7 Canadian Dividend Stocks Near All-Time Highs

TSI’s Scott Clayton has identified seven Canadian stocks across diverse economic sectors that are trading at or near all-time highs, yet still offer strong, sustainable dividends.

Our proprietary Dividend Sustainability Rating System rigorously evaluates companies based on dividend history, management commitment, industry stability, balance sheet strength, and earnings consistency. This ensures that each stock selected is positioned to maintain reliable payouts, regardless of market volatility.

Our analysis highlights leaders from food retail, gold mining, energy infrastructure, utilities, and insurance. By spreading investments across the five main economic sectors—Manufacturing & Industry, Resources & Commodities, Consumer, Finance, and Utilities—investors can limit downside risk from sector-specific shocks and capitalize on sudden rebounds in out-of-favour industries.

These companies represent compelling opportunities for investors seeking both income and growth, supported by robust fundamentals and a disciplined approach to dividend sustainability. Their diversified operations and strong financial positions make them well-suited to deliver steady returns, even as broader markets fluctuate.

Excerpt from theglobeandmail.com, April 24, 2025

What are we looking for?

Sustainable dividends from Canadian stocks near all-time highs despite market uncertainty.

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The screen

There are a number of Canadian stocks, across economic sectors, now trading at or near all-time highs despite tariff fears and the broader market turmoil. That supports one of our key Successful Investor principles: spread your money out across most if not all of the five main economic sectors: Manufacturing & Industry, Resources & Commodities, Consumer, Finance and Utilities.

There’s no way to predict which sectors will rise or fall in any given year or market, or which sector will produce the top performers. Still, by diversifying across the five sectors, you limit the harm you can suffer from unexpected bad news (such as tariffs!) or changes in investor fashion.

Indeed, out-of-favour sectors have a way of abruptly reversing course, but waiting on their return to popularity before you buy threatens to limit your potential gains.

Our search started with a list of Canadian stocks at or near their all-time highs, but also with strong revenue and earnings outlooks and offering dividends. We then applied our TSI Dividend Sustainability Rating System. It awards points to a stock based on key factors:

One point for five years of continuous dividend payments – two points for more than five
Two points if it has raised the payment in the past five years
One point for management’s commitment to dividends
One point for operating in non-cyclical industries
One point for limited exposure to foreign currency rates and freedom from political interference
Two points for a strong balance sheet, including manageable debt and adequate cash
Two points for a long-term record of positive earnings and cash flow sufficient to cover dividend payments
One point for an industry leader

Companies with 10 to 12 points have the most secure dividends, or the highest sustainability. Those with seven to nine points have above average sustainability; average sustainability, four to six points; and below average sustainability, one to three points.

7 standout Canadian stocks for sustainable dividends

Our TSI Dividend Sustainability Rating System generated seven stocks:

Brampton, Ontario’s Loblaw Cos. Ltd. (with a 1.0% yield) plus Montreal’s Metro Inc. (1.4%) continue to profit from their broad range of food, drugs and more.

Alamos Gold Inc. (0.4%), based in Toronto, and Lundin Gold Inc. (2.9%), headquartered in Vancouver, have soared to new heights as gold-stock investors seek sustainable dividends on top of share-price growth.

AltaGas Ltd. (3.2%), also headquartered in Calgary, continues to channel the steady profits from a big 2018 acquisition into new growth areas.

Fortis Inc. (3.7%), headquartered in Newfoundland, is the main supplier of electrical power in Newfoundland and PEI. It also owns electrical and gas utilities across North America.

And finally, Toronto-based Intact Financial Corp. (1.8%) offers investors exposure to Canada’s largest provider of property and casualty insurance.

We advise investors to do additional research on investments we identify here.

Scott Clayton, MBA, is senior analyst for TSI Network and associate editor of TSI Dividend Advisor.

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Scott Clayton

Scott is an associate editor at TSI Network. He is the lead reporter and analyst for Dividend Advisor, Power Growth Investor and Canadian Wealth Advisor and a member of the Investment Planning Committee. Scott began his investment and financial career working with Pat McKeough at The Investment Reporter in the 1980s. Subsequently, he worked at the Financial Post Corporation Service for 10 years. He joined TSI Network in 1998. He is a Bachelor of Economics graduate of York University, and he also has an M.B.A. from the Schulich School of Business.

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