3 Canadian Dividend Stocks On TSX With Up To 6.7% Yield

In the current Canadian market landscape, concerns over tariffs and their potential impact on economic growth have been prominent, yet the overall economic backdrop remains supportive with above-trend growth and low unemployment. Amidst this environment of potential volatility and uncertainty, dividend stocks can offer investors a measure of stability and income, making them an attractive option for those looking to diversify their portfolios while navigating these complex market conditions.

Top 10 Dividend Stocks In Canada

Name	Dividend Yield	Dividend Rating
Whitecap Resources (TSX:WCP)	7.37%	★★★★★★
Acadian Timber (TSX:ADN)	6.59%	★★★★★★
Olympia Financial Group (TSX:OLY)	6.55%	★★★★★☆
Russel Metals (TSX:RUS)	4.03%	★★★★★☆
Royal Bank of Canada (TSX:RY)	3.50%	★★★★★☆
IGM Financial (TSX:IGM)	5.08%	★★★★★☆
Power Corporation of Canada (TSX:POW)	4.84%	★★★★★☆
Canadian Natural Resources (TSX:CNQ)	4.75%	★★★★★☆
Firm Capital Mortgage Investment (TSX:FC)	8.38%	★★★★★☆
Sun Life Financial (TSX:SLF)	4.02%	★★★★★☆

Click here to see the full list of 28 stocks from our Top TSX Dividend Stocks screener.

Let's uncover some gems from our specialized screener.

Bank of Montreal (TSX:BMO)

Simply Wall St Dividend Rating: ★★★★★☆

Overview: Bank of Montreal offers diversified financial services mainly in North America and has a market cap of CA$103.78 billion.

Operations: Bank of Montreal's revenue segments include BMO Capital Markets with CA$6.15 billion, BMO Wealth Management at CA$5.62 billion, U.S. Personal and Commercial Banking generating CA$8.10 billion, and Canadian Personal and Commercial Banking contributing CA$9.78 billion.

Dividend Yield: 4.5%

Bank of Montreal offers a stable dividend yield of 4.47%, supported by a payout ratio of 64.2%, indicating dividends are well-covered by earnings. Recent increases in dividends and consistent growth over the past decade reflect reliability, though the yield is lower than Canada's top dividend payers. The bank's strategic fixed-income offerings, such as recent senior unsecured notes, enhance capital management but may impact future cash flows available for dividends if not managed prudently.

• Get an in-depth perspective on Bank of Montreal's performance by reading our dividend report here.
• The analysis detailed in our Bank of Montreal valuation report hints at an inflated share price compared to its estimated value.

Evertz Technologies (TSX:ET)

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$899.09 million.

Operations: Evertz Technologies generates revenue primarily from the Television Broadcast Equipment Market, amounting to CA$494.95 million.

Dividend Yield: 6.7%

Evertz Technologies offers a high dividend yield of 6.72%, placing it among the top 25% of Canadian dividend payers. However, its dividends are not well-covered by earnings, with a payout ratio exceeding 100%. Despite recent increases, the dividends have historically been volatile and unreliable. The company's cash flows currently cover its dividends, but ongoing share repurchase programs and strategic partnerships like the one with intoPIX could impact future financial flexibility for sustaining payouts.

• Click to explore a detailed breakdown of our findings in Evertz Technologies' dividend report.
• Our expertly prepared valuation report Evertz Technologies implies its share price may be lower than expected.

Power Corporation of Canada (TSX:POW)

Simply Wall St Dividend Rating: ★★★★★☆

Overview: Power Corporation of Canada is an international management and holding company providing financial services across North America, Europe, and Asia with a market cap of CA$29.95 billion.

Operations: Power Corporation of Canada's revenue primarily comes from Lifeco at CA$39.10 billion and Power Financial - IGM at CA$3.64 billion, with additional contributions from Alternative Asset Investment Platforms amounting to CA$1.78 billion and Holding Company activities generating CA$56 million.

Dividend Yield: 4.8%

Power Corporation of Canada offers a stable dividend yield of 4.84%, though it falls short compared to the top tier in the Canadian market. The company's dividends have been reliably growing with minimal volatility over the past decade, supported by a sustainable payout ratio of 61.8% and a low cash payout ratio of 29.4%. Recent share buybacks totaling CAD 257 million indicate management's confidence, despite third-quarter earnings declining to CAD 384 million from last year's CAD 988 million.

• Click here and access our complete dividend analysis report to understand the dynamics of Power Corporation of Canada.
• The analysis detailed in our Power Corporation of Canada valuation report hints at an deflated share price compared to its estimated value.

Key Takeaways

• Gain an insight into the universe of 28 Top TSX Dividend Stocks by clicking here.
• Have a stake in these businesses? Integrate your holdings into Simply Wall St's portfolio for notifications and detailed stock reports.
• Unlock the power of informed investing with Simply Wall St, your free guide to navigating stock markets worldwide.

Interested In Other Possibilities?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
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• Find companies with promising cash flow potential yet trading below their fair value.

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.

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