Amid heightened market volatility and trade uncertainties, the Canadian stock market has experienced significant fluctuations, with the TSX seeing a notable decline. However, in such turbulent times, dividend stocks can offer a measure of stability and income potential for investors seeking to navigate these choppy waters.
Top 10 Dividend Stocks In Canada
| Name | Dividend Yield | Dividend Rating |
| Whitecap Resources (TSX:WCP) | 9.48% | ★★★★★★ |
| SECURE Waste Infrastructure (TSX:SES) | 3.19% | ★★★★★☆ |
| Canadian Imperial Bank of Commerce (TSX:CM) | 4.89% | ★★★★★☆ |
| Russel Metals (TSX:RUS) | 4.43% | ★★★★★☆ |
| Savaria (TSX:SIS) | 3.43% | ★★★★★☆ |
| Olympia Financial Group (TSX:OLY) | 6.99% | ★★★★★☆ |
| Royal Bank of Canada (TSX:RY) | 3.76% | ★★★★★☆ |
| Power Corporation of Canada (TSX:POW) | 4.74% | ★★★★★☆ |
| Acadian Timber (TSX:ADN) | 6.97% | ★★★★★☆ |
| Richards Packaging Income Fund (TSX:RPI.UN) | 6.22% | ★★★★★☆ |
Click here to see the full list of 25 stocks from our Top TSX Dividend Stocks screener.
Underneath we present a selection of stocks filtered out by our screen.
IGM Financial (TSX:IGM)
Simply Wall St Dividend Rating: ★★★★★☆
Overview: IGM Financial Inc. operates in the asset management sector in Canada with a market cap of CA$9.76 billion.
Operations: IGM Financial Inc. generates revenue primarily through its Asset Management segment, which accounts for CA$1.26 billion, and its Wealth Management segment, contributing CA$2.45 billion.
Dividend Yield: 5.5%
IGM Financial Inc. maintains a stable and reliable dividend history with payments covered by both earnings (payout ratio of 57.2%) and cash flows (cash payout ratio of 51.6%). Despite a recent decline in net income to C$933.51 million, dividends have been affirmed at C$0.5625 per share, payable on April 30, 2025. The company's dividend yield is attractive at 5.47%, though below the top quartile in Canada, while trading significantly below its estimated fair value enhances its appeal for value-focused investors.
- Delve into the full analysis dividend report here for a deeper understanding of IGM Financial.
- Our comprehensive valuation report raises the possibility that IGM Financial is priced lower than what may be justified by its financials.
National Bank of Canada (TSX:NA)
Simply Wall St Dividend Rating: ★★★★★☆
Overview: National Bank of Canada offers a range of financial services to individuals, businesses, institutional clients, and governments both in Canada and internationally, with a market cap of CA$44.36 billion.
Operations: National Bank of Canada's revenue segments include Wealth Management at CA$2.90 billion, Personal and Commercial at CA$4.30 billion, Financial Markets (excluding USSF&I) at CA$3.22 billion, and U.S. Specialty Finance and International (USSF&I) at CA$1.30 billion.
Dividend Yield: 4%
National Bank of Canada offers a reliable dividend yield of 4.02%, supported by a low payout ratio (40.1%) and stable earnings growth, with net income rising to C$997 million in Q1 2025. Despite trading at 49.2% below its estimated fair value, shareholder dilution occurred over the past year, and recent investor activism highlights governance challenges. Dividends have grown consistently over the past decade, maintaining stability even amid environmental and policy-related shareholder proposals.
- Unlock comprehensive insights into our analysis of National Bank of Canada stock in this dividend report.
- The analysis detailed in our National Bank of Canada valuation report hints at an deflated share price compared to its estimated value.
Hemisphere Energy (TSXV:HME)
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Hemisphere Energy Corporation engages in the acquisition, exploration, development, and production of petroleum and natural gas interests in Canada, with a market cap of CA$167.33 million.
Operations: Hemisphere Energy Corporation generates revenue of CA$78.57 million from its petroleum and natural gas interests in Canada.
Dividend Yield: 9.2%
Hemisphere Energy recently announced a special dividend of C$0.03 per share, complementing its quarterly base dividend of C$0.025, reflecting its strong financial position. Despite earnings forecasted to decline by 7.4% annually over the next three years, dividends are well-covered by both earnings (33.2% payout ratio) and cash flows (57.2%). With a high dividend yield of 9.25%, Hemisphere ranks in the top 25% among Canadian payers but has only offered dividends for three years.
- Click here and access our complete dividend analysis report to understand the dynamics of Hemisphere Energy.
- In light of our recent valuation report, it seems possible that Hemisphere Energy is trading behind its estimated value.
Seize The Opportunity
- Explore the 25 names from our Top TSX Dividend Stocks screener here.
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Seeking Other Investments?
- Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
- Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
- 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.
Valuation is complex, but we're here to simplify it.
Discover if Hemisphere Energy might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.
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