21 Highest Dividend Paying Canadian Stocks List

ByEditorial Staff Updated on

 

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.

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.

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.

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.

BCE Inc. (BCE) – 5% yield

BCE Inc., a communications company, provides broadband communication services to residential and business customers in Canada.

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.

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.

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.

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.

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.

 

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)

Sources

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Tarik Pierce is the founder of InvestorTrip.com and regularly contributes articles to this website. He studied Economics at Dartmouth College and invests in a mix of dividend stocks, high CAGR tech stocks & cryptocurrencies.

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