Top TSX Dividend Stocks To Boost Your Portfolio
The recent volatility in the Canadian and U.S. stock markets has reminded investors of the importance of maintaining a balanced perspective during market pullbacks. Despite these fluctuations, dividend stocks remain an attractive option for those seeking consistent returns and stability in their portfolios. In this article, we will explore three top TSX dividend stocks that can help boost your portfolio amidst current market conditions.
Top 10 Dividend Stocks In Canada
Name
Dividend Yield
Dividend Rating
Bank of Nova Scotia (TSX:BNS)
6.66%
★★★★★★
Whitecap Resources (TSX:WCP)
7.30%
★★★★★★
Secure Energy Services (TSX:SES)
3.43%
★★★★★☆
Labrador Iron Ore Royalty (TSX:LIF)
8.58%
★★★★★☆
Power Corporation of Canada (TSX:POW)
6.13%
★★★★★☆
Enghouse Systems (TSX:ENGH)
3.59%
★★★★★☆
Russel Metals (TSX:RUS)
4.49%
★★★★★☆
iA Financial (TSX:IAG)
3.31%
★★★★★☆
Royal Bank of Canada (TSX:RY)
3.79%
★★★★★☆
Canadian Natural Resources (TSX:CNQ)
4.39%
★★★★★☆
Click here to see the full list of 34 stocks from our Top TSX Dividend Stocks screener.
Here’s a peek at a few of the choices from the screener.
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Evertz Technologies Limited designs, manufactures, and distributes video and audio infrastructure solutions for production, post-production, broadcast, and telecommunications markets globally with a market cap of CA$966.47 million.
Operations: Evertz Technologies Limited generates CA$514.62 million in revenue from the television broadcast equipment market.
Dividend Yield: 6.1%
Evertz Technologies’ dividend payments are covered by earnings (Payout Ratio: 84%) and cash flows (Cash Payout Ratio: 44%). Despite a history of volatility, dividends have grown over the past decade. The stock trades at good value, 54% below fair value estimates. Recent earnings show mixed results with annual sales up to C$514.62 million but quarterly net income down to C$13.76 million from C$18.42 million a year ago.
TSX:ET Dividend History as at Aug 2024
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Quebecor Inc., with a market cap of CA$7.80 billion, operates in the telecommunications, media, and sports and entertainment sectors in Canada.
Operations: Quebecor Inc. generates revenue through its telecommunications, media, and sports and entertainment businesses in Canada.
Dividend Yield: 3.9%
Quebecor pays a reliable dividend of C$0.325 per share, with payments well-covered by earnings (18.8% payout ratio) and cash flows (44.6% cash payout ratio). The company’s dividends have been stable and growing over the past decade, but its 3.85% yield is below the top 25% in Canada. Recent announcements include a share repurchase program for up to 6 million shares, enhancing shareholder value amid strong financial performance and undervaluation at 71.3% below fair value estimates.
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TSX:QBR.A Dividend History as at Aug 2024
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Rogers Sugar Inc. refines, packages, markets, and distributes sugar and maple products in Canada, the United States, Europe, and internationally with a market cap of CA$716.33 million.
Operations: Rogers Sugar Inc. generates revenue through its primary segments of sugar and maple products, serving markets in Canada, the United States, Europe, and internationally.
Dividend Yield: 6.4%
Rogers Sugar offers a dividend yield of 6.43%, placing it in the top 25% of Canadian dividend payers, but its dividends are not well-covered by free cash flows or earnings. The company has maintained stable dividends over the past decade, although they have not grown. Recent earnings show increased sales (C$309.09 million) but decreased net income (C$7.38 million). Despite financial challenges, Rogers Sugar declared a quarterly dividend of C$0.09 per share on August 8, 2024.
TSX:RSI Dividend History as at Aug 2024
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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:ET TSX:QBR.A and TSX:RSI.
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