TSX Dividend Stocks To Watch In October 2025

As the U.S. government shutdown creates uncertainties south of the border, Canada's market remains resilient, with investors keenly observing how these developments might influence economic momentum and stock performance. In such an environment, dividend stocks can offer a measure of stability and income potential, making them a compelling option for those looking to navigate market volatility while benefiting from steady returns.

Top 10 Dividend Stocks In Canada

Name	Dividend Yield	Dividend Rating
Sun Life Financial (TSX:SLF)	4.07%	★★★★★☆
Russel Metals (TSX:RUS)	4.09%	★★★★★☆
Royal Bank of Canada (TSX:RY)	3.04%	★★★★★☆
Pulse Seismic (TSX:PSD)	13.82%	★★★★★☆
Power Corporation of Canada (TSX:POW)	3.97%	★★★★★☆
Olympia Financial Group (TSX:OLY)	6.40%	★★★★★☆
National Bank of Canada (TSX:NA)	3.16%	★★★★★☆
Magna International (TSX:MG)	4.20%	★★★★★☆
Canadian Imperial Bank of Commerce (TSX:CM)	3.46%	★★★★★☆
Bank of Montreal (TSX:BMO)	3.67%	★★★★★☆

Click here to see the full list of 23 stocks from our Top TSX Dividend Stocks screener.

Let's uncover some gems from our specialized screener.

Parex Resources (TSX:PXT)

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

Overview: Parex Resources Inc. is involved in the exploration, development, production, and marketing of oil and natural gas in Colombia, with a market cap of CA$1.81 billion.

Operations: Parex Resources Inc. generates its revenue primarily from the exploration and production of oil and gas, amounting to $939.30 million.

Dividend Yield: 8.3%

Parex Resources offers a compelling dividend yield of 8.25%, placing it in the top 25% of Canadian dividend payers. Despite only four years of consistent payments, dividends have shown growth and reliability. The company's payout ratios indicate that dividends are well covered by both earnings (83.9%) and cash flows (69.7%). Recent production results align with guidance, but profit margins have decreased from the previous year, suggesting potential volatility in future earnings stability.

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

Hemisphere Energy (TSXV:HME)

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

Overview: Hemisphere Energy Corporation acquires, explores, develops, and produces petroleum and natural gas properties in Canada with a market cap of CA$205.99 million.

Operations: Hemisphere Energy Corporation generates revenue primarily from its petroleum and natural gas interests, amounting to CA$82.14 million.

Dividend Yield: 7.2%

Hemisphere Energy's dividend yield of 7.24% ranks in the top 25% among Canadian payers, with payments consistently covered by earnings and cash flows, maintaining low payout ratios of 30.5% and 37.5%, respectively. Although dividends have only been issued for three years, they show growth without significant volatility. Despite a recent decline in quarterly earnings to C$7.05 million from C$10.39 million year-over-year, Hemisphere continues to support its dividend policy through stable financial management and strategic share buybacks totaling C$11.44 million.

• Navigate through the intricacies of Hemisphere Energy with our comprehensive dividend report here.
• The valuation report we've compiled suggests that Hemisphere Energy's current price could be quite moderate.

Whitecap Resources (TSX:WCP)

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

Overview: Whitecap Resources Inc. is involved in the acquisition, development, and production of petroleum and natural gas properties in Western Canada, with a market cap of CA$13.17 billion.

Operations: Whitecap Resources Inc.'s revenue primarily comes from its Oil & Gas - Exploration & Production segment, which generated CA$3.78 billion.

Dividend Yield: 6.7%

Whitecap Resources' dividend yield of 6.68% is among the top 25% in Canada, but its sustainability is questionable due to a high cash payout ratio of 147.7%, indicating dividends are not well-covered by free cash flow. Despite stable dividends over the past decade, they have not grown and have been unreliable. Recent inclusion in the FTSE All-World Index highlights its market relevance, while earnings grew significantly by 29.9% last year, suggesting potential for future stability.

• Dive into the specifics of Whitecap Resources here with our thorough dividend report.
• The valuation report we've compiled suggests that Whitecap Resources' current price could be inflated.

Taking Advantage

• Discover the full array of 23 Top TSX Dividend Stocks right here.
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Ready To Venture Into Other Investment Styles?

• 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.

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