Top 100 dividend stocks of 2022

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How to use this table

As well as the Dividend All-Stars have performed over the years, the ranking should be viewed as the starting point for your research, not the end. This report aims to identify companies that offer the best investment potential now, based on yield, stability and value, but it’s a purely fundamental analysis. Use this list to narrow the prospective investments worthy of additional research before deciding whether they deserve to be included in your portfolio.

The ranking also doesn’t account for other important factors like management or risks that could seriously affect a company’s performance. That’s not to suggest those factors aren’t important, but that they require a more qualitative analysis that is best done on a company-by-company basis. By the same token, a low grade doesn’t necessarily mean a company is a bad investment or is at risk of cutting its payout. 

Our main goal is to narrow down the list of prospects to review, so you have a reasonable starting point. To capture the full performance of the Dividend All-Stars, you would have to invest equal amounts into each of the top stocks. You would have to liquidate your portfolio at the end of the year and repeat the process with the latest top picks. 

For many investors, buying the complete list may not be practical. If you have only small sums of money to invest, the $9 or more it may cost you to execute each trade—not to mention the $9 to sell them later—can be a drag on performance. If you’re parking $10,000 into each investment, that may not matter. But if you’re only able to invest $1,000 into each company, then it may not be as enticing. 

If you’re comfortable adding individual stocks to your portfolio, make sure you have a plan to limit your risk and have a clear idea of how it fits into your broader plan. As a guide, most portfolio managers try to limit a single investment to no more than 10% of their portfolios, although even their favourite holdings are often far below that threshold. 

It’s also worth considering how these investments fit into your broader plan. While dividend stocks can generate income, putting too much of your portfolio against one asset class may not be an appropriate way to achieve your investment goals. Before deciding how to proceed, make sure you have a solid foundation before venturing into individual stocks.

Whether you’re an experienced or novice investor, consider keeping your “play” money under 10% of your portfolio to limit your risk. As always, avoid taking unnecessary risks, especially when it comes to managing your retirement portfolio. 

However you decide to invest, always plan to do your research. Building the Dividend All-Stars takes time to assemble and check. Between the time when we pulled the data and now, ensure nothing material has changed that could undermine a stock’s prospects.

 

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Company Ticker Industry Price (Oct 23) Market Cap ($B) Total 1-year return Total 5-year return Dividend yield Dividend Growth (5Yr
Avg)
Payout ratio Debt/Equity Return on Common Equity Price/Cash Flow 3-year earnings growth Price/Earnings Price/Book Grade
Manulife Financial Corp MFC Insurance $22.40 $43.45 -6.72% 5.95% 5.00% 10.99% 26.85% 0.30 10.80 2.23 42.06% 8.48 0.88 A
Genworth MI Canada Inc MIC Thrifts & Mortgage Finance $43.52 $3.76 -9.47% 19.65% 4.96% 40.09% 37.48% 0.15 10.91 6.44 4.00% 8.79 1.00 A
iA Financial Corp Inc IAG Insurance $56.35 $6.03 -15.09% 8.00% 3.44% 10.83% 23.96% 0.25 10.84 3.95 7.75% 8.26 1.03 A
Power Corp of Canada POW Insurance $29.46 $19.75 -8.32% 5.66% 6.08% 7.39% 59.93% 0.66 9.29 1.87 3.41% 10.37 0.97 A
Great-West Lifeco Inc GWO Insurance $29.14 $27.03 -7.54% 1.60% 6.01% 6.08% 49.19% 0.43 12.57 3.00 0.86% 9.59 1.29 A
Capital Power Corp CPX Independent Power and Renewable Electricity Producers $34.95 $3.87 9.85% 24.97% 5.87% 7.11% 53.19% 0.96 8.79 12.42 18.01% 10.03 1.28 A
Toronto-Dominion Bank/The TD Banks $71.69 $130.20 1.32% 10.12% 4.41% 9.23% 28.17% 0.20 13.54 5.32% 11.09 1.45 B
Cascades Inc CAS Containers & Packaging $15.03 $1.54 35.49% 6.82% 2.13% 14.87% 15.51% 1.27 6.25 4.61 70.44% 7.89 0.90 B
Royal Bank of Canada RY Banks $104.86 $149.31 4.67% 11.70% 4.12% 6.85% 48.42% 0.19 14.08 2.72 1.49% 13.39 1.85 B
National Bank of Canada NA Banks $72.39 $24.32 5.02% 17.32% 3.92% 6.84% 51.95% 0.13 14.93 5.59 2.16% 11.79 1.81 B
Sun Life Financial Inc SLF Insurance $56.59 $33.10 0.21% 9.59% 3.89% 7.82% 42.90% 0.20 11.01 4.24 3.81% 15.64 1.48 B
Canadian Western Bank CWB Banks $29.19 $2.54 -3.70% 8.74% 3.97% 5.50% 39.85% 0.91 9.06 4.39 5.98% 10.19 0.86 B
Pembina Pipeline Corp PPL Oil, Gas & Consumable Fuels $33.55 $18.45 -23.45% 8.62% 7.51% 6.97% 123.57% 0.83 6.73 19.72 40.65% 13.41 1.34 B
Aecon Group Inc ARE Construction & Engineering $16.74 $1.00 1.28% 7.03% 3.82% 9.89% 13.01% 0.80 8.88 3.63 28.67% 55.78 1.16 B
TC Energy Corp TRP Oil, Gas & Consumable Fuels $56.41 $53.02 -11.55% 8.61% 5.74% 9.28% 84.29% 1.62 16.21 691.05% 13.17 1.88 B
Transcontinental Inc TCL.A Commercial Services & Supplies $22.28 $1.95 59.17% 10.35% 4.04% 5.96% 38.20% 0.53 7.70 5.58 -17.55% 12.72 1.12 B
Bank of Nova Scotia/The BNS Banks $68.16 $82.57 -1.92% 8.82% 5.28% 5.77% 62.46% 1.31 10.41 1.55 -5.49% 13.17 1.31 B
Equitable Group Inc EQB Thrifts & Mortgage Finance $96.78 $1.63 -11.06% 14.22% 1.53% 14.26% 8.55% 0.11 14.35 12.53% 8.05 1.08 B
Barrick Gold Corp ABX Metals & Mining $28.62 $50.89 24.78% 25.18% 1.63% 18.30% 18.14% 0.23 14.09 14.76 59.21% 17.24 1.75 B
Westshore Terminals Investment Corp WTE Transportation Infrastructure $17.30 $1.13 -6.58% 9.39% 3.70% -13.48% 31.69% 0.39 18.92 6.89 9.51% 8.58 1.55 B
Norbord Inc OSB Paper & Forest Products $55.68 $4.49 69.32% 22.45% 4.31% 10.44% 23.88% 0.76 28.95 10.06 15.84 3.99 B
Canadian Imperial Bank of Commerce CM Banks $110.75 $49.50 7.62% 8.95% 5.27% 6.24% 66.19% 0.15 10.03 -8.95% 11.72 1.32 B
Enbridge Inc ENB Oil, Gas & Consumable Fuels $42.53 $86.13 -9.56% 5.84% 7.85% 11.74% 165.66% 1.10 3.28 18.65 17.97% 18.06 1.50 B
Atco Ltd/Canada ACO.X Multi-Utilities $38.16 $4.45 -21.05% 5.56% 4.56% 11.95% 92.22% 2.33 6.72 13.51 23.52% 17.35 1.08 B
CI Financial Corp CIX Capital Markets $16.64 $3.49 -19.63% -7.15% 4.33% -11.08% 29.54% 1.07 34.05 5.96 7.63% 6.94 2.29 B
Bank of Montreal BMO Banks $96.12 $62.14 -0.12% 8.54% 4.41% 5.53% 44.71% 0.22 10.13 -1.30% 12.71 1.24 B
Canadian Tire Corp Ltd CTC.A Multiline Retail $164.61 $10.16 19.35% 8.94% 2.86% 16.72% 23.35% 1.41 14.71 4.15 11.16% 16.61 2.43 B
Labrador Iron Ore Royalty Corp LIF Metals & Mining $31.47 $2.01 29.99% 36.96% 3.18% 22.03% 49.89% 34.41 14.55 47.68% 10.05 3.31 B
IGM Financial Inc IGM Capital Markets $35.17 $8.38 -0.82% 6.54% 6.40% 0.00% 70.21% 1.17 15.56 12.94 1.26% 11.39 1.70 B
AltaGas Ltd ALA Gas Utilities $18.77 $5.25 5.86% -2.27% 5.33% -12.46% 27.90% 1.02 5.20 40.91% 12.45 0.82 B
Keyera Corp KEY Oil, Gas & Consumable Fuels $23.39 $5.01 -24.07% -4.04% 8.21% 6.56% 317.30% 1.10 5.84 19.98% 11.85 1.75 B
North West Co Inc/The NWC Food & Staples Retailing $34.66 $1.69 31.50% 8.74% 4.15% 2.73% 50.75% 0.73 27.84 8.85 3.76% 14.04 3.53 B
Quebecor Inc QBR.B Media $33.62 $8.38 4.26% 16.02% 2.38% 65.21% 35.56% 5.70 59.41 8.79 52.79% 15.26 7.73 B
Shaw Communications Inc SJR.B Media $23.18 $11.95 -8.49% 1.65% 5.11% 0.24% 264.46% 0.92 11.38 12.96 872.17% 17.43 2.00 B
Canadian Natural Resources Ltd CNQ Oil, Gas & Consumable Fuels $31.27 $36.93 -14.98% 5.69% 5.44% 13.07% 123.03% 0.65 – 1.75 12.01 38.17 1.15 B
Cogeco Communications Inc CCA Media $99.25 $4.78 -12.49% 12.31% 2.58% 10.57% 30.53% 1.36 16.79 11.05 9.09% 13.30 2.11 B
Corus Entertainment Inc CJR.B Media $4.27 $0.89 -14.99% -7.81% 5.62% -26.72% 41.29% 1.74 – 50.10 3.00 5.72 0.99 B
Russel Metals Inc RUS Trading Companies & Distributors $22.01 $1.37 7.90% 15.59% 6.91% 0.00% 129.67% 0.58 2.81 3.64 35.81% 57.05 1.49 C
Laurentian Bank of Canada LB Banks $32.60 $1.41 -20.73% -3.35% 4.91% -0.55% 50.83% 4.52 4.33 0.72 -22.91% 11.39 0.60 C
Martinrea International Inc MRE Auto Components $14.97 $1.20 20.55% 9.38% 1.34% 10.20% 8.79% 0.89 – 1.77 11.10 30.38% 7.32 1.01 C
Canadian Utilities Ltd CU Multi-Utilities $31.99 $8.76 -15.34% 5.56% 5.44% 8.10% 130.53% 1.72 8.20 43.41 20.42% 18.38 1.70 C
Centerra Gold Inc CG Metals & Mining $12.78 $3.78 27.66% 13.06% 1.56% 0.00% 7.18% 0.01 13.24 5.59 8.96 1.25 C
Finning International Inc FTT Trading Companies & Distributors $27.48 $4.45 17.43% 12.60% 2.98% 2.49% 37.76% 0.62 9.80 4.69 83.97% 25.87 2.04 C
BCE Inc BCE Diversified Telecommunication Services $56.52 $51.11 -4.39% 6.05% 5.89% 5.07% 109.74% 1.49 13.56 11.76 0.56% 17.82 3.06 C
Sleep Country Canada Holdings Inc ZZZ Specialty Retail $26.27 $0.96 36.12% 12.82% 2.97% 35.10% 22.20% 1.12 15.70 4.92% 18.83 2.85 C
West Fraser Timber Co Ltd WFT Paper & Forest Products $83.23 $5.72 56.59% 11.67% 0.96% 23.36% 3.71% 0.24 13.64 8.12 16.33 2.03 C
Magna International Inc MG Auto Components $79.44 $23.77 13.41% 9.88% 2.63% 13.46% 28.40% 0.53 4.42 11.71 3.59% 27.06 1.82 C
Algonquin Power & Utilities Corp AQN Multi-Utilities $20.38 $12.17 14.55% 19.69% 3.89% 11.85% 172.71% 0.87 11.36 62.70% 24.36 2.09 C
Imperial Oil Ltd IMO Oil, Gas & Consumable Fuels $24.52 $18.00 -23.74% -8.06% 3.59% 10.26% 5366.67% 0.22 – 1.84 40.82 105.97% 48.78 0.79 C
NFI Group Inc NFI Machinery $23.25 $1.45 -5.48% 0.19% 3.66% 11.91% 116.20% 2.09 – 19.23 9.72 -11.43% 2.42 1.89 C
Stella-Jones Inc SJ Paper & Forest Products $45.63 $3.05 25.20% -1.28% 1.31% 13.40% 12.80% 0.42 14.77 17.25 3.51% 15.08 2.13 C
Kirkland Lake Gold Ltd KL Metals & Mining $49.78 $13.69 -11.12% 77.45% 1.35% 0.00% 16.94% 22.10 15.86 97.12% 12.67 2.16 C
Exchange Income Corp EIF Airlines $37.56 $1.29 -7.91% 13.93% 6.07% 4.84% 116.82% 1.74 5.90 14.22 6.04% 32.10 1.87 C
Intact Financial Corp IFC Insurance $149.00 $21.31 11.59% 13.83% 2.23% 9.39% 36.98% 0.36 11.79 12.34 11.40% 21.03 2.65 C
Metro Inc/CN MRU Food & Staples Retailing $59.00 $14.77 8.10% 10.20% 1.53% 14.04% 30.27% 0.74 13.15 15.64 43.22% 18.71 2.40 C
Empire Co Ltd EMP.A Food & Staples Retailing $35.54 $9.54 18.41% 8.95% 1.46% 5.64% 18.22% 1.44 16.77 6.34 64.84% 15.75 2.35 C
TELUS Corp T Diversified Telecommunication Services $25.47 $32.87 7.05% 9.88% 4.89% 7.12% 121.81% 1.47 11.49 22.94 12.59% 20.79 2.69 C
TFI International Inc TFII Road & Rail $67.70 $6.32 58.46% 27.27% 1.54% 8.87% 21.37% 0.62 17.71 10.69 9.13% 18.85 2.81 C
Stantec Inc STN Professional Services $41.34 $4.63 14.86% 5.49% 1.50% 8.40% 27.93% 0.56 9.99 7.87 77.79% 23.51 2.26 C
Alimentation Couche-Tard Inc ATD.B Food & Staples Retailing $44.65 $49.78 5.37% 7.85% 0.78% 21.74% 12.86% 0.73 24.31 22.64 25.97% 15.85 3.26 C
Agnico Eagle Mines Ltd AEM Metals & Mining $87.66 $21.29 10.37% 20.59% 2.08% 25.06% 38.04% 0.30 12.43 52.53 41.66% 39.60 3.03 C
Hydro One Ltd H Electric Utilities $29.09 $17.38 17.29% 10.16% 3.49% 0.00% 53.74% 1.06 18.37 37.36 2.42% 8.89 1.65 C
Restaurant Brands International Inc QSR Hotels, Restaurants & Leisure $78.37 $36.80 -7.37% 12.28% 3.39% 37.17% 108.66% 5.83 23.82 17.40 23.04% 27.76 7.96 C
Intertape Polymer Group Inc ITP Containers & Packaging $24.79 $1.46 65.61% 10.79% 3.25% 4.39% 32.08% 1.77 25.12 10.93 -4.54% 16.35 4.03 C
Rogers Communications Inc RCI.B Wireless Telecommunication Services $60.10 $30.48 -2.71% 7.27% 3.33% 0.82% 49.41% 1.88 16.37 14.52 44.16% 17.70 3.02 C
TMX Group Ltd X Capital Markets $125.98 $7.14 17.36% 31.10% 2.22% 11.20% 56.57% 0.23 7.25 23.52 16.06% 25.24 1.98 C
Mullen Group Ltd MTL Road & Rail $11.67 $1.13 45.66% 1.01% 3.08% -19.73% 33.55% 0.68 6.84 8.48 9.89% 21.23 1.26 C
Fortis Inc/Canada FTS Electric Utilities $53.11 $24.70 2.23% 11.69% 3.80% 6.79% 156.51% 1.38 7.36 26.91% 21.00 1.41 C
Gibson Energy Inc GEI Oil, Gas & Consumable Fuels $21.31 $3.12 -13.38% 17.95% 6.38% 1.39% 283.43% 1.78 19.09 17.20 20.40 4.21 C
Onex Corp ONEX Diversified Financial Services $72.64 $6.58 -8.88% -1.97% 0.55% 12.20% 1.88% 0.78 4.76 14.41 13.28 0.78 C
Enerplus Corp ERF Oil, Gas & Consumable Fuels $4.31 $0.96 -48.43% 0.37% 2.78% -29.72% 7.00% 0.57 – 84.53 6.42 13.28 1.26 C
CCL Industries Inc CCL.B Containers & Packaging $59.46 $10.63 5.80% 7.73% 1.21% 19.14% 20.94% 0.73 16.32 18.08 11.89% 20.37 3.35 C
George Weston Ltd WN Food & Staples Retailing $99.15 $15.24 -3.93% 0.68% 2.22% 4.63% 26.58% 2.54 14.02 4.35 -18.03% 18.05 1.94 C
Parkland Corp/Canada PKI Oil, Gas & Consumable Fuels $41.31 $6.18 -8.83% 17.15% 2.94% 2.38% 61.84% 2.17 12.84 7.75 81.18% 20.85 3.27 C
Loblaw Cos Ltd L Food & Staples Retailing $65.20 $23.01 -3.97% 6.09% 2.06% 5.17% 32.74% 1.29 9.18 6.55 19.34% 20.87 2.13 C
Maple Leaf Foods Inc MFI Food Products $28.45 $3.53 14.38% 7.11% 2.25% 14.87% 29.88% 0.47 5.42 -22.61% 36.21 1.82 C
Wheaton Precious Metals Corp WPM Metals & Mining $51.34 $23.05 39.46% 26.15% 1.22% 17.38% 29.96% 0.09 7.96 26.21 162.38% 42.20 3.25 C
Nutrien Ltd NTR Chemicals $62.39 $35.51 4.27% 3.68% 0.00% 77.70% 0.49 0.42 18.83 21.41% 33.93 1.26 C
Badger Daylighting Ltd BAD Construction & Engineering $38.39 $1.34 5.73% 11.80% 1.56% 10.48% 32.37% 0.37 11.39 20.89 40.52% 33.66 3.87 C
TransAlta Renewables Inc RNW Independent Power and Renewable Electricity Producers $18.18 $4.85 29.58% 21.01% 5.17% 3.00% 1050.00% 0.34 3.82 18.69 37.85 2.14 C
Tourmaline Oil Corp TOU Oil, Gas & Consumable Fuels $17.80 $4.85 33.11% -1.88% 3.15% 0.00% 673.31% 0.21 0.65 9.74 0.62 C
Suncor Energy Inc SU Oil, Gas & Consumable Fuels $23.08 $35.20 -42.59% -4.79% 3.64% -0.80% 50.90% 0.50 – 15.91 286.65% 86.21 0.97 C
Tricon Residential Inc TCN Real Estate Management & Development $11.50 $2.22 8.98% 6.72% 2.43% 3.13% 17.59% 2.41 4.74 21.00 44.59% 69.15 1.05 C
Enghouse Systems Ltd ENGH Software $64.58 $3.57 35.96% 15.06% 0.84% 17.49% 28.69% 0.06 21.80 23.35 14.05% 37.57 7.42 C
Toromont Industries Ltd TIH Trading Companies & Distributors $93.40 $7.69 40.32% 26.73% 1.33% 12.77% 32.96% 0.41 16.66 23.99 21.58% 31.41 4.72 C
Canadian National Railway Co CNR Road & Rail $139.63 $99.36 19.82% 15.29% 1.65% 12.97% 41.51% 0.69 18.06 37.53 11.82% 27.21 5.14 C
Linamar Corp LNR Auto Components $67.45 $4.41 42.79% -0.90% 0.71% -2.09% 6.26% 0.20 5.26 3.87 -4.86% 16.71 1.04 C
Northland Power Inc NPI Independent Power and Renewable Electricity Producers $44.73 $9.02 69.34% 26.37% 2.68% 2.13% 75.05% 5.55 36.49 11.17 41.09% 22.15 7.12 C
Yamana Gold Inc YRI Metals & Mining $6.71 $6.39 37.88% 22.83% 2.00% 0.45% 26.80% 0.23 2.73 13.73 32.14 1.17 C
Sprott Inc SII Capital Markets $37.81 $0.96 33.02% 17.62% 3.46% 0.52% 67.96% 0.05 6.82 22.93 -16.95% 33.66 2.51 C
Superior Plus Corp SPB Gas Utilities $12.46 $2.19 10.74% 11.71% 5.78% 0.00% 900.00% 1.84 6.54 8.38 -25.83% 35.57 2.28 C
Canadian Pacific Railway Ltd CP Road & Rail $427.60 $57.43 30.33% 21.24% 0.89% 19.70% 21.40% 1.18 31.17 57.88 21.94% 24.61 7.59 C
PrairieSky Royalty Ltd PSK Oil, Gas & Consumable Fuels $10.87 $2.43 -22.99% -10.20% 2.21% -28.64% 142.55% 1.73 14.15 158.17% 59.13 1.04 C
Sienna Senior Living Inc SIA Health Care Providers & Services $13.74 $0.92 -19.01% 2.77% 6.81% 0.79% 921.00% 1.61 – 2.90 17.20 -10.53% 1.95 C
ARC Resources Ltd ARX Oil, Gas & Consumable Fuels $6.14 $2.17 -14.27% -13.59% 3.91% -31.07% 150.00% 0.26 – 21.90 9.74 216.96 0.81 C
Saputo Inc SAP Food Products $37.00 $15.18 -6.04% 4.53% 1.89% 5.26% 40.74% 0.59 9.54 16.80 -6.05% 23.83 2.33 C
Fairfax Financial Holdings Ltd FFH Insurance $448.02 $12.85 -22.91% -4.53% 2.91% 1.71% 34.40% 0.75 – 0.53 18.74 171.93 0.79 C
Open Text Corp OTEX Software $58.68 $15.98 4.85% 14.29% 1.76% 13.97% 45.94% 0.93 6.60 12.70 -26.62% 35.72 3.08 D
Inter Pipeline Ltd IPL Oil, Gas & Consumable Fuels $13.29 $5.70 -36.97% -2.55% 3.61% -9.64% 133.07% 1.35 7.08 0.59% 18.30 1.37 D
Richelieu Hardware Ltd RCH Trading Companies & Distributors $36.21 $2.05 34.53% 10.22% 0.74% 0.01% 13.26% 0.10 14.77 15.42 3.35% 26.45 3.71 D


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