Top Canadian Dividend Stocks

Last August I wrote an article about the Top Canadian Dividend stocks trading on US markets. These stocks are part of the S&P TSX Canadian Dividend Aristocrats Index.

Since dividends account for one third of the total returns of the TSX Composite Index, it pays to keep an eye on the current yields. This is especially true in times like these where many companies are suspending or reducing dividend payments. Fortunately not many Canadian companies have slashed dividends.

The following is the list of the 11 Canadian dividend stocks with the current yields:

1. Bank of Montreal - BMO
Dividend Yield - 10.80%

2. Bank of Nova Scotia Halifax - BNS
Dividend Yield -7.69%

3. Brookfield Properties Corp - BPO
Dividend Yield - 10.16%

4. Canadian National Railways - CNI
Dividend Yield - 2.41%

5. Canadian Natural Resources Limited - CNQ
Dividend Yield - 0.99%

6. Enbrdige Inc - ENB
Dividend Yield - 3.88%

7. Imperial Oil Ltd - IMO
Dividend Yield - 1.04%

8. Manulife Financial Corp - MFC
Dividend Yield - 7.66%

9. Royal Bank of Canada - RY
Dividend Yield - 7.01%

10. Sun Life Financial Serv Canada - SLF
Dividend Yield - 7.29%

11. Toronto-Dominion Bank - TD
Dividend Yield - 7.12%

Note: The above yield info. is as of Feb 25, 2009.

Disclosure: Long all four banks listed above and CNI.

Comments

[Dividend Gr...:]

David,

How sustainable are these dividend payments?

Feb 26 10:58 AM

[nithi:]

The best and sustainable.

Feb 26 05:54 PM

[naidle:]

Please... they're only sustainable if the market doesn't get worse. If there is another major set back their stocks will tumble. They simply can't maintain a 10-15% yield longterm which isn't out of the question.

We've really only had one large setback and two minor corrections in this bear market that many profess will last years.

Short term the dividends are quite safe. They're great companies with great track records but it can always get worse.




On Feb 26 05:54 PM nithi wrote:

> The best and sustainable.

Feb 26 07:16 PM