Canadian Dividend Stocks List: High-Yield TSX Companies

Canadian Utilities and Fortis hold the two longest dividend growth streaks in Canada, with both companies having raised their payouts every year for more than half a century. They anchor a broader group of roughly 91 stocks in the S&P/TSX Canadian Dividend Aristocrats Index — a threshold that requires just five consecutive years of dividend increases, far lower than the 25-year minimum used for U.S. Dividend Aristocrats.

All stocks on this page trade on the Toronto Stock Exchange (TSX) in Canadian dollars. The highest-yielding Canadian dividend stocks tend to cluster in a handful of sectors:

• Banks: Royal Bank of Canada (RBC), TD Bank, Bank of Nova Scotia (BNS), National Bank of Canada — long histories of dividend payments, though exposed to credit cycles and housing sensitivity.
• Pipelines & midstream energy: Enbridge (ENB), with a three-decade dividend growth streak, and Pembina Pipeline (PPL) — fee-based models tied to long-term contracts.
• Utilities: Fortis (FTS), Canadian Utilities (CU), Emera (EMA), Hydro One (H) — regulated revenue but sensitive to interest rates and financing costs.
• Telecoms: BCE Inc. (BCE), TELUS (T), Cogeco Communications (CCA) — subscription-style revenue supporting regular distributions.
• REITs: SmartCentres REIT (SRU.UN), Granite REIT (GRT.UN) — note that REITs are excluded from some dividend-focused indices, and traditional EPS can be distorted by depreciation.
• Oil & gas: Canadian Natural Resources (CNQ) — royalty trusts in this sector can see extreme quarter-to-quarter swings in payouts due to commodity price volatility.

For passive exposure, the iShares S&P/TSX Canadian Dividend Aristocrats Index ETF (CDZ) tracks the Aristocrats index, while the Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY) follows a broader high-yield screen. A full list of dividend ETFs is available separately. U.S. investors should note that Canada imposes a 15% withholding tax on dividends, though this may be waived when holding shares in a U.S. retirement account.

For an overview of all largest listed companies in Canada, see our dedicated page.

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The table below lists leading Canadian dividend-paying companies by market capitalization, primarily traded on the TSX. Yields, payout ratios, and other data are updated regularly to reflect current market conditions.