The highest yielding stocks on the TSX, plus risk data

Scott BarlowMarket Strategist

Published January 18, 2021

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The table below ranks all S&P/TSX companies by indicated dividend yield as reported by Bloomberg.

Yield-paying index stocks where no credit rating is available from either rating agency are excluded from the table. It is intended as a starting point for further research.

We hope the data provided is helpful and credible, but recognize it is not sufficient grounds for actual market transactions on its own.

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Investors should verify the data provided and investigate all cases where ‘NAs’ appear in the table before making buy and sell decisions.

As for methodology, we are relying heavily on long-term credit ratings from Standard & Poor’s and Moody’s. Credit rating, payout ratio and trailing price to earnings ratios are included so that investors can begin to assess the sustainability of current dividend income and the potential for dividend growth over time.

Notes on data: The dividend yield quoted is based on annualizing the most recent payment. Payout ratio may be different than elsewhere quoted due to differences in time frame used or method of calculation for after tax income.

Data as of Monday 9:45 a.m. ET.

		Indicated Dividend Yield	5Y Dividend Growth	1Y Dividend Growth	1Y Total Return	S&P LT Credit Rating	Moody's LT Credit Rating	Payout Ratio	PE Ratio
BPY-UN-T	BROOKFIELD PROPERTY PARTNERS	8.09	5.36	0.73	-6.72	BBB	N-A	74.87	N-A
KEY-T	KEYERA CORP	7.62	6.29	3.78	-20.29	BBB-	N-A	89.46	12.86
ENB-T	ENBRIDGE INC	7.53	11.74	9.76	-8.89	BBB+	Baa2	111.80	19.09
PPL-T	PEMBINA PIPELINE CORP	7.22	6.96	6.78	-25.41	BBB	N-A	89.13	13.95
RUS-T	RUSSEL METALS INC	6.44	0.00	0.00	13.40	BB	Ba3	123.37	61.46
IGM-T	IGM FINANCIAL INC	6.37	0.00	0.00	-3.92	A	N-A	72.05	11.37
GEI-T	GIBSON ENERGY INC	6.29	1.22	3.03	-17.15	BBB-	Ba2	108.88	20.44
TRP-T	TC ENERGY CORP	6.09	9.27	8.00	-15.44	BBB+	Baa2	70.27	13.21
BCE-T	BCE INC	5.95	5.07	5.05	-4.65	BBB+	Baa2	93.93	17.60
CHP-UN-T	CHOICE PROPERTIES REIT	5.78	2.63	0.00	-8.77	BBB	N-A	N-A	9.16
POW-T	POWER CORP OF CANADA	5.72	7.90	12.09	1.63	A+	N-A	79.05	11.03
CPX-T	CAPITAL POWER CORP	5.66	7.08	7.01	8.92	BBB-	N-A	250.00	10.36
GWO-T	GREAT-WEST LIFECO INC	5.56	6.08	6.05	-1.84	A+	N-A	66.25	N-A
SPB-T	SUPERIOR PLUS CORP	5.53	0.00	0.00	8.33	BB-	N-A	88.29	37.17
CNQ-T	CANADIAN NATURAL RESOURCES	5.48	13.07	13.33	-17.05	BBB	Baa2	32.98	N-A
REI-UN-T	RIOCAN REAL ESTATE INVST TR	5.47	0.42	0.00	-30.21	BBB	N-A	57.29	N-A
CU-T	CANADIAN UTILITIES LTD-A	5.43	8.10	3.00	-15.58	A-	N-A	52.15	18.47
SJR-B-T	SHAW COMMUNICATIONS INC-B	5.26	0.12	0.00	-11.25	BBB-	Baa2	89.88	16.70
CRT-UN-T	CT REAL ESTATE INVESTMENT TR	5.19	3.63	4.51	-0.50	BBB	N-A	123.28	43.97
CM-T	CAN IMPERIAL BK OF COMMERCE	5.16	5.73	2.82	11.13	A+	N-A	70.67	12.03
BNS-T	BANK OF NOVA SCOTIA	5.12	5.46	1.69	2.98	A+	N-A	66.29	13.57
ALA-T	ALTAGAS LTD	4.99	-12.56	0.34	6.23	BBB-	N-A	34.93	N-A
MIC-T	GENWORTH MI CANADA INC	4.97	31.53	0.32	-17.96	BBB+	N-A	126.89	8.77
LB-T	LAURENTIAN BANK OF CANADA	4.96	-3.55	-29.17	-22.09	BBB	N-A	90.17	11.41
CJR-B-T	CORUS ENTERTAINMENT INC-B SH	4.80	-26.77	0.00	-4.94	BB	N-A	N-A	6.50
EMA-T	EMERA INC	4.78	8.28	4.21	-4.52	BBB	Baa3	85.22	21.31
OSB-T	NORBORD INC	4.72	10.44	-17.86	31.16	BB *+	Ba1 *+	N-A	14.47
ACO-X-T	ATCO LTD -CLASS I	4.69	11.95	7.51	-23.12	A-	N-A	36.19	17.25
T-T	TELUS CORP	4.65	7.12	5.21	8.52	BBB+	Baa1	77.78	21.66
MFC-T	MANULIFE FINANCIAL CORP	4.60	10.99	12.00	-7.37	A	N-A	36.19	9.16
AP-UN-T	ALLIED PROPERTIES REAL ESTAT	4.47	2.44	3.38	-27.36	N-A	Baa2	28.65	22.28
CIX-T	CI FINANCIAL CORP	4.34	-11.15	0.00	-25.33	BBB	N-A	31.71	6.88
BMO-T	BANK OF MONTREAL	4.22	5.53	4.43	2.22	A+	N-A	56.14	13.31
TD-T	TORONTO-DOMINION BANK	4.19	9.15	6.76	6.92	AA-	N-A	48.28	11.66
TCL-A-T	TRANSCONTINENTAL INC-CL A	4.10	5.77	2.27	47.07	BBB-	N-A	59.52	12.37
GRT-UN-T	GRANITE REAL ESTATE INVESTME	4.00	4.80	3.81	12.49	N-A	(P)Baa2	36.04	23.66
RY-T	ROYAL BANK OF CANADA	3.98	6.85	5.41	6.46	AA-	N-A	54.74	13.84
NA-T	NATIONAL BANK OF CANADA	3.88	6.43	4.41	4.31	A	N-A	49.55	11.92
FTS-T	FORTIS INC	3.87	6.79	6.02	-4.53	A-	Baa3	49.61	20.61
BIP-UN-T	BROOKFIELD INFRASTRUCTURE PA	3.70	7.85	-0.89	12.43	BBB+	N-A	1103.95	N-A
SLF-T	SUN LIFE FINANCIAL INC	3.68	7.82	4.76	-2.56	A+	Baa1 (hyb)	47.21	16.45
AQN-T	ALGONQUIN POWER & UTILITIES	3.67	10.76	12.30	16.31	BBB	N-A	53.18	25.73
SU-T	SUNCOR ENERGY INC	3.65	-0.80	-34.82	-44.54	BBB+	Baa1	90.35	N-A
IPL-T	INTER PIPELINE LTD	3.63	-11.91	-53.95	-36.25	BBB-	N-A	131.06	18.62
H-T	HYDRO ONE LTD	3.45	N-A	5.01	16.62	A-	N-A	73.26	8.99
IMO-T	IMPERIAL OIL LTD	3.35	10.26	3.53	-21.53	AA	N-A	29.36	N-A
NTR-T	NUTRIEN LTD	3.33	N-A	4.50	17.07	BBB	Baa2	103.31	37.12
QSR-T	RESTAURANT BRANDS INTERN	3.33	37.25	4.67	-0.69	BB	N-A	83.36	28.35
IAG-T	IA FINANCIAL CORP INC	3.32	10.83	9.92	-17.82	A	N-A	27.37	N-A
RCI-B-T	ROGERS COMMUNICATIONS INC-B	3.32	0.82	0.00	-3.44	BBB+	Baa1	50.02	17.85
ITP-T	INTERTAPE POLYMER GROUP INC	3.25	4.36	5.68	52.07	BB-	Ba3	82.47	15.85
FCR-UN-T	FIRST CAPITAL REAL ESTATE IN	3.03	0.00	0.00	-27.56	BBB-	Baa3	36.86	9.71
PKI-T	PARKLAND CORP	2.95	2.38	1.71	-11.79	BB	Ba2	42.75	26.64
BEI-UN-T	BOARDWALK REAL ESTATE INVEST	2.88	-19.93	0.00	-25.47	N/A	N/A	133.58	N/A
FTT-T	FINNING INTERNATIONAL INC	2.78	2.49	0.61	23.32	BBB+	N/A	55.38	27.71
CTC/A-T	CANADIAN TIRE CORP-CLASS A	2.65	16.72	9.64	26.29	BBB	N/A	33.74	17.91
FFH-T	FAIRFAX FINANCIAL HLDGS LTD	2.62	-2.15	0.00	-20.37	BBB-	Baa3	13.74	187.17
NPI-T	NORTHLAND POWER INC	2.55	2.13	0.00	69.88	BBB	N/A	70.02	23.05
BEP-UN-T	BROOKFIELD RENEWABLE PARTNER	2.55	4.06	-5.02	85.38	BBB+	N/A	N/A	N/A
CCA-T	COGECO COMMUNICATIONS INC	2.53	10.57	10.44	0.17	BB+	N/A	29.99	12.74
INE-T	INNERGEX RENEWABLE ENERGY	2.39	3.04	2.86	70.08	BB+	N/A	N/A	N/A
IFC-T	INTACT FINANCIAL CORP	2.29	9.39	9.21	2.66	N/A	Baa1	60.51	20.31
WN-T	WESTON (GEORGE) LTD	2.26	4.63	1.67	-5.72	BBB	N/A	162.12	17.75
CAS-T	CASCADES INC	2.24	14.87	33.33	28.01	BB-	Ba2	32.69	7.71
MG-T	MAGNA INTERNATIONAL INC	2.24	13.46	9.92	34.01	A-	A3	25.44	31.63
YRI-T	YAMANA GOLD INC	2.13	4.47	142.57	35.62	BB+	Baa3	10.51	30.84
EFN-T	ELEMENT FLEET MANAGEMENT COR	2.09	51.57	11.11	0.67	BBB	N/A	146.09	41.53
L-T	LOBLAW COMPANIES LTD	2.07	5.17	3.23	-4.21	BBB	N/A	42.38	20.56
TRI-T	THOMSON REUTERS CORP	2.00	1.54	5.73	1.14	BBB	Baa2	48.58	75.69
SAP-T	SAPUTO INC	1.93	5.42	2.99	-7.38	N/A	Baa1	46.28	23.31
OTEX-T	OPEN TEXT CORP	1.78	13.97	6.84	-2.51	BB+	Ba1	80.76	35.81
TA-T	TRANSALTA CORP	1.64	-25.08	6.25	19.79	BB+	Ba1	65.31	N/A
CNR-T	CANADIAN NATL RAILWAY CO	1.62	12.97	6.98	15.26	A	A2	36.62	27.70
ABX-T	BARRICK GOLD CORP	1.57	18.30	52.93	27.23	BBB	Baa1	8.86	30.22
MRU-T	METRO INC/CN	1.54	14.04	12.50	8.63	BBB	N/A	27.74	18.48
PRMW-T	PRIMO WATER CORP	1.51	0.63	-0.29	9.82	B	B1	N/A	80.03
RBA-T	RITCHIE BROS AUCTIONEERS	1.50	7.55	10.35	35.03	BB+	Ba2	55.38	38.01
LUN-T	LUNDIN MINING CORP	1.39	N/A	33.33	49.49	NR	N/A	52.76	44.73
BAM/A-T	BROOKFIELD ASSET MANAGE-CL A	1.25	9.49	12.46	-7.90	A-	Baa1	27.02	52.58
CCL-B-T	CCL INDUSTRIES INC - CL B	1.14	19.14	5.88	9.01	BBB	Baa2	25.37	21.16
WFT-T	WEST FRASER TIMBER CO LTD	1.05	23.36	0.00	24.84	BBB-	Baa3	N/A	14.91
ATD-B-T	ALIMENTATION COUCHE-TARD -B	0.87	21.74	19.00	-13.90	BBB	Baa2	12.48	12.92
CP-T	CANADIAN PACIFIC RAILWAY LTD	0.83	20.52	13.38	33.68	BBB+	N/A	17.79	26.15
WCN-T	WASTE CONNECTIONS INC	0.82	2.25	15.75	1.87	BBB+	Baa2	30.95	44.81
TECK-B-T	TECK RESOURCES LTD-CLS B	0.80	0.00	0.00	19.32	BBB-	Baa3	N/A	320.23
HSE-T	HUSKY ENERGY INC	0.74	-28.69	-67.50	N/A	BBB-	Baa3	N/A	N/A
CCO-T	CAMECO CORP	0.49	-27.52	0.00	42.93	BBB-	N/A	42.72	N/A
MX-T	METHANEX CORP	0.37	-14.18	-65.16	2.04	BB	Ba1	122.91	N/A
DOL-T	DOLLARAMA INC	0.37	8.33	1.70	12.73	BBB	N/A	9.80	28.42
SNC-T	SNC-LAVALIN GROUP INC	0.34	-39.66	-66.67	-24.26	BB+	N/A	12.84	N/A
HBM-T	HUDBAY MINERALS INC	0.24	0.00	0.00	71.77	B	B2	N/A	22.35
FM-T	FIRST QUANTUM MINERALS LTD	0.04	-34.30	0.00	74.49	CCC+	Caa2	N/A	N/A

Source: Bloomberg

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