Amid ongoing trade uncertainty and newly announced tariffs, the Canadian market faces heightened volatility, with concerns about inflation and economic stagnation at the forefront. In this environment, dividend stocks can offer a measure of stability and income for investors seeking balance, making them an attractive option to consider.
Top 10 Dividend Stocks In Canada
| Name | Dividend Yield | Dividend Rating |
| Whitecap Resources (TSX:WCP) | 8.47% | ★★★★★★ |
| Canadian Imperial Bank of Commerce (TSX:CM) | 4.67% | ★★★★★☆ |
| Russel Metals (TSX:RUS) | 4.35% | ★★★★★☆ |
| Savaria (TSX:SIS) | 3.33% | ★★★★★☆ |
| Olympia Financial Group (TSX:OLY) | 6.94% | ★★★★★☆ |
| Royal Bank of Canada (TSX:RY) | 3.65% | ★★★★★☆ |
| Power Corporation of Canada (TSX:POW) | 4.35% | ★★★★★☆ |
| IGM Financial (TSX:IGM) | 5.20% | ★★★★★☆ |
| Richards Packaging Income Fund (TSX:RPI.UN) | 6.25% | ★★★★★☆ |
| Acadian Timber (TSX:ADN) | 6.72% | ★★★★★☆ |
Click here to see the full list of 25 stocks from our Top TSX Dividend Stocks screener.
Let's explore several standout options from the results in the screener.
Acadian Timber (TSX:ADN)
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Acadian Timber Corp., with a market cap of CA$307.97 million, operates in Eastern Canada and the Northeastern United States, providing forest products through its subsidiaries.
Operations: Acadian Timber's revenue is primarily derived from its New Brunswick Timberlands at CA$74.31 million, followed by Environmental Solutions at CA$24.59 million and Maine Timberlands at CA$17.28 million.
Dividend Yield: 6.7%
Acadian Timber offers a dividend yield of 6.72%, positioning it in the top 25% of Canadian dividend payers, but its high payout ratio (93.7%) raises sustainability concerns as dividends are not well covered by earnings. Despite stable and reliable dividends over the past decade, recent financials show declining profit margins and net income, with sales increasing to C$116.19 million for 2024. A quarterly dividend of C$0.29 per share was affirmed for April 2025 payment.
- Click here and access our complete dividend analysis report to understand the dynamics of Acadian Timber.
- In light of our recent valuation report, it seems possible that Acadian Timber is trading beyond its estimated value.
Capital Power (TSX:CPX)
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Capital Power Corporation develops, acquires, owns, and operates renewable and thermal power generation facilities in Canada and the United States, with a market cap of CA$6.89 billion.
Operations: Capital Power's revenue primarily comes from the operation of electrical generation facilities, amounting to CA$3.68 billion.
Dividend Yield: 5.6%
Capital Power's dividend payments have been stable and reliable over the past decade, but concerns arise from its high cash payout ratio of 490.8%, indicating dividends are not well covered by cash flows. Despite trading at a significant discount to its estimated fair value, the company's earnings are forecast to decline significantly. Recent earnings showed a decrease in annual sales to C$3.68 billion, with net income dropping slightly year-over-year. A quarterly dividend of C$0.6519 per share was affirmed for April 2025 payment.
- Dive into the specifics of Capital Power here with our thorough dividend report.
- According our valuation report, there's an indication that Capital Power's share price might be on the cheaper side.
Olympia Financial Group (TSX:OLY)
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Olympia Financial Group Inc., with a market cap of CA$254.61 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 various segments, including Investment Account Services (CA$79.18 million), Health (CA$10.30 million), Currency and Global Payments (CA$7.20 million), Corporate and Shareholder Services (CA$4.68 million), Corporate (CA$0.08 million), and Exempt Edge (CA$1.48 million).
Dividend Yield: 6.9%
Olympia Financial Group's dividend yield is in the top 25% of Canadian payers, with a monthly dividend of C$0.60 per share recently affirmed for April. Despite a reasonable payout ratio (72.4%), dividends have been volatile over the past decade, raising concerns about reliability. The cash payout ratio stands at 84.2%, indicating coverage by cash flows but highlighting potential sustainability issues amidst declining earnings forecasts and recent insider selling activity.
- Click to explore a detailed breakdown of our findings in Olympia Financial Group's dividend report.
- Our expertly prepared valuation report Olympia Financial Group implies its share price may be lower than expected.
Make It Happen
- Dive into all 25 of the Top TSX Dividend Stocks we have identified here.
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Contemplating Other Strategies?
- 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 Olympia Financial Group 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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