49.86
53
GSY-T
Goeasy Ltd
53
10.6
8.20%
2.42
54
RCH-T
Richelieu Hardware Ltd
54
10.8
8.18%
2.63
55
MTL-T
Mullen Group Ltd
55
11
8.08%
1.5
56
SSL-T
Sandstorm Gold Ltd
56
11.2
8.06%
1.17
57
ACO-X-T
Atco Ltd Cl I NV
57
11.4
7.94%
1.13
58
SJ-T
Stella Jones Inc
58
11.6
7.73%
1.77
59
EMP-A-T
Empire Company Ltd
59
11.8
7.68%
2.6
60
NWC-T
The North West Company Inc
60
12
7.60%
2.85
61
KEY-T
Keyera Corp
61
12.2
7.46%
2.41
62
TFII-T
Tfi International Inc
62
12.4
7.45%
3.94
63
IFC-T
Intact Financial Corp
63
12.6
7.40%
2.59
64
NPI-T
Northland Power Inc
64
12.8
7.28%
2.46
65
FM-T
First Quantum Minerals Ltd
65
13
6.88%
1.56
66
X-T
Tmx Group Ltd
66
13.2
6.82%
1.98
67
SSRM-T
Ssr Mining Inc
67
13.4
6.78%
0.9
68
ABX-T
Barrick Gold Corp
68
13.6
6.69%
1.18
69
CAR-UN-T
CDN Apartment Un
69
13.8
6.60%
0.77
70
PSI-T
Pason Systems Inc
70
14
6.39%
3.45
71
BTO-T
B2Gold Corp
71
14.2
6.37%
1.29
72
WPK-T
Winpak Ltd
72
14.4
6.35%
1.7
73
MTY-T
Mty Food Group Inc
73
14.6
6.33%
2.08
74
CU-T
Canadian Utilities Ltd Cl A NV
74
14.8
6.03%
1.87
75
PKI-T
Parkland Fuel Corp
75
15
6.00%
2.35
76
WTE-T
Westshore Terminals Investment Corp
76
15.2
5.89%
2.11
77
ATD-T
Alimentation Couche-Tard Inc.
77
15.4
5.86%
3.69
78
EMA-T
Emera Incorporated
78
15.6
5.80%
1.43
79
K-T
Kinross Gold Corp
79
15.8
5.73%
0.91
80
DPM-T
Dundee Precious Metals Inc
80
16
5.73%
0.97
81
GEI-T
Gibson Energy Inc
81
16.2
5.53%
5.74
82
EIF-T
Exchange Income Corp
82
16.4
5.45%
2
83
CCL-B-T
Ccl Industries Inc Cl B NV
83
16.6
5.39%
2.71
84
MG-T
Magna International Inc
84
16.8
5.34%
1.66
85
TRP-T
Tc Energy Corp
85
17
5.31%
1.84
86
HBM-T
Hudbay Minerals Inc
86
17.2
5.27%
0.92
87
L-T
Loblaw CO
87
17.4
5.24%
3.54
88
ENGH-T
Enghouse Systems Ltd
88
17.6
5.17%
3.62
89
T-T
Telus Corp
89
17.8
5.11%
2.42
90
YRI-T
Yamana Gold Inc
90
18
5.09%
1.16
91
RBA-T
Ritchie Bros Auctioneers Inc
91
18.2
5.07%
4.8
92
FTS-T
Fortis Inc
92
18.4
5.05%
1.32
93
RCI-B-T
Rogers Communications Inc Cl B NV
93
18.6
5.02%
3.21
94
ENB-T
Enbridge Inc
94
18.8
4.86%
1.94
95
BCE-T
BCE Inc
95
19
4.83%
3.11
96
EFN-T
Element Fleet Management Corp
96
19.2
4.82%
2.3
97
TIH-T
Toromont Ind
97
19.4
4.72%
3.8
98
QSR-T
Restaurant Brands International Inc
98
19.6
4.71%
8.65
99
H-T
Hydro One Ltd
99
19.8
4.70%
1.94
100
WPM-T
Wheaton Precious Metals Corp
100
20
4.63%
2.62
101
MRU-T
Metro Inc
101
20.2
4.62%
2.77
102
BAM-A-T
Brookfield Asset Management Inc Cl A Lv
102
20.4
4.57%
1.76
103
PBH-T
Premium Brands Holdings Corp
103
20.6
4.51%
2.04
104
CNR-T
Canadian National Railway Co.
104
20.8
4.28%
5.3
105
SJR-B-T
Shaw Communications Inc Cl B NV
105
21
4.13%
2.95
106
PLC-T
Park Lawn Corp
106
21.2
4.04%
1.16
107
ECN-T
Ecn Capital Corp
107
21.4
4.04%
3.91
108
LB-T
Laurentian Bank
108
21.6
3.98%
0.54
109
JWEL-T
Jamieson Wellness Inc
109
21.8
3.62%
3.35
110
TPZ-T
Topaz Energy Corp
110
22
3.19%
2.25
111
DFY-T
Definity Financial Corporation
111
22.2
3.11%
2.06
112
SAP-T
Saputo Inc
112
22.4
3.01%
1.95
113
DOL-T
Dollarama Inc
113
22.6
2.98%
0
114
ALA-T
Altagas Ltd
114
22.8
2.97%
0.91
115
CP-T
Canadian Pacific Railway Ltd
115
23
2.87%
2.68
116
AEM-T
Agnico Eagle Mines Ltd
116
23.2
2.83%
1.42
117
FNV-T
Franco-Nevada Corp
117
23.4
2.72%
4.47
118
TA-T
Transalta Corp
118
23.6
2.69%
5.55
119
SIA-T
Sienna Senior Living Inc
119
23.8
2.67%
1.87
120
STN-T
Stantec Inc
120
24
2.58%
3.35
121
CPX-T
Capital Power Corp
121
24.2
2.32%
1.87
122
WSP-T
WSP Global Inc
122
24.4
2.28%
3.45
123
SII-T
Sprott Inc
123
24.6
2.22%
3.24
124
WCN-T
Waste Connections Inc
124
24.8
2.21%
5.26
125
RNW-T
Transalta Renewables Inc
125
25
2.05%
2.13
126
FSV-T
Firstservice Corp
126
25.2
2.04%
6.38
127
TRI-T
Thomson Reuters Corp
127
25.4
1.91%
4.46
128
OTEX-T
Open Text Corp
128
25.6
1.88%
2.05
129
CIGI-T
Colliers International Group Inc
129
25.8
1.78%
8.3
130
DND-T
Dye & Durham Ltd
130
26
1.51%
1.21
131
CSU-T
Constellation Software Inc
131
26.2
1.43%
22.52
132
BDGI-T
Badger Infrastructure Solutions Ltd
132
26.4
1.30%
3.24
133
SNC-T
Snc-Lavalin Sv
133
26.6
1.28%
1.42
134
AQN-T
Algonquin Power and Utilities Corp
134
26.8
0.95%
0.97
135
BYD-T
Boyd Group Services Inc
135
27
0.94%
4.61
136
BLX-T
Boralex Inc
136
27.2
0.89%
2.27
137
CCO-T
Cameco Corp
137
27.4
0.88%
2.9
138
AGI-T
Alamos Gold Inc Cls A
138
27.6
0.63%
1.41
139
AIF-T
Altus Group Ltd
139
27.8
0.62%
4.11
140
CSH-UN-T
Chartwell Retirement Residences
140
28
0.37%
2.56
141
ONEX-T
Onex Corp
141
28.2
0.31%
0.53
142
CJR-B-T
Corus Entertainment Inc Cl B NV
142
28.4
0.00%
0.62
143
NFI-T
Nfi Group Inc.
143
28.6
0.00%
0.78
144
FFH-T
Fairfax Financial Holdings Ltd
144
28.8
0.00%
1.03
145
PAAS-T
Pan American Silver Corp
145
29
0.00%
1.47
146
SES-T
Secure Energy Services Inc
146
29.2
0.00%
1.72
147
OR-T
Osisko Gold Royalties Ltd
147
29.4
0.00%
1.79
148
MFI-T
Maple Leaf Foods
148
29.6
0.00%
1.82
149
FR-T
First Majestic Silver Corp Common
149
29.8
0.00%
1.89
150
PRMW-T
Primo Water Corp
150
30
0.00%
1.95
151
GFL-T
Gfl Environmental Inc
151
30.2
0.00%
2.16
152
INE-T
Innergex Renewable Energy Inc
152
30.4
0.00%
2.72
153
SPB-T
Superior Plus Corp
153
30.6
0.00%
19.08
154
AP-UN-T
Allied Properties Real Estate Inv Trust
154
30.8
0.00%
0
155
AX-UN-T
Artis Real Estate Investment Trust Units
155
31
0.00%
0
156
BBU-UN-T
Brookfield Business Partners LP
156
31.2
0.00%
0
157
BEI-UN-T
Boardwalk Real Estate Investment Trust
157
31.4
0.00%
0
158
BEP-UN-T
Brookfield Renewable Partners LP
158
31.6
0.00%
0
159
BIP-UN-T
Brookfield Infra Partners LP Units
159
31.8
0.00%
0
160
CG-T
Centerra Gold Inc
160
32
0.00%
0
161
CHP-UN-T
Choice Properties REIT
161
32.2
0.00%
0
162
CPG-T
Crescent Point Energy Corp
162
32.4
0.00%
0
163
CRR-UN-T
Crombie Real Estate Investment Trust
163
32.6
0.00%
0
164
CRT-UN-T
CT Real Estate Investment Trust
164
32.8
0.00%
0
165
DIR-UN-T
Dream Industrial REIT
165
33
0.00%
0
166
EQB-T
Eqb Inc
166
33.2
0.00%
0
167
FCR-UN-T
First Capital REIT Units
167
33.4
0.00%
0
168
FRU-T
Freehold Royalties Ltd
168
33.6
0.00%
0
169
GRT-UN-T
Granite Real Estate Investment Trust
169
33.8
0.00%
0
170
HR-UN-T
H&R Real Estate Inv Trust
170
34
0.00%
0
171
HWX-T
Headwater Exploration Inc
171
34.2
0.00%
0
172
IIP-UN-T
Interrent Real Estate Investment Trust
172
34.4
0.00%
0
173
KMP-UN-T
Killam Apartment REIT
173
34.6
0.00%
0
174
LAC-T
Lithium Americas Corp
174
34.8
0.00%
0
175
NWH-UN-T
Northwest Healthcare Prop REIT
175
35
0.00%
0
176
PMZ-UN-T
Primaris REIT
176
35.2
0.00%
0
177
PSK-T
Prairiesky Royalty Ltd
177
35.4
0.00%
0
178
REI-UN-T
Riocan Real Est Un
178
35.6
0.00%
0
179
SHOP-T
Shopify Inc
179
35.8
0.00%
0
180
SRU-UN-T
Smartcentres Real Estate Investment Trust
180
36
0.00%
0
Note: All figures are accurate as of Nov. 30, 2022.
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What was the base date utilized for your calculations of these rankings? Was it year-end 2022?
This is an important omission from your article. Many thanks
Response from Aman Raina: “Rankings were based on data as of November 30, 2022, as cited in the data tables on the Top 100 dividend stocks in Canada and Methodology pages.”
Really miss the more detailed analysis of the former Dividend All Stars sections
This top 100 list is almost useless. Doesn’t show div yield? Or simple A B C ratings? Old lists prior to 2019 were FAR superior.
yes, where are the dividend %
Or simple A B C ratings?
Looks like math salad. It’s too bad as this used to be a helpful starting point to find quality dividend stocks.
Yes I also miss the letter grades and dividend yields.
I will echo the comments of others, the presentation of the data is terrible. I’m sure there is good work that has been done but it’s been rendered useless by the poor presentation. It’s just a data dump with no analysis. I’ve used the lists for a decade or more and increased my wealth substantially focusing on investment in Grade A stocks. Seems like I will go elsewhere for that information now, end of an era for me.
This report is always done in November, why is it never available until March?? I don’t see any explanation of the stability or dividend ratings??
For details on how we determined the scores, please refer to the methodology page: https://www.moneysense.ca/save/investing/stocks/dividend-all-stars-methodology/
While digging the weighting of the various criteria is provided. The table just provides a score. Additional information should be provided, including:
+ Current Yield,
+ Current annual dividend
+ 1 Year growth in the dividend,
+ 5 year annualised growth in the dividend,
+ Dividend payout ratio,
+ All the other material that was used to determine the score for each security…
Without this additional information the table is almost useless…
For details on how we determined the scores, please refer to the methodology page: https://www.moneysense.ca/save/investing/stocks/dividend-all-stars-methodology/
Great expectations met with utterly useless salad math. Without dividend yield what is the point?