TSX Dividend Stocks To Consider In June 2025

As the Canadian market navigates ongoing trade uncertainties and inflationary pressures, investors have shown resilience, with the TSX rising over 5% in May despite global economic challenges. In this environment, dividend stocks can offer a measure of stability and income potential, making them an attractive consideration for those looking to maintain a diversified portfolio amid fluctuating economic conditions.

Top 10 Dividend Stocks In Canada

Click here to see the full list of 28 stocks from our Top TSX Dividend Stocks screener.

Here we highlight a subset of our preferred stocks from the screener.

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$8.50 billion.

Operations: Capital Power Corporation generates revenue from its diverse portfolio of renewable and thermal power generation facilities located in both Canada and the United States.

Dividend Yield: 4.6%

Capital Power's dividends have been stable and growing over the past decade, supported by a reasonable payout ratio of 55.6%. However, the dividend yield of 4.62% is lower than the top Canadian dividend payers and is not well covered by free cash flows. The company faces high debt levels, compounded by recent financing activities to fund acquisitions like Hummel Station and Rolling Hills plants. Earnings are expected to decline over the next three years, impacting future dividend sustainability.

• Delve into the full analysis dividend report here for a deeper understanding of Capital Power.
• Our comprehensive valuation report raises the possibility that Capital Power is priced lower than what may be justified by its financials.

Russel Metals (TSX:RUS)

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

Overview: Russel Metals Inc. is a company that distributes steel and other metal products across Canada and the United States, with a market capitalization of CA$2.37 billion.

Operations: Russel Metals Inc.'s revenue is primarily derived from its Metals Service Centers at CA$2.98 billion, followed by Energy Field Stores at CA$981 million and Steel Distributors at CA$388.20 million.

Dividend Yield: 4%

Russel Metals has maintained stable and growing dividends over the past decade, with a recent 2.4% increase to $0.43 per share, marking the third consecutive annual rise. Despite a lower net profit margin this year, dividends remain well-covered by earnings and cash flows with payout ratios of 63.2% and 42.2%, respectively. The dividend yield of 4.04% is below top-tier Canadian payers but remains reliable due to consistent financial management, including strategic buybacks and debt refinancing efforts.

• Click here and access our complete dividend analysis report to understand the dynamics of Russel Metals.
• The analysis detailed in our Russel Metals valuation report hints at an deflated share price compared to its estimated value.

Thor Explorations (TSXV:THX)

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

Overview: Thor Explorations Ltd., along with its subsidiaries, operates as a gold producer and explorer with a market cap of CA$459.25 million.

Operations: Thor Explorations Ltd.'s revenue primarily comes from its Segilola Mine Project, which generated $223.88 million.

Dividend Yield: 6.9%

Thor Explorations recently initiated a dividend policy with quarterly payments of C$0.0125 per share, supported by a low payout ratio of 5.1% and cash payout ratio of 37.4%, ensuring dividends are well-covered by earnings and cash flow. Despite strong past earnings growth, future declines are expected. While trading at significant value below estimated fair value, the sustainability and stability of its dividends remain uncertain due to their recent introduction in the Canadian market.

• Get an in-depth perspective on Thor Explorations' performance by reading our dividend report here.
• In light of our recent valuation report, it seems possible that Thor Explorations is trading behind its estimated value.

Next Steps

• Access the full spectrum of 28 Top TSX Dividend Stocks by clicking on this link.
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Seeking Other Investments?

• 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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