Best Canadian Dividend Stocks
Top dividend-paying stocks on the Toronto Stock Exchange (TSX). Canadian banks, pipelines, REITs, and energy companies renowned for strong yields.
38 stocks found
TELUS Corporation
BCE Inc.
Enbridge Inc.
Emera Incorporated
Brookfield Asset Management Inc.
Canadian Natural Resources Limited
Bank of Nova Scotia
TC Energy Corporation
Sun Life Financial Inc.
Restaurant Brands International Inc.
Manulife Financial Corporation
Nutrien Ltd.
Fortis Inc.
Great-West Lifeco Inc.
Power Corporation of Canada
Bank of Montreal
Suncor Energy Inc.
The Toronto-Dominion Bank
Canadian Imperial Bank of Commerce
National Bank of Canada
Royal Bank of Canada
Canadian National Railway Company
Cenovus Energy Inc.
Intact Financial Corporation
Imperial Oil Limited
TMX Group Limited
BARRICK MINING CORP Common Stock (ABR0)
Metro Inc.
George Weston Limited
Agnico Eagle Mines Limited
Alimentation Couche-Tard Inc.
Fairfax Financial Holdings Limited
Loblaw Companies Ltd.
Canadian Pacific Kansas City Limited
Wheaton Precious Metals Corp.
Kinross Gold Corporation
Brookfield Corporation
Cameco Corporation
Frequently Asked Questions
Which Canadian stocks pay the best dividends?
Canada's top dividend payers span banking (Royal Bank RY, TD Bank TD, Bank of Nova Scotia BNS yielding 3-5%), energy and pipelines (Enbridge ENB yielding 6-7%, TC Energy TRP), and REITs (Choice Properties CHP, SmartCentres SRU). Canadian chartered banks have paid uninterrupted dividends for over 150 years.
What is the average dividend yield on the TSX?
The S&P/TSX Composite Index typically yields 2.5–3.5% — significantly higher than the S&P 500's 1.3–1.7%. Canadian banks average 3-5% yield, pipeline companies 5-7%, and Canadian REITs 4-7%. Canada's resource-heavy economy and dividend tax credit system have cultivated a strong dividend culture.
How are Canadian dividends taxed for US investors?
US investors holding Canadian stocks pay a 15% withholding tax on dividends (reduced from 25% via the Canada-US tax treaty). This withholding is generally recoverable as a foreign tax credit on the US tax return. Canadian dividends received in a US IRA or 401k cannot claim the foreign tax credit.
Is Enbridge (ENB) a good dividend stock?
Enbridge is one of Canada's most popular income stocks with a dividend yield of 6-7% and 28+ consecutive years of dividend growth. It operates North America's largest pipeline network, generating predictable regulated cash flows under long-term contracts. Considered a core holding for Canadian income investors.
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