Top 100 dividend stocks in Canada 2024

Scoring the perfect dividend shares in Canada

The yield rating (40% weighting) seems on the present dividend yield and the expansion of the dividend over the previous 5 years.
The soundness rating (40% weighting) reveals the debt-to-equity ratio, return on fairness, five-year earnings development, and ratio of earnings per share to dividends.
The valuation rating (20% weighting) displays the inventory’s earnings yield (the inverse of price-to-earnings) and price-to-book worth.

Ranking the highest 100 dividend shares in Canada

Many dividend-seeking traders gravitate in the direction of financial institution shares—however these have taken a backseat on this yr’s prime 100. Whereas scoring fairly properly on dividends and valuation, the financial institution shares suffered from substandard stability scores relative to most Toronto Inventory Change–listed dividend payers in 2023, notes Aman Raina, investing coach and founding father of Sage Traders, who extracted the info. “The insurance coverage firms, against this, present extra stability in scoring. So, if you’re in search of monetary publicity, this subsector seems to have some respectable upside.”

One other shock on this yr’s finest dividend inventory record was how properly commodity-producing firms scored on all three standards. “With potential for inflation and rates of interest to fall, resulting in probably decrease actual charges, this might give the [materials and energy] house some legs for a run in 2024,” Raina says.

Relying by yourself funding course of, deal with the record under as a supply of concepts, to be augmented by extra thorough due diligence, particularly all through 2024. Our screening doesn’t account for qualitative components such because the experience of firm administration, client and/or technological tendencies, or dangers related to the international locations through which the businesses function, for instance.

To view all the info within the desk, slide the columns proper or left utilizing your fingers or mouse. You may filter or rearrange the rankings by utilizing the search instrument or clicking on column headings. You may as well obtain the info to your system in Excel, CSV and PDF codecs.