Finder makes money from featured partners, but editorial opinions are our own.

Best dividend stocks in Canada

These are the 10 best Canadian dividend stocks.

Promoted

Invest with CIBC Investor's Edge

CIBC Investor's Edge logo
  • Free trades for Young Investors
  • Low trading fees
  • Easy to use app
Go to site
Finder Rating: ★★★★★ 3.7 / 5

Finder’s list of the best dividend stocks in Canada was updated based on the results of our proprietary ranking system. These 10 best Canadian dividend stocks are starting points for your own research and should not be taken as advice to buy any particular stock.

The best dividend stocks in Canada

Over the past 12 months, the energy and healthcare sectors have risen solidly in Canada, while the communications and technology sectors have dropped. Overall the S&P/TSX Composite High Dividend Index has yielded negative total returns of -4.34% over the past year and positive total returns of 2.65% over the past 5 years.

Here’s a quick view of the best Canadian dividend stocks. Get more details below.

52 week changeIndustry
ARC Resources (ARX)+51.84%Oil & Gas E&PBuy on Interactive Brokers
CES Energy Solutions (CEU)+111.36%Oil & Gas Equipment & ServicesBuy on Interactive Brokers
Computer Modelling Group (CMG)+47.79%Software—ApplicationBuy on Interactive Brokers
Fairfax Financial Holdings (FFH)+60.67%Insurance—Property & CasualtyBuy on Interactive Brokers
Stantec (STN)+38.30%Engineering & ConstructionBuy on Interactive Brokers

52-week performance was updated on April 16, 2024

Our top picks for where to buy the best Canadian dividend stocks

Best for Lowest Commissions

Go to site
Low margin rates
  • Access to international stock exchanges
  • Low margin rates
  • Powerful research tools

Best for Low Fees

Go to site
CA & US trading
  • $1,200 cash reward or $1,200 Apple gift card
  • Low transaction fees
  • Easy-to-use app

Best for Beginners

Go to site
Easy to use app
  • Easy-to-use platform
  • Low fees
  • Student and young investor discounts

More info on the best dividend stocks in Canada

ARC Resources Ltd. (ARX.TO)

ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada.
  • Market cap: C$14.841 billion
  • YTD performance: 291.77%
  • 1 Year performance: 31.39%
  • 5 Year performance: 797.36%
  • P/E Ratio: 12.4774
  • Headquarters: Canada

Buy on Interactive Brokers

CES Energy Solutions Corp (CEU.TO)

CES Energy Solutions Corp., together with its subsidiaries, engages in design, implement, and manufacture of advanced consumable fluids and specialty chemicals in the United States and Canada. The company provides solutions for drill-bit, point of completion and stimulation, wellhead and pump-jack, and pipeline and midstream markets.
  • Market cap: C$1.102 billion
  • YTD performance: 506.21%
  • 1 Year performance: 196.22%
  • 5 Year performance: 1181.97%
  • P/E Ratio: 8.4464
  • Headquarters: Canada

Buy on Interactive Brokers

Computer Modelling Group Ltd. (CMG.TO)

Computer Modelling Group Ltd., a software and consulting technology company, engages in the development and licensing of reservoir simulation and seismic interpretation software and related services. The company offers CMOST-AI, an optimization and analysis tool that offers solution for reservoir by combining advanced statistical analysis, machine learning, and impartial data interpretation; IMEX, a black oil simulator that is used to model primary, secondary, and tertiary oil recovery processes in conventional and unconventional reservoirs; and GEM, an equation-of-state reservoir simulator for compositional, chemical, and unconventional reservoir modelling.
  • Market cap: C$1.11 billion
  • YTD performance: 200.43%
  • 1 Year performance: 107.01%
  • 5 Year performance: 311.02%
  • P/E Ratio: 42.5938
  • Headquarters: Canada

Buy on Interactive Brokers

Fairfax Financial Holdings Ltd (FFH.TO)

Fairfax Financial Holdings Limited, through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in the United States, Canada, Asia, and internationally. The company operates through Property and Casualty Insurance and Reinsurance, Life insurance and Run-off, and Non-Insurance Companies segments.
  • Market cap: C$36.201 billion
  • YTD performance: 257.05%
  • 1 Year performance: 65.13%
  • 5 Year performance: 381.8%
  • P/E Ratio: 7.3477
  • Headquarters: Canada

Buy on Interactive Brokers

Stantec Inc (STN.TO)

Stantec Inc. provides professional services in the areas of infrastructure and facilities to the public and private sectors in Canada, the United States, and internationally.
  • Market cap: C$13.401 billion
  • YTD performance: 177.43%
  • 1 Year performance: 37.35%
  • 5 Year performance: 311.85%
  • P/E Ratio: 38.0194
  • Headquarters: Canada

Buy on Interactive Brokers

Constellation Software Inc. (CSU.TO)

Constellation Software Inc., together with its subsidiaries, acquires, builds, and manages vertical market software businesses in Canada, the United States, Europe, and internationally. It provides mission critical software solutions for public and private sector markets.
  • Market cap: C$84.326 billion
  • YTD performance: 144.13%
  • 1 Year performance: 55.61%
  • 5 Year performance: 5281.37%
  • P/E Ratio: 107.5174
  • Headquarters: Canada

Buy on Interactive Brokers

goeasy Ltd (GSY.TO)

goeasy Ltd. provides non-prime leasing and lending services under the easyhome, easyfinancial, and LendCare brands to consumers in Canada.
  • Market cap: C$3.029 billion
  • YTD performance: 86.68%
  • 1 Year performance: 75.11%
  • 5 Year performance: 666%
  • P/E Ratio: 12.164
  • Headquarters: Canada

Buy on Interactive Brokers

Enerplus Corporation (ERF.TO)

Enerplus Corporation, together with its subsidiaries, explores and develops crude oil and natural gas in the United States. Its oil and natural gas properties are located primarily in North Dakota, Colorado, and Pennsylvania.
  • Market cap: C$5.66 billion
  • YTD performance: 594%
  • 1 Year performance: 51.7%
  • 5 Year performance: 1416.94%
  • P/E Ratio: 10.9306
  • Headquarters: Canada

Buy on Interactive Brokers

Mainstreet Equity Corp. (MEQ.TO)

Mainstreet Equity Corp. engages in the acquisition, redevelopment, repositioning, and management of mid-market residential rental apartment buildings in Western Canada.
  • Market cap: C$1.558 billion
  • YTD performance: 113.11%
  • 1 Year performance: 27.52%
  • 5 Year performance: 289%
  • P/E Ratio: 8.858
  • Headquarters: Canada

Buy on Interactive Brokers

Terravest Capital Inc (TVK.TO)

TerraVest Industries Inc. manufactures and sells goods and services to energy, agriculture, mining, transportation, and other markets in Canada and the United States.
  • Market cap: C$1.393 billion
  • YTD performance: 361.88%
  • 1 Year performance: 154.92%
  • 5 Year performance: 677.08%
  • P/E Ratio: 21.697
  • Headquarters: Canada

Buy on Interactive Brokers

What you should know before buying the best dividend stocks in Canada

There’s no single winning strategy to finding what experts might call the best Canadian dividend stocks, because the most important considerations are your own goals and circumstances.

Our list of the best dividend stocks in Canada is not personal financial advice; we have not considered your personal objectives and financial situation. Do your own research, and speak with an investment professional if in doubt.

Whether you care more about short-term capital gains or long-term dividend growth, it’s important to know what risk you’re comfortable with and whether a stock is performing well, making a profit, paying dividends or losing value. Past performance does not guarantee future results. Investments can increase and decrease in value.

This list and data was compiled April 16, 2024. The algorithm was last updated January 27, 2021.

FAQs about the best Canadian dividend stocks

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades. Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the product on the provider's website.

More on investing

More guides on Finder

Go to site