Top 10 High Dividend Stocks in canada in 2023

1. BCE (BCE): (Yearly Dividend 7.19%)

BCE inc stock price (55.14 CAD)

BCE, which stands for "Before Common Era," is a secular designation for years that is often used in place of the traditional "BC" (Before Christ) in historical and academic contexts. It is primarily employed to indicate years before the commonly accepted starting point of the Gregorian calendar, which is the birth of Jesus Christ. BCE serves as a more neutral and inclusive term for referencing historical periods, particularly in multicultural and diverse settings, where religious connotations might not be appropriate or relevant. The use of BCE and CE (Common Era) instead of BC and AD (Anno Domini) reflects a desire to create a more inclusive and globally accessible dating system.

2. National Bank of Canada (Yearly Dividend 6.47%)

National Bank of Canada stock price (100.33 CAD)

The National Bank of Canada, often referred to simply as National Bank or Banque Nationale in French, is one of Canada's leading financial institutions. Established in 1859, it is the sixth largest bank in Canada by market capitalization and operates as a diversified bank, providing a wide range of financial services to individuals, businesses, and institutions across the country.

3. Enbridge (ENB): (Yearly Dividend 5.5%)

Enbridge stock price (47.25 CAD)

Enbridge's operations span across the United States and Canada, with a diverse portfolio of assets that includes oil and natural gas pipelines, liquid natural gas facilities, renewable energy projects, and utility services. The company has played a significant role in enabling the movement of energy resources from production areas to refineries and end-users, contributing to the energy supply chain's reliability and stability.

4. TransAlta Renewables (RNW): (Yearly Dividend 5.0%)

TransAlta Renewables stock price (13.31 CAD)

TransAlta Renewables is a Canadian renewable energy company that focuses on generating sustainable power through a diversified portfolio of renewable energy assets. Established in 2013, TransAlta Renewables is a subsidiary of TransAlta Corporation, a prominent electricity generation and wholesale marketing company in Canada. The company is dedicated to producing electricity from environmentally friendly sources such as wind, hydro, and solar power. With a commitment to reducing carbon emissions and contributing to a cleaner energy future, TransAlta Renewables plays a significant role in the transition towards more sustainable energy solutions.

5. Telus (T): (Yearly Dividend 4.9%)

Telus Corp stock price (22.83 CAD)

Certainly! TELUS is a Canadian telecommunications company that provides a range of services including wireless communication, internet, television, and healthcare. Established in 1990, TELUS has grown to become one of Canada's largest telecommunications companies, known for its commitment to innovation, community involvement, and technological advancements. The company offers various communication and entertainment solutions to both residential and business customers, aiming to enhance connectivity and improve the overall quality of life for its users.

6. Manulife Financial (MFC): (Yearly Dividend 4.8%)

Manulife Financial stock price (24.45 CAD)

A worldwide Canadian insurance and financial services provider, Manulife Financial Corporation is based in Toronto. Founded in 1887 as The Manufacturers Life Insurance Company, Manulife has grown to become one of the largest life insurance companies in the world. It offers a wide range of financial products and services, including life insurance, health insurance, investment solutions, retirement planning, and wealth management.

7. Canadian Imperial Bank of Commerce (CM): (Yearly Dividend 4.7%)

Canadian Imperial Bank of Commerce stock price (53.76 CAD)

The Canadian Imperial Bank of Commerce (CIBC) is one of Canada's major financial institutions, providing a wide range of banking and financial services to individuals, businesses, and institutions. Established in 1867, CIBC has a rich history and is one of the "Big Five" banks in Canada, along with Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, and Bank of Montreal. CIBC offers services including personal and commercial banking, wealth management, investment advice, and capital markets solutions. With its headquarters in Toronto, CIBC has a significant presence in Canada and operates internationally through various subsidiaries and branches.

8. Royal Bank of Canada (RY): (Yearly Dividend 4.5%)

Royal Bank of Canada stock price (121.47 CAD)

The Royal Bank of Canada (RBC) is one of Canada's largest and most prominent financial institutions. Established in 1864, RBC has a rich history of serving individuals, businesses, and institutions with a comprehensive range of banking, wealth management, insurance, and capital markets services. With a strong emphasis on innovation and customer satisfaction, RBC has become a leader in the Canadian banking landscape and has also expanded its presence internationally. The bank is known for its commitment to community engagement, sustainability, and digital transformation in the financial industry.

9. Canadian Natural Resources (CNQ): (Yearly Dividend 4.2%)

Canadian Natural Resources stock price (83.40 CAD)

Canadian Natural Resources Limited (CNRL) is one of Canada's largest independent energy companies, primarily engaged in the exploration, development, production, and marketing of crude oil, natural gas, and related products. Founded in 1973 and headquartered in Calgary, Alberta, CNRL has a significant presence in both domestic and international energy markets. The company operates a diverse portfolio of assets, including oil sands projects, conventional oil and gas production, and natural gas processing facilities. CNRL is known for its technological innovation, commitment to environmental stewardship, and its contributions to Canada's energy sector.

10. Fortis (FTS): (Yearly Dividend 4.2%)

Fortis stock price (53.71 CAD)

Fortis Inc. (FTS) is a Canadian utility company primarily engaged in the generation, transmission, and distribution of electricity and natural gas. Established in 1987 and headquartered in St. John's, Newfoundland and Labrador, Fortis has grown to become one of the largest investor-owned utility corporations in North America. The company operates through various subsidiaries across Canada, the United States, and the Caribbean, providing essential energy services to millions of customers.

FAQ

How do I choose the best dividend stocks for me?

When choosing dividend stocks, it is important to consider your individual circumstances, such as your investment goals, time horizon, and risk tolerance. Some factors to consider include:

* Your investments goal: What are your financial plans? When do you need the money?

* Your level of comfort with risk: How much are you willing to take on?

* Your time horizon: How long do you have until you need the money?

* The company's financial strength: The company should have a strong financial position and be able to afford to pay dividends.

* The company's dividend history: The company should have a history of paying dividends regularly and increasing dividends over time.

* The company's dividend yield: The dividend yield is the amount of dividend per share divided by the stock price. A higher dividend yield means that the stock is more likely to pay out a higher dividend.

* The company's growth potential: The company should have good growth prospects so that the stock price can also appreciate in value.

Where can I find information about dividend stocks?

There are a number of resources available to help you find information about dividend stocks, including:

* Financial websites: There are a number of financial websites that provide information about dividend stocks, such as Morningstar and Seeking Alpha.

* Investment research reports: There are a number of investment research firms that publish research reports on dividend stocks.

* Newspapers and magazines: There are a number of newspapers and magazines that publish articles about dividend stocks.

* Dividend screeners: There are a number of dividend screeners that allow you to search for stocks that meet certain criteria, such as dividend yield, dividend growth rate, or dividend payout ratio.

How do I start investing in dividend stocks?

To start investing in dividend stocks, you will need to open a brokerage account. Once you have opened a brokerage account, you can start buying dividend stocks.

What are some tips for investing in dividend stocks?

* Do your research: Before you buy any dividend stock, it is important to do your research and understand the company.

* Invest for the long term: Dividend stocks are typically more volatile in the short term, but they tend to perform well over the long term.

* Diversify your portfolio: Don't put all your eggs in one basket. Investing in a range of dividend companies will help you diversify your portfolio.

* Reinvest your dividends: Reinvesting your dividends can help you to grow your investment over time.

* Be patient: It takes time to build a successful dividend portfolio. Be patient and don't panic sell if the market goes down.

What are some frequent blunders to stay away from when buying dividend stocks?

* Not doing your research: Before you buy any dividend stock, it is important to do your research and understand the company.

* Chasing yield: Don't just buy stocks with high dividend yields. Look for stocks that also have strong financials and a history of paying dividends.

* Reinvesting your dividends: Reinvesting your dividends can help you to grow your investment over time.

* Panic selling: The market will go up and down. If the market declines, resist the urge to sell.

* Not being patient: It takes time to build a successful dividend portfolio. Be patient and don't count on being wealthy quickly.

What is the difference between a dividend and a stock split?

A dividend is a payment a business makes to its shareholders, usually once every quarter. A stock split is the separation of an existing company's shares into a number of new shares.

Can a stock split be a dividend?

No, a stock split is not a dividend. A stock split does not involve the payment of any cash or other assets to shareholders. Instead, it simply increases the number of shares that each shareholder owns.

Does a stock split affect the stock price?

Yes, a stock split can affect the stock price. When a stock splits, the price per share will go down, but the total value of the shareholder's investment will remain the same.

Why do companies do stock splits?

There are a few reasons why companies do stock splits. One reason is to make the stock more affordable to investors. Another reason is to increase the liquidity of the stock, which makes it easier to buy and sell. Finally, some companies do stock splits simply to boost investor morale.

What are the tax implications of a stock split?

The tax implications of a stock split depend on the jurisdiction where the stock is traded. In Canada, a stock split is not considered a taxable event. This means that there is no capital gains tax due when a stock splits.

What are some of the advantages of investing in dividend stocks?

* Income: Dividend stocks can provide a steady stream of income, which can be helpful for retirees or other investors who need a regular income stream.

* Growth: Dividend stocks can also grow in value over time, so investors can benefit from both income and capital appreciation.

* Safety: Dividend stocks are typically considered to be safer than other types of investments, such as individual stocks or bonds. This is because dividend-paying companies are typically well-established and have a track record of paying dividends.

* Tax efficiency: Dividends are typically taxed at a lower rate than capital gains.

What are some of the disadvantages of investing in dividend stocks?

Here are some of the disadvantages of investing in dividend stocks:

* Market risk: The value of dividend stocks can go down if the market goes down.

* Dividend risk: The company may cut or eliminate dividends if its financial performance declines.

* Interest rate risk: Rising interest rates can make dividend stocks less attractive to investors, which can cause the stock price to go down.

* Liquidity risk: Dividend stocks may not be as liquid as other types of investments, such as blue-chip stocks. This means that it may be difficult to sell the stocks quickly if you need to access your money.

What are some of the risks of investing in dividend stocks?

The risks of investing in dividend stocks are similar to the risks of investing in any stock. These risks include:

* Market risk: The value of dividend stocks can go down if the market goes down.

* Company-specific risk: The value of dividend stocks can go down if the company experiences financial problems.

* Dividend risk: The company may cut or eliminate dividends if its financial performance declines.

* Interest rate risk: Rising interest rates can make dividend stocks less attractive to investors, which can cause the stock price to go down.

* Liquidity risk: Dividend stocks may not be as liquid as other types of investments, such as blue-chip stocks. This means that it may be difficult to sell the stocks quickly if you need to access your money.

How can I mitigate the risks of investing in dividend stocks?

There are a number of ways to mitigate the risks of investing in dividend stocks, including:

* Diversify your portfolio: Keep your diversification in mind. Investing in a range of dividend companies will help you diversify your portfolio.

* Invest for the long term: Dividend stocks are typically more volatile in the short term, but they tend to perform well over the long term.

* Do your research: Before you buy any dividend stock, it is important to do your research and understand the company.

* Rebalance your portfolio regularly: As your portfolio grows, you will need to rebalance it to ensure that it remains diversified.

* Be patient: It takes time to build a successful dividend portfolio. Be patient

Top 10 High Dividend Stocks in canada in 2023

A dividend is a payment made by a company to its shareholders, typically on a quarterly basis.