Top 100 dividend stocks in Canada 2025

Overview Top 100 Dividend Stocks Past Performance Methodology

The best dividend stocks in Canada

In coming up with MoneySense’s annual list of Best Dividend Stocks, we make a few assumptions about what Canadian investors are looking for. First of all, you want dividends that are ample, sustainable and won’t get cut. A dividend increase every now and then would be nice, though we’ll look beyond the snobby dividend “aristocrats” that raise their payout every year without fail. (We prefer to cast our net across a wider and deeper pool.) To this end, we scan for stocks that have been consistently growing their earnings and raising dividends in recent years and have payout ratios with some wiggle room.

Second, you likely want stocks that are poised to rise in price. A stock with an 8% yield won’t do much good for your portfolio if it loses 10% of its value. (Just ask BCE shareholders!)

There’s no sure way to predict how a stock will perform, but we favour equities that are a good value to start with and show a positive earnings trajectory.

Finally, you want reassurance that management has been effective stewards of capital, such that this recent good performance isn’t subsidized by debt. That way it won’t be derailed by a nasty surprise. That’s the thinking behind the way we rank Canada’s dividend stocks, using purely quantitative factors.

Learn more about the best dividends ranking methodology.

Ranking the Best Dividend Stocks in Canada

The results of our number-crunching, in the form of the Top 100 Dividend Stocks list below, may come as a surprise to some investors. You won’t find many of the usual suspects recommended by analysts and topping daily volume lists of numbers of shares traded. The only one of the Big Five banks represented is BMO, just making the cut at #92. There’s no Fortis, no Enbridge, no Restaurant Brands.

Think of those as the premium-priced name brands of the Toronto Stock Exchange. What our ranking highlights instead are many lesser-known names that may provide better value and growth prospects for your investment dollar. Of course, we won’t know until year-end how these picks perform for 2025, but our track record using the same methodology over the past 17 years gives us some confidence—check out how our 2024 Dividend All-Stars performed here.

“The scoring system we’re using rewards companies that exhibit rapid growth, low leverage and favourable valuation metrics, areas where banks may lag due to the nature of their business. Similar fundamentals are in play for telcos,” explains investing coach Aman Raina, founder of Sage Investors, who compiled our ranking for the third consecutive year. “Compare this with the resource companies, which have been more flush with cash thanks to higher commodity prices. They thus have more latitude to increase dividends aggressively.”

The average trailing yield for the Top 100 as of November 30 was 2.83%, slightly lower than that of the S&P/TSX Composite Dividend Index, representing all the dividend payers in the S&P/TSX Composite. Still, it provides investors seeking income some cash flow combined with capital appreciation and, in the case of a market downturn, a cash-flow cushion. And if they continue to hold these stocks for the long term, the payouts are likely to grow.

How to use the Top 100 Dividend Stocks ranking

Consider the 2025 Top 100 Dividend Stocks table below as a starting point for your search for investing prospects, not the final destination. Always conduct your own due diligence using the latest data provided by corporate earnings reports, your brokerage and/or third-party data providers before clicking the buy button. Our screening does not account for qualitative factors such as the expertise of company management, consumer and/or technological trends, or risks peculiar to the jurisdictions in which the companies operate. 

As we discuss further in our Dividend All-Stars overview story, 2024 saw a return to favourable market conditions for Canadian dividend investors. With four interest-rate cuts by the Bank of Canada last year and more expected in 2025, at least some of the capital that has been tied up in bonds and interest-bearing accounts is likely to rotate back into dividend stocks for their higher yields. That in turn should help support dividend stock prices. We wish you the best of luck in your investing choices this year.

Canada’s best dividend stocks

To view all the data in the table, slide the columns right or left using your fingers or mouse. You can filter or rearrange the rankings by using the search tool or clicking on column headings. You can also download the data to your device in Excel, CSV and PDF formats.

The top dividend stocks in Canada for 2024

Read more about investing:

• The MoneySense Glossary for personal finance and investing terms—for Canadians

• The best TFSAs in Canada
• The best ETFs in Canada

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