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Best 50 Canadian Dividend Stocks


First things first, if you are interested in dividend investing, I strongly suggest you to download your free copy of Dividend Investing: How To Build a Never Ending Cash Distributor [1] from The Dividend Guy Blog [2].

[3]A few weeks ago, I got a comments on our top 10 and top 20 Canadian dividend stocks articles. Cecil was asking to get the top 50 Canadian Dividend Stocks (it seems that you can never get enough of dividend stock picks 😉 ).

While I didn’t want to discuss about 50 dividend stocks, I was wondering how to pull an interesting list without containing too much junk stocks into it. This is how I came with a few parameters:

-All Canadian stocks (TSX & Venture)
-Common stock only (no prefs, etf’s, etc, etc)
-“Active stocks” (need some trading volume)
-No stocks under 1$
-Market cap 10M

.
.

So here is the list of the top 50 Canadian Dividend Stocks according to those parameters (please note that data is as of May 2012):

If you want to look at their trading trend, you can try Trend Analysis [4], a free stock trend anaylis tool provided by INO.

 

TickerNamePriceDividend YieldPayout RatioPE_RATIO
DGIData Group Inc/Canada5.212.51283.8221.67
ERFEnerplus Corp18.8311.47355.0522.69
NFINew Flyer Industries Inc7.5611.39136.35N/A
JEJust Energy Group Inc13.099.4729.4577
GCLColabor Group Inc7.729.33361.4522.06
PGFPengrowth Energy Corp9.119.22330.0924.62
AIFAltus Group Ltd/Canada6.589.12N/AN/A
ZARZargon Oil & Gas Ltd13.189.1430.06N/A
WBWhistler Blackcomb Holdings Inc10.868.98420.8757.16
FRUFreehold Royalties Ltd19.178.76182.7219.36
DRMedical Facilities Corp12.98.53N/AN/A
STBStudent Transportation Inc6.668.352031.88N/A
ATPAtlantic Power Corp14.18.16N/AN/A
SPBSuperior Plus Corp7.388.13N/AN/A
PSNPoseidon Concepts Corp13.318.1161.38N/A
AGF/BAGF Management Ltd13.637.9288.5911.45
MKPMCAN Mortgage Corp13.857.76103.688.24
BNPBonavista Energy Corp18.577.75145.8120.63
FNFirst National Financial Corp16.127.75N/A14.39
NAENAL Energy Corp7.797.7N/A33.87
IBGIBI Group Inc14.737.49156.9512.66
PHXPHX Energy Services Corp9.727.41190.2619.84
GHGamehost Inc12.057.3125.3217.26
PKIParkland Fuel Corp14.017.28137.842.45
BABell Aliant Inc26.247.24132.3517.38
CFXCanfor Pulp Products Inc12.317.1558.6712.19
FCFirm Capital Mortgage Investment Corp13.227.0810014.15
ECIEnerCare Inc9.517.07903.8433.96
CLCCML HealthCare Inc10.717.05101.2312.03
LWLeisureworld Senior Care Corp12.097.03N/AN/A
TATransAlta Corp16.58766.913.93
LNVLongview Oil Corp96.6791.0720
PBNPetroBakken Energy Ltd14.466.6485.8814.18
PBHPremium Brands Holdings Corp17.796.61177.0822.52
VNRValener Inc15.176.59122.2819.45
CUSCanexus Corp8.36.594649.1731.92
VSNVeresen Inc15.266.55302.6449.23
MSIMorneau Shepell Inc11.96.55150.1523.33
GMPGMP Capital Inc6.196.46130.5715.87
DHDavis & Henderson Corp19.286.4369.5911.98
WJXWajax Corp50.826.3855.7813.44
CPGCrescent Point Energy Corp43.356.37383.5181.79
EIFExchange Income Corp25.56.35130.6319.77
PWTPenn West Petroleum Ltd17.086.3279.3112.47
BNEBonterra Energy Corp50.66.17134.8523
RSIRogers Sugar Inc5.556.1373.9818.5
NPINorthland Power Inc17.656.12N/AN/A
COSCanadian Oil Sands Ltd23.056.0746.599.64
LIQLiquor Stores N.A. Ltd17.976.0199.8419.32
SLFSun Life Financial Inc24.065.99N/A267.33

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20 Comments (Open | Close)

20 Comments To "Best 50 Canadian Dividend Stocks"

#1 Comment By Jerry Hung On July 27, 2010 @ 1:09 pm

No more Yellow Page YLO? 🙂
I don’t know many of the Top 10 companies…@@

Oh well, people should find some Screener tools in their broker web page, like TD Waterhouse has one

I don’t know if Google Screen works well on Canadian stocks, but for US it’s great

#2 Comment By youngandthrifty On July 27, 2010 @ 3:00 pm

Great list!

I have EIF, BCE, TA, and also YLO (as Jerry Hung mentions above).

I heart dividends!

#3 Comment By Brian On July 27, 2010 @ 3:16 pm

Question about the SLF price…I have watched this stock in the past and I thought ~$11 looked low, it’s currently trading at ~$28 on the TSX. Dividend yield looks right though.

#4 Comment By BMSP On July 27, 2010 @ 3:58 pm

Interesting list but I find it very difficult to trust stocks that trade at 1 or 2$…. especially when it comes to long term dividend growth

And yes, SLF looks off in terms of price, but the other stuff looks good

#5 Comment By IntelligentSpeculator On July 27, 2010 @ 4:00 pm

Actually, the #1 looks attractive and is paying less than its earnings, so I’ll have to look more into it. TFB, did you do some research about it?

#6 Comment By The Passive Income Earner On July 27, 2010 @ 10:40 pm

Some of the prices aren’t right … CPG trades at 37$ and Telus is near 39$. TransAlta is at 20$. Sorry, I own them so it jumped at me when I saw the price.

I have been watching the TMX Group. It’s basically the Toronto Stock Exchange 🙂 It must be getting a fee on all transactions.

#7 Comment By The Financial Blogger On July 28, 2010 @ 6:39 am

@ Jerry, I actually took only stocks, no income trust.

I know that most of this information can be found through stock screener but you know how easy it is when you just have to look at the chart? hehehe!

I might take stocks only over $5 next time in order to avoid smaller companies.

@ IS,

I should definitely take a closer look and post the result of my analysis in my next newsletter. thx for the idea!

@ Passive Income Earner,

yeah, I noticed that too… this is weird, I ‘ll see what happened when I imported the data to the blog…

#8 Comment By Financial Cents On July 29, 2010 @ 7:54 pm

Hey PB – who’s on your watch list, from this list?

PBH might be a nice pick-up for the TFSA in 2011?

#9 Comment By Financial Cents On July 29, 2010 @ 7:54 pm

“PB” – sorry, fast fingers….”FB” 🙂

#10 Comment By Arnold On July 30, 2010 @ 4:13 pm

What is the payout ratio based on? I know for PBH it’s 71% based on distributable cashflow for a rolling 12 month period.

#11 Comment By The Financial Blogger On July 31, 2010 @ 8:54 am

@ Financial Cents,

I will actually get more into the study of those stocks since we have purchased The Dividend Guy Blog. I’ll definitely talk about them shortly 😉

#12 Comment By The Financial Blogger On July 31, 2010 @ 8:54 am

@ Arnold,

Payout ratio = Dividend per share / earnings per share

In the past year, the company made 1.06$ of earnings and paid out 1.18$…so that does come out to a payout ratio over 1

#13 Pingback By Festival of Stocks – August 9, 2010 Edition | Fat Pitch Financials On August 9, 2010 @ 1:42 pm

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#14 Pingback By Best Personal Financial Planning Articles | Personal Investment Management and Financial Planning Blog Directory On August 13, 2010 @ 10:15 pm

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#15 Pingback By Best Financial Planning Articles this Week | Personal Investment Management and Financial Planning Blog Directory On September 2, 2010 @ 7:35 pm

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#16 Pingback By Best Financial Investment Articles | Personal Investment Management and Financial Planning Blog Directory On September 17, 2010 @ 3:14 pm

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#17 Pingback By Personal Financial Planning and Personal Investment Management | Personal Investment Management and Financial Planning Blog Directory On October 1, 2010 @ 3:01 pm

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#18 Comment By High Dividend Stocks On February 21, 2011 @ 1:48 pm

Here’s a good article on how to invest in Canadian dividend stocks including bank stocks [8]

The first week of December 2010 is an earnings week for Canada’s top 6 largest banks and it kicked off to a very good start with National Bank of Canada (Public, TSE:NA) announcing it is increasing its dividend yield on common shares from $0.62 to $0.66 per share, a whopping 6.45%. This increase goes in to effect after the first quarter January 31, 2011 payable on February 1, 2011 to shareholders of common shares on December 23, 2010. The company earned a net profit of $287-million in 4th quarter 2010 or $1.66 per share. This profit & dividend increase (the first time in 3 years for National Bank of Canada) signals the Canadian banking sector is very healthy & strong, as opposed to its US counterparts who are still facing difficulty re-organizing their mortgage backed loans & other credit products.

#19 Comment By Wonder On April 20, 2011 @ 10:55 pm

FYI for people checking this out, this article is from 2010 and is not accurate to date what so ever.

#20 Comment By The Financial Blogger On April 21, 2011 @ 3:46 am

@Wonder,
I’ve actually updated the list in February 2011 but I forgot to edit the text to show the latest update. thx for the reminder, it is now fixed.