As the Canadian market navigates shifting business models and elevated valuations in the technology sector, investors are reminded of the importance of diversification, particularly as central banks hold steady on interest rates. In this context, dividend stocks like Olympia Financial Group offer a compelling opportunity for those seeking stable income and potential growth, aligning well with current market dynamics that favor sectors beyond tech.
Top 10 Dividend Stocks In Canada
| Name | Dividend Yield | Dividend Rating |
| Wajax (TSX:WJX) | 5.19% | ★★★★★☆ |
| Rogers Sugar (TSX:RSI) | 5.69% | ★★★★☆☆ |
| Pulse Seismic (TSX:PSD) | 16.49% | ★★★★★☆ |
| Power Corporation of Canada (TSX:POW) | 3.59% | ★★★★★☆ |
| Pizza Pizza Royalty (TSX:PZA) | 6.38% | ★★★★☆☆ |
| Olympia Financial Group (TSX:OLY) | 6.32% | ★★★★★☆ |
| Hemisphere Energy (TSXV:HME) | 7.27% | ★★★★☆☆ |
| Great-West Lifeco (TSX:GWO) | 3.88% | ★★★★★☆ |
| Canadian Imperial Bank of Commerce (TSX:CM) | 3.28% | ★★★★★☆ |
| Bank of Montreal (TSX:BMO) | 3.81% | ★★★★★☆ |
Click here to see the full list of 16 stocks from our Top TSX Dividend Stocks screener.
Here we highlight a subset of our preferred stocks from the screener.
Olympia Financial Group (TSX:OLY)
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Olympia Financial Group Inc., with a market cap of CA$275.50 million, operates in Canada through its subsidiary, Olympia Trust Company, as a non-deposit taking trust company.
Operations: Olympia Financial Group Inc. generates revenue through its subsidiary, Olympia Trust Company, which functions as a non-deposit taking trust company in Canada.
Dividend Yield: 6.3%
Olympia Financial Group's recent earnings report shows a decline in revenue and net income compared to the previous year, with third-quarter revenue at C$23.8 million and net income at C$4.63 million. Despite this, the company continues to affirm its monthly dividend of C$0.60 per share, supported by a low payout ratio of 20.2% from earnings and an 89.6% cash payout ratio, although historical dividend volatility raises sustainability concerns for investors seeking stable returns.
- Click to explore a detailed breakdown of our findings in Olympia Financial Group's dividend report.
- Our valuation report here indicates Olympia Financial Group may be overvalued.
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$43.37 billion.
Operations: Power Corporation of Canada's revenue primarily comes from its segments IGM (CA$3.73 billion), Lifeco (CA$31.92 billion), and Alternative Asset Investment Platforms (CA$2.93 billion).
Dividend Yield: 3.6%
Power Corporation of Canada maintains a stable and reliable dividend profile, with a quarterly dividend of C$0.6125 per share supported by a manageable payout ratio of 48.8% from earnings and 28.9% from cash flows. The company recently reported strong third-quarter earnings growth, with net income rising to C$716 million, bolstering its capacity to sustain dividends. Additionally, the completion of a C$150 million fixed-income offering reflects strategic financial management aimed at supporting long-term shareholder returns.
- Navigate through the intricacies of Power Corporation of Canada with our comprehensive dividend report here.
- Upon reviewing our latest valuation report, Power Corporation of Canada's share price might be too pessimistic.
Rogers Sugar (TSX:RSI)
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Rogers Sugar Inc. is involved in the refining, packaging, marketing, and distribution of sugar, maple, and related products across Canada, the United States, Europe, and internationally with a market cap of CA$813.96 million.
Operations: Rogers Sugar Inc.'s revenue is primarily derived from its Sugar segment, which generated CA$1.04 billion, complemented by its Maple Products segment contributing CA$259.71 million.
Dividend Yield: 5.7%
Rogers Sugar offers a dividend yield of 5.69%, which is lower than the top Canadian payers but remains attractive due to its stable payouts over the past decade. The company's payout ratio of 66.5% indicates dividends are well-covered by earnings and cash flows, with a cash payout ratio at 44%. However, dividend growth has been stagnant, and high debt levels could pose future challenges despite recent earnings growth of 47.2%.
- Delve into the full analysis dividend report here for a deeper understanding of Rogers Sugar.
- The valuation report we've compiled suggests that Rogers Sugar's current price could be inflated.
Turning Ideas Into Actions
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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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