Top 100 dividend stocks of 2023

A family looking at the "best dividend stocks in Canada" and are pretty excited.

2023’s best dividend stocks ranked

Note: All figures are accurate as of November 30, 2022.

How to use the best dividends in Canada table

The “MoneySense best dividend stocks for 2023” ranking should be viewed as a starting point for your research of Canadian dividend-paying stocks, not the end. This review of dividend-paying companies that trade on the Toronto Stock Exchange aims to identify those that offer the best investment potential now, based on quantitative factors such as yield, stability and value. You may use this list to narrow the prospective investments worthy of additional research before deciding whether they deserve to be included in your portfolio.

Our ranking does not account for other important qualitative factors, like management or economic risks, that could seriously affect a company’s performance. These are important for making investment decisions for sure, but they require a more second-level analysis best done on a company-by-company basis. By the same token, a low ranking doesn’t necessarily mean a company is a bad investment or is at risk of cutting its payout, either.

If you decide owning dividend stocks is a core element of your investing ideology, you may need to develop a playbook that aligns with your goals and values. One of the key attributes of successful investors is that, regardless of ideology, they have a plan or a process for executing investment decisions and making sure they stick to their playbook. They list the actions they need to take for the various situations and move on those plays when necessary and ideal.

Making an investing playbook can help take out the emotion of making investment decisions. If you believe dividend-paying stocks are an appropriate vehicle for growing your savings, then you would need to develop some kind of methodology for identifying dividend-paying stocks that will have a high probability of delivering a consistent and growing stream of income. The methodology used to identify the top performing dividend stocks in Canada here can provide a foundation for building your playbook. 

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