3 TSX Dividend Stocks Offering Up To 4.6% Yield

As the U.S. presidential campaign unfolds, key economic issues such as government debt and trade policies are taking center stage, potentially influencing market dynamics in Canada and beyond. In this context, investors might consider the stability offered by TSX dividend stocks, particularly those with appealing yields up to 4.6%, as a way to navigate through periods of economic uncertainty and market fluctuations.

Top 10 Dividend Stocks In Canada

Name	Dividend Yield	Dividend Rating
Bank of Nova Scotia (TSX:BNS)	6.54%	★★★★★★
Whitecap Resources (TSX:WCP)	7.15%	★★★★★★
Secure Energy Services (TSX:SES)	3.42%	★★★★★☆
Boston Pizza Royalties Income Fund (TSX:BPF.UN)	8.10%	★★★★★☆
Enghouse Systems (TSX:ENGH)	3.35%	★★★★★☆
Royal Bank of Canada (TSX:RY)	3.70%	★★★★★☆
Firm Capital Mortgage Investment (TSX:FC)	8.65%	★★★★★☆
Russel Metals (TSX:RUS)	4.36%	★★★★★☆
Canadian Natural Resources (TSX:CNQ)	4.30%	★★★★★☆
Canadian Western Bank (TSX:CWB)	3.06%	★★★★★☆

Click here to see the full list of 34 stocks from our Top TSX Dividend Stocks screener.

Let's uncover some gems from our specialized screener.

Enghouse Systems (TSX:ENGH)

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

Overview: Enghouse Systems Limited, a global developer of enterprise software solutions, has a market capitalization of approximately CA$1.74 billion.

Operations: Enghouse Systems Limited generates revenue through two main segments: the Asset Management Group, which brought in CA$180.88 million, and the Interactive Management Group, with revenues of CA$299.55 million.

Dividend Yield: 3.4%

Enghouse Systems offers a modest dividend yield of 3.35%, which is lower than the top quartile of Canadian dividend stocks at 6.47%. Despite this, the company's dividends are well-supported, with a payout ratio of 65.7% and a cash payout ratio of 45.7%, indicating sustainability from both earnings and cash flow perspectives. Dividends have shown stability and growth over the past decade, aligning with consistent earnings increases as evidenced by recent quarterly results showing significant year-over-year growth in revenue and net income.

• Click here and access our complete dividend analysis report to understand the dynamics of Enghouse Systems.
• Our valuation report here indicates Enghouse Systems may be undervalued.

High Liner Foods (TSX:HLF)

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

Overview: High Liner Foods Incorporated, with a market capitalization of CA$408.95 million, is engaged in processing and marketing frozen seafood products across North America.

Operations: High Liner Foods generates CA$1.03 billion from its primary business of manufacturing and marketing prepared and packaged frozen seafood.

Dividend Yield: 4.3%

High Liner Foods reported a modest increase in Q1 2024 earnings with net income rising to US$16.6 million from US$13.89 million year-over-year, despite a sales volume decrease of 13%. The company maintains a quarterly dividend of CAD 0.15 per share, reflecting a sustainable payout ratio of 41.5% and an exceptionally low cash payout ratio of 7.9%. However, its dividend track record has been inconsistent over the past decade, and its current yield stands at a relatively low 4.3%, underperforming against the top quartile benchmark of Canadian dividend stocks at 6.47%. Recent strategic moves include appointing Darryl Bergman as CFO and initiating a share repurchase program to buy back up to 2.13% of its issued shares by June 2025.

• Navigate through the intricacies of High Liner Foods with our comprehensive dividend report here.
• Our comprehensive valuation report raises the possibility that High Liner Foods is priced lower than what may be justified by its financials.

Richards Packaging Income Fund (TSX:RPI.UN)

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

Overview: Richards Packaging Income Fund, operating in North America, specializes in the design, manufacture, and distribution of packaging containers and healthcare supplies, with a market capitalization of approximately CA$306.74 million.

Operations: Richards Packaging Income Fund generates revenue primarily through its wholesale segment, totaling approximately CA$416.97 million.

Dividend Yield: 4.6%

Richards Packaging Income Fund maintains a consistent monthly dividend of CAD 0.11 per unit, backed by a sustainable earnings payout ratio of 38.5% and a robust cash payout ratio of 19.4%. Despite a slight dip in Q1 2024 earnings to CAD 8.49 million from CAD 9.8 million year-over-year and sales falling to CAD 97.88 million from CAD 106.83 million, the fund's dividends are well-covered by both earnings and cash flow, ensuring reliability for investors seeking steady income streams. However, its yield at 4.65% is below the top quartile of Canadian dividend payers at around 6.47%, indicating less attractiveness relative to higher-yielding peers.

• Click here to discover the nuances of Richards Packaging Income Fund with our detailed analytical dividend report.
• Upon reviewing our latest valuation report, Richards Packaging Income Fund's share price might be too pessimistic.

Where To Now?

• Discover the full array of 34 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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