Top 100 dividend stocks of 2020

Overview Top 100 Dividend Stocks Past Performance Methodology

How to use this table

There are two things to consider as you review this report. First, as you scan through the ranking, you’ll stumble across many large and familiar companies, many in sectors that are traditionally home to solid dividend-paying stocks.

The list is not meant to be a critique of dividend-paying companies or suggest poorly graded companies are at risk of cutting their payouts. The Dividend All-Stars should be used as a tool to help you identify the companies that offer the best investment potential now, based on yield, stability and value.

For all the success the Dividend All-Stars ranking has enjoyed over the years, it should be seen as the starting point for your own research; our goal is to winnow down the field of stocks to you to review. It’s up to you to look past the grades to consider the intangible facets of each company that can influence their performance.

To capture the performance of the Dividend All-Stars, you would have had to invest equal amounts into each of the top stocks. Following this approach, you would liquidate your portfolio at the end of the year and repeat the process with the latest top picks. Buying all of the top stocks provides some diversification and offers investors a little insurance against the odd dud that can sneak into any portfolio. Bear in mind, if you only have small sums of money to invest, the $9 or more it may cost you to execute each trade can be a significant drag on your portfolio right out of the gate.

Still, a few investors will undoubtedly select a small number of names from the list which they feel offer the best prospects. If that sounds like you, then take even greater care before buying a stock, and decide if you are willing to take on the added risk of investing in a smaller pool of companies.

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If you decide to pick individual stocks, then make sure you have a strategy to limit your risk of exposure. Before you start buying individual companies, Michele Robitaille, managing director at Guardian Capital LP, says investors should ensure the largest portfolio, such as their retirement savings, has a solid foundation, with input from a money manager.

(The Canadian Couch Potato strategy, as longtime MoneySense readers know, is another sensible option.)

Similarly, Robitaille says investors should plan to have another 5% to 10% of their portfolios in even more conservative investments for a rainy day fund. For those investors who want to add individual names to their portfolio, she suggests keeping their “play” money under 10% of their portfolio to limit their risk.

Whichever strategy you choose, before you make any investment decision make sure nothing material has changed that might make it a less attractive buy. Markets can shift fast, and this report presents a snapshot in time.

With that, here are this year’s Dividend All-Stars:

Company	Ticker	Industry Group	Price (Oct 23)	Market Cap ($M)	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	24.53	$47.789	25.8%	7.3%	4.1%	12.9%	33.9%	70.38	13.25	2.43	28.1%	8.42	1.06	A
Methanex Corp.	MX	Chemicals	47.84	$3.645	-42.3%	-3.3%	4.0%	13.4%	29.6%	80.66	25.9	6.89	41.6%	8.43	1.91	A
Magna International Inc.	MG	Auto Parts & Equipment	70.74	$21.900	18.2%	7.9%	2.7%	19.1%	17.7%	39.28	22.66	6.89	4.5%	8.31	1.47	A
Imperial Oil Ltd.	IMO	Oil & Gas	33.21	$25.109	-18.4%	-7.1%	2.6%	9.5%	20.5%	21.15	12.74	10.2	27.3%	8.31	1	A
iA Financial Corp. Inc.	IAG	Insurance	61.11	$6.498	36.5%	10.0%	2.9%	11.0%	28.5%	15.76	12.56	7.5	18.7%	10.3	1.27	A
Genworth MI Canada Inc.	MIC	Insurance	52.6	$4.525	46.5%	12.7%	3.9%	22.7%	42.7%	10.87	10.23	9.42	4.3%	10.23	1.11	A
Canadian Imperial Bank of Commerce	CM	Banks	111.89	$49.779	3.7%	6.9%	5.1%	7.3%	48.4%	138.69	15.12	3.95	13.8%	9.22	1.41	A
Great-West Lifeco Inc.	GWO	Insurance	31.18	$28.937	10.2%	4.5%	5.3%	5.8%	62.3%	23.57	12.47	3.9	2.3%	14.27	1.49	A
Power Financial Corp.	PWF	Insurance	31.04	$20.614	15.3%	4.1%	5.9%	5.1%	71.8%	47.95	11.12	2.57	-0.9%	10.92	1.19	A
Power Corp. of Canada	POW	Insurance	30.83	$13.117	20.7%	5.8%	5.3%	6.3%	71.8%	26.22	7.28	1.66	-10.0%	12.3	1.01	A
Canadian Natural Resources Ltd.	CNQ	Oil & Gas	33.82	$40.196	-3.8%	0.2%	4.2%	10.8%	35.4%	64.5	14.45	8.63	-	12.64	1.16	B
Enbridge Inc.	ENB	Pipelines	47.83	$96.803	23.4%	2.8%	6.2%	16.1%	119.4%	87.98	7.98	43.61	125.6%	18.04	1.57	B
Capital Power Corp.	CPX	Electric	30.61	$3.424	10.0%	10.5%	6.3%	7.2%	63.7%	87.26	9.2	219.69	44.9%	15.8	1.05	B
Suncor Energy Inc.	SU	Oil & Gas	39.8	$61.914	-5.4%	3.6%	3.9%	11.5%	43.2%	39.43	12.59	8.12	-	11.17	1.36	B
National Bank of Canada	NA	Banks	67.48	$22.655	18.1%	9.9%	4.0%	7.2%	42.0%	268.37	17.84	0.74	11.5%	10.87	1.86	B
Canadian Western Bank	CWB	Banks	33.35	$2.908	11.6%	0.8%	3.4%	6.7%	35.5%	13.33	10.97	4.68	-6.8%	10.69	1.15	B
Toronto-Dominion Bank/The	TD	Banks	74.6	$135.760	7.1%	10.8%	4.0%	9.5%	44.8%	176.92	15.11	3.54	12.5%	11.3	1.68	B
Pembina Pipeline Corp.	PPL	Pipelines	46.84	$23.959	11.4%	4.7%	5.1%	6.5%	75.7%	52.33	13.09	24.14	46.6%	15.27	1.95	B
Bank of Montreal	BMO	Banks	97.71	$62.431	1.6%	7.8%	4.2%	5.6%	42.2%	223.65	14.12	5.97	7.6%	10.62	1.37	B
Atco Ltd.	ACO.X	Electric	47.41	$5.435	32.0%	2.7%	3.4%	13.8%	34.5%	147.45	14.07	34.84	26.7%	11.34	1.42	B
IGM Financial Inc.	IGM	Diversified Financial Services	37.29	$8.885	24.0%	2.8%	6.0%	0.9%	74.0%	40.2	16.68	12.31	-0.2%	11.68	2.01	B
PrairieSky Royalty Ltd.	PSK	Oil & Gas	15.18	$3.543	-25.8%	-12.7%	5.1%	13.0%	173.3%	0.23	4.04	16.46	8.0%	33.42	1.37	B
Canadian Utilities Ltd.	CU	Electric	38.65	$10.546	33.0%	3.1%	4.4%	9.7%	49.3%	159.71	18.77	121.22	21.7%	12.17	2.11	B
TransAlta Renewables Inc.	RNW	Energy-Alternate Sources	14.13	$3.740	36.8%	10.4%	6.7%	4.2%	116.0%	38.9	9.24	11.66	6.6%	19.59	1.61	B
TFI International Inc.	TFII	Transportation	42.01	$3.467	3.7%	11.3%	2.3%	10.6%	24.1%	101.26	21.39	12.08	21.3%	12.28	2.37	B
Sun Life Financial Inc.	SLF	Insurance	58.82	$34.765	28.4%	12.4%	3.6%	7.3%	50.9%	17.66	11.16	9.92	4.6%	14.96	1.61	B
Keyera Corp.	KEY	Pipelines	30.33	$6.494	-4.6%	-3.9%	6.3%	8.0%	83.3%	85.51	16.54	-	25.0%	16.65	2.25	B
Gildan Activewear Inc.	GIL	Apparel	35.07	$7.143	-9.4%	2.3%	2.0%	24.0%	34.4%	34.55	15.66	19.89	12.8%	15.72	2.84	B
Bank of Nova Scotia	BNS	Banks	75.09	$91.641	13.7%	6.5%	4.8%	6.4%	51.7%	205.44	13.17	46.24	6.8%	10.51	1.44	B
Canadian Tire Corp. Ltd.	CTC.A	Retail	143.59	$9.081	-0.9%	4.6%	2.9%	18.4%	35.0%	103.17	17.14	20.87	1.6%	12.95	2.25	B
Thomson Reuters Corp.	TRI	Media	86.85	$43.526	48.7%	19.9%	2.2%	40.1%	291.3%	34.86	38.22	122.76	46.5%	10.6	3.7	B
Tricon Capital Group Inc.	TCN	Diversified Financial Services	10.69	$2.074	6.6%	9.2%	2.6%	3.1%	29.0%	31.42	8.51	-	54.8%	9.71	0.99	B
Inter Pipeline Ltd.	IPL	Pipelines	22.11	$9.183	9.0%	-3.0%	7.7%	5.8%	101.2%	142.72	17.52	-	11.5%	13.18	2.24	B
Husky Energy Inc.	HSE	Oil & Gas	9.52	$9.569	-50.8%	-18.3%	5.3%	0.0%	45.1%	29.3	7.75	-	-	11.42	0.47	B
Linamar Corp.	LNR	Auto Parts & Equipment	43.3	$2.825	-17.8%	-4.8%	1.1%	4.8%	6.1%	65.43	13.97	6.65	10.6%	5.32	0.7	B
TELUS Corp.	T	Telecommunications	45.78	$27.552	6.1%	7.6%	4.9%	8.4%	74.8%	137.33	17.29	24.56	5.0%	17.25	2.64	C
Algonquin Power & Utilities Corp.	AQN	Energy-Alternate Sources	18.24	$9.477	42.9%	20.9%	4.1%	15.3%	76.2%	82.62	11.17	57.36	29.8%	24.16	2.18	C
BCE Inc.	BCE	Telecommunications	61.06	$54.959	22.9%	10.1%	5.2%	5.2%	95.2%	117.96	17.96	15.2	3.0%	17.3	3.43	C
Quebecor Inc.	QBR.B	Media	30.19	$7.742	14.7%	17.0%	1.5%	46.3%	13.0%	1,142.50	367	10.35	38.3%	17.1	9.99	C
Cogeco Communications Inc.	CCA	Media	106.95	$5.293	65.5%	14.8%	2.0%	11.8%	34.3%	165.59	19.34	13.55	10.4%	16.07	2.42	C
Nutrien Ltd.	NTR	Chemicals	63.3	$36.262	-1.3%	-	3.8%	0.0%	545.2%	37.76	13.02	30.21	41.2%	18.71	1.19	C
Royal Bank of Canada	RY	Banks	106.27	$152.450	16.2%	10.1%	4.0%	7.5%	45.6%	310.41	17.16	-	7.7%	11.99	1.98	C
Emera Inc.	EMA	Electric	55.76	$13.411	44.9%	14.0%	4.4%	10.1%	72.1%	198.58	10.7	-	20.4%	18.79	1.81	C
Vermilion Energy Inc.	VET	Oil & Gas	20.37	$3.161	-39.8%	-15.9%	13.5%	1.7%	112.2%	68.48	13.16	39.99	-	26.68	1.18	C
Maple Leaf Foods Inc.	MFI	Food	29.92	$3.725	-8.3%	10.2%	1.9%	28.7%	84.6%	19.11	4.12	55	34.6%	21.39	1.87	C
Shaw Communications Inc.	SJR.B	Media	25.04	$12.943	7.4%	2.3%	4.7%	2.0%	77.0%	72.88	13.28	30.51	-58.8%	16.57	2.17	C
Metro Inc.	MRU	Food	55.3	$14.072	36.9%	18.1%	1.4%	15.9%	29.5%	46.74	12.12	36.77	50.3%	20.5	2.37	C
Brookfield Asset Management Inc.	BAM.A	Private Equity	70.45	$70.071	35.6%	17.1%	1.2%	11.5%	21.3%	125.68	11.27	17.5	15.3%	11.47	1.94	C
Parkland Fuel Corp.	PKI	Oil & Gas	44.77	$6.593	7.6%	21.5%	2.7%	2.4%	54.9%	125.65	17.73	11.05	73.4%	16.73	3.68	C
Northland Power Inc.	NPI	Electric	26.07	$5.046	30.9%	14.7%	4.6%	2.1%	73.6%	485.18	41.6	45.14	524.3%	20.15	5.95	C
CCL Industries Inc.	CCL.B	Packaging & Containers	52.9	$9.451	2.8%	19.3%	1.3%	25.8%	22.7%	93.21	18.3	25.49	16.5%	19.43	3.44	C
Alimentation Couche-Tard Inc.	ATD.B	Retail	39.53	$44.561	30.2%	16.4%	0.6%	25.6%	10.1%	75.71	22.23	16.53	15.5%	17.57	3.59	C
Canadian National Railway Co	CNR	Transportation	117.1	$84.394	10.1%	10.4%	1.8%	16.5%	33.5%	71.25	24.85	38.12	7.0%	19.59	4.51	C
TC Energy Corp.	TRP	Pipelines	67.55	$63.010	40.6%	9.1%	4.4%	9.1%	63.7%	162.1	16.83	#N/A N/A	-	16.53	2.41	C
Rogers Communications Inc.	RCI.B	Telecommunications	61.03	$31.461	-8.4%	10.7%	3.3%	1.8%	49.1%	202.29	23.83	19.74	15.3%	14.06	3.2	C
Onex Corp.	ONEX	Private Equity	77.39	$7.749	-8.6%	5.0%	0.5%	16.5%	0.7%	396.38	82.44	-	-	3.57	0.88	C
Enghouse Systems Ltd.	ENGH	Software	36.81	$2.013	3.4%	16.1%	1.2%	17.3%	39.3%	0.46	18.29	24.85	22.5%	30.93	5.35	C
Stella-Jones Inc.	SJ	Building Materials	37.9	$2.620	-11.4%	4.1%	1.5%	15.7%	24.4%	40.07	11.79	135.23	-0.9%	17.45	2	C
Toromont Industries Ltd.	TIH	Machinery-Diversified	65.79	$5.367	9.6%	22.5%	1.6%	12.4%	30.4%	48.62	20.91	105.46	20.0%	24	3.91	C
First Capital Realty Inc.	FCR	REITS	21.97	$4.813	19.4%	8.2%	3.9%	0.4%	63.2%	87.61	7.57	121.81	19.0%	22.27	1.13	C
Fortis Inc.	FTS	Electric	54.39	$23.755	28.9%	13.2%	3.5%	7.1%	48.6%	134.3	10.44	-	13.1%	21.6	1.52	C
Fairfax Financial Holdings Ltd.	FFH	Insurance	550.47	$15.972	-7.5%	3.8%	2.4%	3.9%	32.9%	37.32	6.78	109.44	-12.8%	25.92	0.92	D
Canadian Pacific Railway Ltd.	CP	Transportation	287.11	$39.478	18.0%	6.4%	1.2%	16.2%	17.9%	131.04	32.36	32.93	13.0%	18.42	5.71	D
Intact Financial Corp.	IFC	Insurance	133.92	$19.149	36.3%	15.3%	2.3%	9.7%	56.2%	28.28	10.56	21.61	0.1%	31.88	2.67	D
Constellation Software Inc.	CSU	Software	1290.94	$27.357	55.9%	36.2%	0.4%	49.0%	21.0%	42.54	65.81	33.8	28.9%	56.71	37.42	D
Gibson Energy Inc.	GEI	Pipelines	22.96	$3.340	14.3%	-0.1%	5.7%	2.4%	130.7%	163.69	14.75	24.47	-	20.39	4.34	D
Stantec Inc.	STN	Engineering & Construction	28.53	$3.187	-14.3%	-3.2%	2.0%	9.7%	37.2%	48.92	3.41	57.42	-32.8%	21.02	1.71	D
Saputo Inc.	SAP	Food	38.02	$15.500	-4.4%	5.2%	1.8%	7.0%	34.4%	44.23	14.67	28.19	7.9%	23.57	2.76	D
TMX Group Ltd.	X	Diversified Financial Services	114.3	$6.420	48.0%	20.1%	2.2%	8.8%	50.9%	31.53	7.89	26.72	-	24.44	1.87	D
Superior Plus Corp.	SPB	Retail	12.66	$2.214	13.0%	5.9%	5.7%	3.7%	553.9%	170.25	3.88	-	-	33.35	2	D
Finning International Inc.	FTT	Hand/Machine Tools	21.85	$3.568	-18.2%	-2.4%	3.8%	4.2%	67.7%	71.74	9.4	-	-	13.72	1.75	D
Open Text Corp.	OTEX	Software	51.65	$13.937	21.5%	13.7%	1.8%	19.9%	59.4%	67.31	7.51	13.23	0.1%	33.93	2.78	D
Premium Brands Holdings Corp.	PBH	Food	92.12	$3.447	1.9%	34.4%	2.3%	10.4%	70.7%	140.22	7.55	60.28	103.1%	30.4	3.15	D
Ritchie Bros Auctioneers Inc.	RBA	Commercial Services	52.05	$5.613	28.4%	17.1%	2.0%	11.5%	60.5%	87.4	16.04	24.18	-3.7%	33.84	5.22	D
CI Financial Corp.	CIX	Diversified Financial Services	19.06	$4.548	6.1%	-5.6%	3.8%	-9.1%	37.6%	104.94	33.71	7.84	3.7%	8.58	2.97	D
Restaurant Brands International Inc.	QSR	Retail	88.78	$41.197	27.2%	-	3.0%	0.0%	84.8%	335.54	29.16	13.68	17.7%	29.07	9.37	D
Encana Corp.	ECA	Oil & Gas	5.33	$6.924	-59.6%	-22.7%	1.9%	-20.9%	5.7%	56.37	14.05	7.49	-	4.87	0.55	D
Loblaw Cos. Ltd.	L	Food	69.85	$25.425	33.6%	10.5%	1.8%	4.7%	65.2%	73.88	6.99	14.57	8.6%	21.35	2.29	D
CAE Inc.	CAE	Aerospace/Defense	32.94	$8.769	44.2%	19.3%	1.3%	10.4%	33.3%	96.61	14.22	893.08	12.8%	27.32	3.85	D
Empire Co Ltd.	EMP.A	Food	34.45	$9.351	48.7%	8.0%	1.4%	5.4%	29.0%	49.5	11.41	15.88	-	23.14	2.58	D
WSP Global Inc.	WSP	Engineering & Construction	81.65	$8.601	27.5%	22.4%	1.8%	0.0%	55.6%	46.12	8.93	13.43	9.5%	26.25	2.62	D
Cott Corp.	BCB	Beverages	16.79	$2.261	-10.1%	20.3%	1.9%	5.0%	600.0%	114.68	-0.39	21.12	197.8%	91.89	1.51	D
WestJet Airlines Ltd.	WJA	Airlines	30.6	$3.539	63.5%	1.9%	1.8%	4.0%	39.4%	85.95	7.25	266.31	-37.1%	23.18	1.54	D
George Weston Ltd.	WN	Food	106.7	$16.418	18.1%	4.9%	2.0%	4.5%	524.4%	119.35	0.26	10.51	4.0%	23.63	2.48	D
Teck Resources Ltd.	TECK.B	Mining	22.04	$12.290	-21.4%	5.2%	0.9%	-19.7%	4.5%	23.98	11.6	19.65	-	6.09	0.5	D
Kirkland Lake Gold Ltd.	KL	Mining	57.54	$12.094	124.3%	87.1%	0.4%	0.0%	6.9%	1.76	27.84	32.61	-	26.2	6.56	D
Franco-Nevada Corp.	FNV	Mining	123.62	$23.167	52.7%	17.3%	1.1%	8.2%	121.3%	4.48	3.16	1,082.10	78.1%	74.68	3.72	D
Cenovus Energy Inc.	CVE	Oil & Gas	11.7	$14.376	6.6%	-14.2%	2.1%	-28.1%	80.0%	52.46	1.56	6.02	-	8.56	0.74	D
Lundin Mining Corp.	LUN	Mining	6.77	$4.972	41.1%	6.4%	1.8%	0.0%	65.5%	0.26	2.7	-	-	38.8	1.03	D
Wheaton Precious Metals Corp.	WPM	Mining	34.4	$15.352	62.3%	11.4%	1.4%	8.9%	38.3%	24.44	-0.51	-	-	69.72	2.36	D
Morneau Shepell Inc.	MSI	Commercial Services	31.6	$2.041	20.0%	18.5%	2.5%	0.0%	866.7%	77.43	1.88	36.28	9.9%	86.62	3.54	D
Barrick Gold Corp.	ABX	Mining	21.63	$38.451	33.1%	9.1%	1.0%	2.2%	5.9%	61.14	-10.39	40.71	-	130.43	1.9	D
Innergex Renewable Energy Inc.	INE	Electric	16.5	$2.205	41.6%	14.8%	4.2%	3.2%	1725.0%	490.73	4.57	-	-	136.56	4.64	D
Norbord Inc.	OSB	Building Materials	36.45	$2.977	18.9%	14.5%	4.4%	-5.6%	442.8%	66.83	9.1	21.19	-	17.62	3.08	D
Cameco Corp.	CCO	Mining	12.19	$4.825	-15.7%	-7.0%	0.7%	-27.5%	21.6%	29.95	3.01	20.99	36.6%	34.47	0.96	F
Waste Connections Inc.	WCN	Environmental Control	120.35	$31.732	29.2%	25.8%	0.7%	0.1%	29.4%	68.22	8.55	27.14	-	41.12	3.65	F
Winpak Ltd.	WPK	Packaging & Containers	46.43	$3.018	-0.5%	11.1%	0.3%	-36.0%	5.2%	0	12.34	27.92	3.2%	20.05	2.33	F
Crescent Point Energy Corp.	CPG	Oil & Gas	5.35	$2.928	-5.9%	-29.5%	0.7%	-57.1%	-	64.67	-27.61	6.36	-	9.5	0.43	F
Agnico Eagle Mines Ltd.	AEM	Mining	70.62	$16.909	59.8%	19.4%	0.9%	5.4%	95.7%	37.87	-5.18	-	-	78.11	2.9	F
First Quantum Minerals Ltd.	FM	Mining	11	$7.583	-6.8%	-10.9%	0.1%	-41.3%	1.4%	72.3	4.13	-	-	13.65	0.58	F

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