Best Canadian Dividend Stocks for High Returns in 2024
Canadian Dividend Stocks offer a unique opportunity for investors seeking stable income from a diverse and resilient economy. Canada is known for its strong financial sector, abundant natural resources, and well-regulated markets, making it a secure and attractive place to invest. Many Canadian companies have a long history of providing consistent and growing dividends, particularly in sectors like banking, energy, and telecommunications. We’ll explore some of the top Canadian dividend stocks, offering insights into why Canada’s stable economy and shareholder-friendly companies make it an ideal destination for dividend-focused investors.
| Stock | Dividend Yield | Pay-out Ratio | P/E Ratio | P/B Ratio | ROE | 5y Dividend Growth | 10y Dividend Growth |
|---|---|---|---|---|---|---|---|
| Royal Bank of Canada | 2.39% | 35.59% | 15.04% | 1.95% | 0.13% | 5.02% | 4.60% |
| Toronto-Dominion Bank | 6.67% | 87.84% | 12.34% | 0.89% | 0.07% | 5.70% | -1.31% |
| Bank of Nova Scotia | 5.68% | 75.29% | 13.80% | 1.26% | 0.09% | 4.12% | 5.49% |
| Bank of Montreal | 4.30% | 50.02% | 14.81% | 1.18% | 0.08% | 5.04% | 3.83% |
| Canadian Imperial Bank of Commerce | 2.98% | 39.37% | 13.12% | 1.53% | 0.12% | -8.58% | -5.66% |
| Enbridge | 6.77% | 119.35% | 12.51% | 1.40% | 0.11% | 4.74% | 7.60% |
| TC Energy | 5.67% | 77.50% | 14.30% | 2.44% | 0.17% | 5.91% | 4.22% |
| Fortis | 2.82% | 48.41% | 18.64% | 1.38% | 0.07% | 4.81% | 3.15% |
| BCE | 9.58% | 1394.44% | 128.78% | 1.97% | 0.01% | 10.41% | 5.06% |
| TELUS | 7.83% | 163.92% | 35.63% | 2.09% | 0.06% | -7.77% | 0.29% |
| PPL | 3.72% | 89.20% | 30.57% | 1.79% | 0.06% | -10.16% | -4.17% |
| Manulife Financial | 2.76% | 54.64% | 16.68% | 1.90% | 0.12% | 8.76% | 7.52% |
| Sun Life Financial | 4.09% | 51.18% | 12.87% | 1.97% | 0.16% | 8.65% | 7.46% |
| Canadian Natural Resources | 4.86% | 56.60% | 13.12% | 2.50% | 0.19% | 28.64% | 16.86% |
| Suncor Energy | 3.91% | 34.85% | 9.15% | 1.63% | 0.18% | 13.42% | 7.85% |
| Imperial Oil | 2.23% | 22.29% | 10.36% | 2.38% | 0.23% | 28.01% | 11.30% |