As the Canadian market navigates through the complexities of potential tariffs and political uncertainty, investors are increasingly adopting a defensive stance, with the TSX showing modest gains. In such an environment, dividend stocks can offer stability and income potential, making them an attractive option for those looking to enhance their portfolios amidst market volatility.

Top 10 Dividend Stocks In Canada

Click here to see the full list of 25 stocks from our Top TSX Dividend Stocks screener.

Below we spotlight a couple of our favorites from our exclusive screener.

Bank of Montreal

Simply Wall St Dividend Rating: ★★★★★☆

Overview: Bank of Montreal offers diversified financial services mainly in North America and has a market cap of approximately CA$100.07 billion.

Operations: Bank of Montreal's revenue is primarily derived from Canadian Personal and Commercial Banking at CA$9.82 billion, U.S. Personal and Commercial Banking at CA$8.20 billion, BMO Capital Markets at CA$6.56 billion, and BMO Wealth Management at CA$5.89 billion.

Dividend Yield: 4.6%

Bank of Montreal offers a reliable dividend yield of 4.56%, though it is lower than the top 25% of Canadian dividend payers. The bank's dividends have been stable and growing over the past decade, supported by a sustainable payout ratio currently at 58.3%, with future coverage expected to improve to 49.9%. Recent fixed-income offerings, including $14.65 million in senior unsecured notes, reflect its ongoing financial strategies amidst shareholder proposals on lobbying disclosures and executive compensation transparency.

• Unlock comprehensive insights into our analysis of Bank of Montreal stock in this dividend report.
• Our valuation report here indicates Bank of Montreal may be undervalued.

Evertz Technologies

Simply Wall St Dividend Rating: ★★★★★☆

Overview: Evertz Technologies Limited designs, manufactures, and distributes video and audio infrastructure solutions for production, post-production, broadcast, and telecommunications markets globally with a market cap of CA$851.30 million.

Operations: Evertz Technologies Limited generates revenue primarily from its Television Broadcast Equipment Market segment, which accounts for CA$496.59 million.

Dividend Yield: 6.9%

Evertz Technologies offers a dividend yield in the top 25% of Canadian stocks, with payments covered by both earnings and cash flows, indicated by a payout ratio of 24.7% and cash payout ratio of 64.6%. Despite this, its dividend history is marked by volatility over the past decade. Recent earnings show modest growth in net income to C$20.92 million for Q3 2025, supporting their C$0.20 quarterly dividend payment scheduled for March 20, 2025.

• Delve into the full analysis dividend report here for a deeper understanding of Evertz Technologies.
• Upon reviewing our latest valuation report, Evertz Technologies' share price might be too pessimistic.

Hemisphere Energy

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: Hemisphere Energy Corporation is involved in the acquisition, exploration, development, and production of petroleum and natural gas interests in Canada with a market cap of CA$168 million.

Operations: Hemisphere Energy Corporation generates revenue of CA$78.57 million from its petroleum and natural gas interests in Canada.

Dividend Yield: 8.9%

Hemisphere Energy's dividend yield ranks in the top 25% of Canadian stocks, supported by a low payout ratio of 33.2% and a cash payout ratio of 57.4%. Despite its brief three-year dividend history, payments have been stable and growing with little volatility. The company plans to use its estimated C$34 million free funds flow for dividends, acquisitions, and potential special dividends or share buybacks, enhancing shareholder value amid expected earnings declines.

• Click here and access our complete dividend analysis report to understand the dynamics of Hemisphere Energy.
• The valuation report we've compiled suggests that Hemisphere Energy's current price could be quite moderate.

Taking Advantage

• Get an in-depth perspective on all 25 Top TSX Dividend Stocks by using our screener here.
• Got skin in the game with these stocks? Elevate how you manage them by using Simply Wall St's portfolio, where intuitive tools await to help optimize your investment outcomes.
• Discover a world of investment opportunities with Simply Wall St's free app and access unparalleled stock analysis across all markets.

Want To Explore Some Alternatives?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include TSX:BMO TSX:ET and TSXV:HME.

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