Dividend stock investing in Canadian companies is a very popular strategy because these companies make up the bulk of the stock market gains in the long run and provide safe income opportunities to investors. You can learn how to invest in Canadian dividend stocks if you’re a complete beginner.
Below, you’ll see a good list of the highest dividend paying stocks Canada has to offer investors. Both blue chip and growth stock companies are listed in many industries such as oil and gas, gold mining, finance and retail.
Canada’s Best Dividend Paying Stocks to Buy
Crescent Point Energy Corp (CPG) – 6.2% yield
Crescent Point Energy Corp. is engaged in the acquisition, exploration, development, and production of oil and natural gas properties in Western Canada and the United States.
- Crescent Point: Shedding Light On The Dividend
- 3 High Yield Stocks to Buy Now
- The Truth Behind Crescent Point Energy’s Monster Dividend Yield
Canadian Oil Sands Ltd. (COSWF) – 5.87% yield
Canadian Oil Sands Limited, through its interests in the Syncrude Joint Venture, mines, extracts, and upgrades bitumen from oil sands in northern Alberta.
- Canadian Oil Sands: Getting The Facts Straight
- 5 Important Reasons To Avoid Canadian Oil Sands Now, Perhaps Forever
- 10 Reasons To Go Long Canadian Oil Sands Now
- Why Canadian Oil Sands (COSWF) Could Be Positioned for a Surge?
TransAlta Corporation (TAC) – 5.4% yield
TransAlta Corporation operates as a non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia.
- TransAlta: 4 Different Insiders Have Purchased Shares During The Last 30 Days
- Is Now The Time To Buy Transalta?
Penn West Petroleum Ltd. (PWE) – 5.4% yield
Penn West Petroleum Ltd., an exploration and production company, acquires, explores, develops, exploits, and holds interests in petroleum and natural gas properties and related assets in western Canada.
- Penn West Continues To Execute Against Its Turnaround Plan
- Penn West: When Will The Pain Stop?
- Why Penn West Petroleum is Down Today
BCE Inc. (BCE) – 5% yield
BCE Inc., a communications company, provides broadband communication services to residential and business customers in Canada.
- BCE Inc.: Patience Is Key For The Time Being, Waiting To Buy
- 3 Dividend Champions for Every Portfolio
Enerplus Corporation (ERF) – 4.5% yield
Enerplus Corporation, together with subsidiaries, is engaged in the exploration and development of crude oil and natural gas in the United States and Canada.
- Should You Still Buy Enerplus Corporation?
- Enerplus: A Good Dividend Pick?
- Is Enerplus dividend at risk?
Potash Corporation of Saskatchewan Inc. (POT) – 4% yield
Potash Corporation of Saskatchewan Inc., together with its subsidiaries, produces and sells fertilizers and related industrial and feed products worldwide.
- Potash Corporation: Why You Should Buy This Stock
- Is Potash A Good Dividend Pick?
- The Tortoise Series: Part 19 – Potash Corp. Fertilizer Or Just A Load Of Manure?
- Dividend Discount Model Indicates A Buy For Potash Corporation
Thomson Reuters Corporation (TRI) – 3.8% yield
Thomson Reuters Corporation provides intelligent information for businesses and professionals worldwide. The company sells electronic content and services to professionals, primarily on a subscription basis.
- Thomson Reuters Offers Unprecedented Low Valuation Coupled With 4.5% Yield
- Why Thomson Reuters Is Fairly Valued
Agnico Eagle Mines Limited (AEM) – 1.1% yield
Agnico Eagle Mines Limited is engaged in the exploration, development, and production of mineral properties in Canada, Finland, and Mexico. It primarily explores for gold, as well as for silver, copper, zinc, and lead.
- Agnico Eagle Expects To Grow Its Output By 13% By 2016
- Agnico-Eagle Has Upside Potential
- Why Agnico Eagle Mines (AEM) Stock Might be a Great Pick
- Statistically Speaking, This Is the Best Gold Miner
Agrium Inc. (AGU) – 3.2% yield
Agrium Inc. produces, retails, and distributes the crop nutrients, crop protection products, seeds, and agronomics primarily in North America, South America, Europe, and Australia.
- A Best-Of-Breed Stock That Is Cheapest In Its Sector
- Here’s Why We Prefer Agrium Over Potash Corp. And Mosaic
- A Best-Of-Breed Stock That Is Cheapest In Its Sector
- 3 Stocks Dragging In The Chemicals Industry
Other Dividend Paying Canadian Stock Recommendations
Shaw Communications Inc. (SJR) – 4.1% yield
Shaw Communications Inc., together with its subsidiaries, provides broadband cable television, Internet, home phone, telecommunication, satellite direct-to-home, and programming content services to residential and business customers in Canada and the United States. It primarily operates conventional television networks, including Global Television; and 19 specialty networks, such as HGTV Canada, Food Network Canada, HISTORY, and Showcase.
Rogers Communications Inc. (RCI) – 4.1% yield
Rogers Communications Inc. operates as a communications and media company in Canada. Its Wireless segment provides wireless voice and high-speed data communication services to consumers and businesses under the Rogers, Fido, and Chatr brands; and wireless devices and applications.
Canadian Imperial Bank of Commerce (CM) – 4% yield
Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individuals, small businesses, and commercial, corporate, and institutional clients in Canada and internationally.
Imperial Oil (IO) – 1% yield
ION Geophysical Corporation provides geophysical technology, services, and solutions to the oil and gas industry worldwide.
Magna International (MGA) – 1.6% yield
Magna International Inc. develops, manufactures, engineers, supplies, and sells automotive products. It operates through North America, Europe, Asia, and Rest of World segments.
Suncor Energy Inc. (SU) – 2.3% yield
Suncor Energy Inc., together with its subsidiaries, operates as an integrated energy company.
Tim Hortons Inc. (THI) – 2% yield
Tim Hortons Inc. develops and franchises quick service restaurants primarily in Canada and the United States.
Bank of Montreal (BMO) – 4% yield
Bank of Montreal, together with its subsidiaries, provides various retail banking, wealth management, and investment banking products and services in North America and internationally.
Royal Bank of Canada (RY) – 3.9% yield
Royal Bank of Canada, a diversified financial service company, provides personal and commercial banking, wealth management, insurance, investor, and capital markets products and services worldwide.
The Bank of Nova Scotia (BNS) – 3.9% yield
The Bank of Nova Scotia provides various personal, commercial, corporate, and investment banking services in Canada and internationally.
Toronto Dominion Bank (TD) – 3.6% yield
The Toronto-Dominion Bank, together with its subsidiaries, provides financial and banking services in North America and internationally.
Husky Energy (HSE.T) – 3.3% yield
Husky Energy Inc., together with its subsidiaries, operates as an integrated energy company primarily in Canada and the United States. The company operates in two segments, Upstream and Downstream. (Hattip to ThePassiveIncomeEarner)
While his background is mostly related to trading stocks, he recently gained interest in real estate crowdfunding with Fundrise.