As the Canadian market navigates a landscape marked by ambiguous central bank guidance and potential volatility in response to economic data, investors are keenly observing how these factors might influence their portfolios. In such an environment, dividend stocks can offer a measure of stability and income, making them an appealing choice for those looking to enhance their investment strategy amidst fluctuating interest rate expectations.
Top 10 Dividend Stocks In Canada
| Name | Dividend Yield | Dividend Rating |
| Sun Life Financial (TSX:SLF) | 4.25% | ★★★★★☆ |
| Russel Metals (TSX:RUS) | 4.26% | ★★★★★☆ |
| Rogers Sugar (TSX:RSI) | 5.65% | ★★★★☆☆ |
| Power Corporation of Canada (TSX:POW) | 4.26% | ★★★★★☆ |
| Pizza Pizza Royalty (TSX:PZA) | 5.97% | ★★★★☆☆ |
| National Bank of Canada (TSX:NA) | 3.11% | ★★★★★☆ |
| Magna International (TSX:MG) | 4.18% | ★★★★★☆ |
| Hemisphere Energy (TSXV:HME) | 7.58% | ★★★★☆☆ |
| Canadian Imperial Bank of Commerce (TSX:CM) | 3.45% | ★★★★★☆ |
| Bank of Montreal (TSX:BMO) | 3.64% | ★★★★★☆ |
Click here to see the full list of 19 stocks from our Top TSX Dividend Stocks screener.
Underneath we present a selection of stocks filtered out by our screen.
Peyto Exploration & Development (TSX:PEY)
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Peyto Exploration & Development Corp. operates in the exploration, development, and production of natural gas, oil, and natural gas liquids in Alberta's deep basin with a market cap of CA$3.62 billion.
Operations: Peyto Exploration & Development Corp.'s revenue primarily comes from its oil and gas exploration and production segment, which generated CA$968.18 million.
Dividend Yield: 7.1%
Peyto Exploration & Development offers a high dividend yield of 7.15%, placing it among the top 25% of Canadian dividend payers. However, its dividends have been volatile over the past decade and are not well covered by free cash flow, with a high cash payout ratio of 96%. Despite recent earnings growth and good relative value compared to peers, Peyto's financial position is challenged by significant debt levels and unreliable dividend history.
- Unlock comprehensive insights into our analysis of Peyto Exploration & Development stock in this dividend report.
- In light of our recent valuation report, it seems possible that Peyto Exploration & Development is trading behind its estimated value.
Power Corporation of Canada (TSX:POW)
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Power Corporation of Canada is an international management and holding company offering financial services across North America, Europe, and Asia, with a market cap of CA$37.34 billion.
Operations: Power Corporation of Canada's revenue is primarily derived from its segments: Lifeco at CA$36.14 billion, IGM at CA$3.63 billion, and Alternative Asset Investment Platforms at CA$2.64 billion.
Dividend Yield: 4.3%
Power Corporation of Canada offers a stable dividend yield of 4.26%, supported by a sustainable payout ratio of 53.6% and a cash payout ratio of 34.5%. Despite trading at good value relative to peers, its yield is lower than the top Canadian dividend payers. Recent financials show net income growth, with CAD 785 million reported for Q2 2025. The company recently completed a CAD 150 million fixed-income offering, enhancing its capital structure for future dividends.
- Dive into the specifics of Power Corporation of Canada here with our thorough dividend report.
- Our expertly prepared valuation report Power Corporation of Canada implies its share price may be lower than expected.
Rogers Sugar (TSX:RSI)
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Rogers Sugar Inc. is involved in the refining, packaging, marketing, and distribution of sugar and maple products across Canada, the United States, Europe, and internationally with a market cap of CA$824.21 million.
Operations: Rogers Sugar Inc.'s revenue is primarily derived from its sugar segment, which generated CA$1.04 billion, and its maple products segment, which contributed CA$259.71 million.
Dividend Yield: 5.7%
Rogers Sugar Inc. maintains a stable dividend of 5.65%, with earnings and cash flows supporting its payout ratios of 66.5% and 44%, respectively, although the yield is slightly below top Canadian payers. Despite no growth in dividends over the past decade, recent financials show improved earnings, with net income rising to CAD 14.43 million for Q3 2025 from CAD 7.38 million a year ago, despite high debt levels and insider selling concerns.
- Take a closer look at Rogers Sugar's potential here in our dividend report.
- The analysis detailed in our Rogers Sugar valuation report hints at an inflated share price compared to its estimated value.
Make It Happen
- Gain an insight into the universe of 19 Top TSX Dividend Stocks by clicking here.
- Have you diversified into these companies? Leverage the power of Simply Wall St's portfolio to keep a close eye on market movements affecting your investments.
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Want To Explore Some Alternatives?
- 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 Rogers Sugar 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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