High 100 dividend shares in Canada 2024

Excessive charges punish dividend payers in two methods, the speculation goes. They lure capital in direction of safer interest-bearing belongings corresponding to bonds and assured funding certificates (GICs) that now boast aggressive yields. And so they increase financing prices for dividend-heavy sectors that do a variety of borrowing, corresponding to utilities, pipelines and actual property.

As soon as charges begin to fall, although, dividend shares are inclined to outperform other forms of shares. Their excessive yields begin to look extra engaging once more in comparison with deposits and glued revenue—elevating the prospect of upper earnings multiples mixed with excessive revenue yield as traders rotate again into the sector.

Contemplate our checklist of the highest 100 Canadian dividend shares for 2024, under, as a place to begin to your seek for investing prospects, not the ultimate vacation spot. Chances are you’ll end up wanting lengthy and exhausting for what traders usually think about dividend aristocrats: banks, telecoms, utilities, pipelines and actual property funding trusts (REITs). (They’re right here. It’s simply not that apparent.) Perceive that this train is supposed to determine candidates primarily based on quantitative elements together with not simply dividend yield and sustainability, but in addition measures of profitability, monetary energy and worth. (Be taught extra about our greatest dividend shares methodology.)

Score the highest 100 dividend shares in Canada

Many dividend-seeking traders gravitate in direction of financial institution shares—however these have taken a backseat on this yr’s prime 100. Whereas scoring fairly nicely on dividends and valuation, the financial institution shares suffered from substandard stability scores relative to most Toronto Inventory Trade–listed dividend payers in 2023, notes Aman Raina, investing coach and founding father of Sage Buyers, who extracted the info. “The insurance coverage corporations, against this, present extra steadiness in scoring. So, in case you are searching for monetary publicity, this subsector seems to have some respectable upside.”

One other shock on this yr’s greatest dividend inventory checklist was how nicely commodity-producing corporations scored on all three standards. “With potential for inflation and rates of interest to fall, resulting in probably decrease actual charges, this might give the [materials and energy] house some legs for a run in 2024,” Raina says.

Relying by yourself funding course of, deal with the checklist under as a source of concepts, to be augmented by extra thorough due diligence, particularly all through 2024. Our screening doesn’t account for qualitative elements such because the experience of firm administration, client and/or technological traits, or dangers related to the nations through which the businesses function, for instance.

To view all the info within the desk, slide the columns proper or left utilizing your fingers or mouse. You may filter or rearrange the rankings by utilizing the search software or clicking on column headings. You may as well obtain the info to your machine in Excel, CSV and PDF codecs.

The highest dividend shares in Canada for 2024