Top 100 dividend stocks of 2023
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.
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.
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.
wdt_ID | Rank | Symbol | Company | Stability score | Dividend score | Valuation score | Total score |
---|---|---|---|---|---|---|---|
1 | 1 | CNQ-T | Canadian Natural Resources Ltd. | 1.2 | 7.2 | 4.8 | 13.2 |
2 | 2 | WFG-T | West Fraser Timber CO Ltd | 8 | 4.8 | 0.8 | 13.6 |
3 | 3 | LIF-T | Labrador Iron Ore Royalty Corp | 10.8 | 2 | 4.2 | 17 |
4 | 4 | YRI-T | Yamana Gold Inc | 1.6 | 2.4 | 18 | 22 |
5 | 5 | GSY-T | Goeasy Ltd | 8.8 | 2.8 | 10.6 | 22.2 |
6 | 6 | QBR-B-T | Quebecor Inc Cl B Sv | 14.4 | 0.8 | 9.6 | 24.8 |
7 | 7 | TECK-B-T | Teck Resources Ltd Cl B | 14 | 9.6 | 2.8 | 26.4 |
8 | 8 | ECN-T | Ecn Capital Corp | 6 | 1.2 | 21.4 | 28.6 |
9 | 9 | CJT-T | Cargojet Inc | 6.4 | 16.8 | 5.4 | 28.6 |
10 | 10 | CTC-A-T | Canadian Tire Corp Cl A NV | 21.2 | 8.8 | 6.4 | 36.4 |
11 | 11 | MFC-T | Manulife Fin | 15.6 | 17.2 | 3.6 | 36.4 |
12 | 12 | CIGI-T | Colliers International Group Inc | 0.8 | 10 | 25.8 | 36.6 |
13 | 13 | ABX-T | Barrick Gold Corp | 20 | 3.2 | 13.6 | 36.8 |
14 | 14 | ATD-T | Alimentation Couche-Tard Inc. | 16.4 | 6.4 | 15.4 | 38.2 |
15 | 15 | WPM-T | Wheaton Precious Metals Corp | 12.4 | 6 | 20 | 38.4 |
16 | 16 | BMO-T | Bank of Montreal | 4.4 | 30.4 | 5 | 39.8 |
17 | 17 | AEM-T | Agnico Eagle Mines Ltd | 13.2 | 4.4 | 23.2 | 40.8 |
18 | 18 | ONEX-T | Onex Corp | 3.2 | 10.4 | 28.2 | 41.8 |
19 | 19 | TRP-T | Tc Energy Corp | 6.8 | 18.8 | 17 | 42.6 |
20 | 20 | BDGI-T | Badger Infrastructure Solutions Ltd | 2.8 | 13.6 | 26.4 | 42.8 |
21 | 21 | EMP-A-T | Empire Company Ltd | 11.2 | 21.6 | 11.8 | 44.6 |
22 | 22 | GIL-T | Gildan Activewear Inc | 19.2 | 20.4 | 6.6 | 46.2 |
23 | 23 | WCN-T | Waste Connections Inc | 18.4 | 3.6 | 24.8 | 46.8 |
24 | 24 | ENGH-T | Enghouse Systems Ltd | 22.8 | 6.8 | 17.6 | 47.2 |
25 | 25 | IFC-T | Intact Financial Corp | 13.6 | 21.2 | 12.6 | 47.4 |
26 | 26 | TCN-T | Tricon Capital Group Inc | 11.6 | 35.2 | 1 | 47.8 |
27 | 27 | QSR-T | Restaurant Brands International Inc | 23.6 | 5.2 | 19.6 | 48.4 |
28 | 28 | FTT-T | Finning Intl | 9.2 | 32.4 | 8.8 | 50.4 |
29 | 29 | TIH-T | Toromont Ind | 20.4 | 10.8 | 19.4 | 50.6 |
30 | 30 | NA-T | National Bank of Canada | 25.2 | 18.4 | 7.4 | 51 |
31 | 31 | CCA-T | Cogeco Communications Inc | 29.2 | 16 | 5.8 | 51 |
32 | 32 | CCL-B-T | Ccl Industries Inc Cl B NV | 26.8 | 7.6 | 16.6 | 51 |
33 | 33 | IMO-T | Imperial Oil | 33.2 | 12.8 | 5.2 | 51.2 |
34 | 34 | X-T | Tmx Group Ltd | 27.2 | 11.6 | 13.2 | 52 |
35 | 35 | FSV-T | Firstservice Corp | 12.8 | 14.8 | 25.2 | 52.8 |
36 | 36 | TD-T | Toronto-Dominion Bank | 26.4 | 19.2 | 7.2 | 52.8 |
37 | 37 | SJ-T | Stella Jones Inc | 28.8 | 12.4 | 11.6 | 52.8 |
38 | 38 | CP-T | Canadian Pacific Railway Ltd | 22 | 8.4 | 23 | 53.4 |
39 | 39 | IAG-T | IA Financial Corp Inc | 30.4 | 15.2 | 8.2 | 53.8 |
40 | 40 | RUS-T | Russel Metals | 8.4 | 44 | 1.6 | 54 |
41 | 41 | ZZZ-T | Sleep Country Canada Holdings Inc | 24.4 | 24.4 | 6.2 | 55 |
42 | 42 | TFII-T | Tfi International Inc | 32 | 12 | 12.4 | 56.4 |
43 | 43 | PPL-T | Pembina Pipeline Corp | 21.6 | 27.6 | 7.6 | 56.8 |
44 | 44 | IGM-T | Igm Financial Inc | 5.6 | 43.2 | 8.4 | 57.2 |
45 | 45 | GEI-T | Gibson Energy Inc | 2.4 | 38.8 | 16.2 | 57.4 |
46 | 46 | POW-T | Power Corp of Canada Sv | 24 | 24 | 9.4 | 57.4 |
47 | 47 | BAM-A-T | Brookfield Asset Management Inc Cl A Lv | 17.2 | 20 | 20.4 | 57.6 |
48 | 48 | HBM-T | Hudbay Minerals Inc | 0.4 | 40.4 | 17.2 | 58 |
49 | 49 | TA-T | Transalta Corp | 2 | 33.6 | 23.6 | 59.2 |
50 | 50 | SLF-T | Sun Life Financial Inc | 27.6 | 22 | 9.8 | 59.4 |
51 | 51 | CWB-T | CDN Western Bank | 26 | 30 | 4 | 60 |
52 | 52 | L-T | Loblaw CO | 17.6 | 25.2 | 17.4 | 60.2 |
53 | 53 | FNV-T | Franco-Nevada Corp | 10.4 | 26.8 | 23.4 | 60.6 |
54 | 54 | BLX-T | Boralex Inc | 3.6 | 32 | 27.2 | 62.8 |
55 | 55 | RY-T | Royal Bank of Canada | 31.6 | 22.4 | 10 | 64 |
56 | 56 | CAR-UN-T | CDN Apartment Un | 16 | 34.8 | 13.8 | 64.6 |
57 | 57 | NWC-T | The North West Company Inc | 20.8 | 32.8 | 12 | 65.6 |
58 | 58 | ENB-T | Enbridge Inc | 30 | 17.6 | 18.8 | 66.4 |
59 | 59 | BTO-T | B2Gold Corp | 7.6 | 44.8 | 14.2 | 66.6 |
60 | 60 | SU-T | Suncor Energy Inc | 7.2 | 55.2 | 4.4 | 66.8 |
61 | 61 | CNR-T | Canadian National Railway Co. | 30.8 | 15.6 | 20.8 | 67.2 |
62 | 62 | RNW-T | Transalta Renewables Inc | 4 | 38.4 | 25 | 67.4 |
63 | 63 | DOL-T | Dollarama Inc | 25.6 | 19.6 | 22.6 | 67.8 |
64 | 64 | WPK-T | Winpak Ltd | 53.2 | 0.4 | 14.4 | 68 |
65 | 65 | WCP-T | Whitecap Resources Inc | 9.6 | 57.6 | 1.4 | 68.6 |
66 | 66 | NTR-T | Nutrien Ltd | 10 | 56.4 | 2.4 | 68.8 |
67 | 67 | RBA-T | Ritchie Bros Auctioneers Inc | 28 | 22.8 | 18.2 | 69 |
68 | 68 | TOY-T | Spin Master Corp | 22.4 | 42 | 5.6 | 70 |
69 | 69 | PBH-T | Premium Brands Holdings Corp | 36.4 | 14.4 | 20.6 | 71.4 |
70 | 70 | BNS-T | Bank of Nova Scotia | 38.4 | 27.2 | 6 | 71.6 |
71 | 71 | MTL-T | Mullen Group Ltd | 5.2 | 55.6 | 11 | 71.8 |
72 | 72 | ACO-X-T | Atco Ltd Cl I NV | 56.8 | 4 | 11.4 | 72.2 |
73 | 73 | CM-T | Canadian Imperial Bank of Commerce | 34.8 | 31.2 | 6.8 | 72.8 |
74 | 74 | GWO-T | Great-West Lifeco Inc | 37.2 | 28.8 | 7.8 | 73.8 |
75 | 75 | DOO-T | Brp Inc | 12 | 51.6 | 10.4 | 74 |
76 | 76 | EMA-T | Emera Incorporated | 29.6 | 29.2 | 15.6 | 74.4 |
77 | 77 | STN-T | Stantec Inc | 31.2 | 20.8 | 24 | 76 |
78 | 78 | SSRM-T | Ssr Mining Inc | 14.8 | 48.8 | 13.4 | 77 |
79 | 79 | FTS-T | Fortis Inc | 32.8 | 26.4 | 18.4 | 77.6 |
80 | 80 | LNR-T | Linamar Corp | 55.6 | 14 | 9 | 78.6 |
81 | 81 | MRU-T | Metro Inc | 32.4 | 26 | 20.2 | 78.6 |
82 | 82 | TRI-T | Thomson Reuters Corp | 15.2 | 38 | 25.4 | 78.6 |
83 | 83 | WTE-T | Westshore Terminals Investment Corp | 40.4 | 23.2 | 15.2 | 78.8 |
84 | 84 | ARX-T | Arc Resources Ltd | 18.8 | 58.8 | 3 | 80.6 |
85 | 85 | AQN-T | Algonquin Power and Utilities Corp | 37.6 | 16.4 | 26.8 | 80.8 |
86 | 86 | EFN-T | Element Fleet Management Corp | 56.4 | 5.6 | 19.2 | 81.2 |
87 | 87 | RCI-B-T | Rogers Communications Inc Cl B NV | 23.2 | 39.6 | 18.6 | 81.4 |
88 | 88 | T-T | Telus Corp | 39.2 | 24.8 | 17.8 | 81.8 |
89 | 89 | RCH-T | Richelieu Hardware Ltd | 16.8 | 54.8 | 10.8 | 82.4 |
90 | 90 | MG-T | Magna International Inc | 53.6 | 13.2 | 16.8 | 83.6 |
91 | 91 | CSU-T | Constellation Software Inc | 4.8 | 52.8 | 26.2 | 83.8 |
92 | 92 | VET-T | Vermilion Energy Inc | 41.6 | 41.6 | 0.6 | 83.8 |
93 | 93 | NPI-T | Northland Power Inc | 36 | 36 | 12.8 | 84.8 |
94 | 94 | KEY-T | Keyera Corp | 38.8 | 34 | 12.2 | 85 |
95 | 95 | WSP-T | WSP Global Inc | 19.6 | 41.2 | 24.4 | 85.2 |
96 | 96 | PKI-T | Parkland Fuel Corp | 34.4 | 36.8 | 15 | 86.2 |
97 | 97 | PAAS-T | Pan American Silver Corp | 57.6 | 1.6 | 29 | 88.2 |
98 | 98 | CSH-UN-T | Chartwell Retirement Residences | 24.8 | 36.4 | 28 | 89.2 |
99 | 99 | ASTL-T | Algoma Steel Group Inc | 42 | 47.2 | 0.2 | 89.4 |
100 | 100 | STLC-T | Stelco Holdings Inc | 43.2 | 46.8 | 0.4 | 90.4 |
Note: All figures are accurate as of November 30, 2022.
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.
The “MoneySense best dividend stocks for 2023” ranking should be viewed as a starting point for your research of Canadian dividend-paying stocks, not the end. This review of dividend-paying companies that trade on the Toronto Stock Exchange aims to identify those that offer the best investment potential now, based on quantitative factors such as yield, stability and value. You may use this list to narrow the prospective investments worthy of additional research before deciding whether they deserve to be included in your portfolio.
Our ranking does not account for other important qualitative factors, like management or economic risks, that could seriously affect a company’s performance. These are important for making investment decisions for sure, but they require a more second-level analysis best done on a company-by-company basis. By the same token, a low ranking doesn’t necessarily mean a company is a bad investment or is at risk of cutting its payout, either.
If you decide owning dividend stocks is a core element of your investing ideology, you may need to develop a playbook that aligns with your goals and values. One of the key attributes of successful investors is that, regardless of ideology, they have a plan or a process for executing investment decisions and making sure they stick to their playbook. They list the actions they need to take for the various situations and move on those plays when necessary and ideal.
Making an investing playbook can help take out the emotion of making investment decisions. If you believe dividend-paying stocks are an appropriate vehicle for growing your savings, then you would need to develop some kind of methodology for identifying dividend-paying stocks that will have a high probability of delivering a consistent and growing stream of income. The methodology used to identify the top performing dividend stocks in Canada here can provide a foundation for building your playbook.
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Maybe it’s just me but the table doesn’t down load properly.
It just keeps on spinning.
Hi Jacques, We are working to have any issues resolved as soon as possible. If you can, please email us at [email protected] with a detailed description of what you see. This would help us troubleshoot. Thank you.
please fix the greyed out table with loading symbol. Tried on 3 different browsers. Cant export too…
Hi FB, We are working to have any issues resolved as soon as possible. If you can, please email us at [email protected] with a detailed description of what you see. This would help us troubleshoot. Thank you.
Why did you change your dividend all star format from prior years? Not impressed!
I cannot make this chart work – either on-line, Excel or PDF. Any suggestions?
Hi Lynn, We are working to have any issues resolved as soon as possible. If you can, please email us at [email protected] with a detailed description of what you see. This would help us troubleshoot. Thank you.
For me the downloaded files do not contain anything other than titles.
Hi Dawn, We are working to have any issues resolved as soon as possible. If you can, please email us at [email protected] with a detailed description of what you see. This would help us troubleshoot. Thank you.
Where is the column of current yields? All the stocks I see are at less than 2%, which is not attractive to anyone, as they are running at less than the current CPI.
Would definitely add TOU on the list.
Wouldn’t this be an excellent opportunity to explain what the columns in this table are, and how they work instead of ending this article with a 3 paragraph disclaimer? If your purpose is to educate, please do so.
You can find the information you are looking for on the Methodology page here: https://www.moneysense.ca/save/investing/stocks/dividend-all-stars-methodology/
I have been following this article since it first came out and have always found it to be informative and helpful. I am missing the A, B, and C tiers that you used to have or am I missing something?
Where did CJR.B go? Last years’ rare “A” list all star to this years’ top dividend slasher! My “A” list:
1. MFC with yet another increase to $1.46/yr…~6%@ todays close
2. BNS with a massive $4.12/yr per $65 share payout~6%+ “……”
3. ENB with their 29th consecutive increase to $3.55/yr ~6.8%
….CJR.B? ~6%@$1.70 SP at todays close after cutting their div by 50%
Two issues with rankings.
When you sort by ranking the order comes out 1, 10, 11 … 19, 2, 20
Please clarify what you mean by a “low ranking”. Is 1 or 100 low?
Is there anywhere we can get the values as you have published them in prior years? I understood the format you have used over the years. I do not understand your new format at all. Please help. Thanks.
Your list doesn’t make sense…the ranking is opposite to the number of points received by the stock, and the list is cut off by ads so you can’t see all of the columns unless you download the PDF!
You need to explain what you are trying to say!
Poor Job!
…..Don
I preferred the old format that showed dividend yields, is there any way to see past reports? I’m specifically looking for dividend paying stocks.
A top 100 dividend stocks list without BCE but includes RCI? Hard to take this list seriously.