Top Dividend Stocks in Canada – October 2018

10 shares, 45 points

List of my top Canadian dividend stocks for the current month of October 2018.

 CIBC (Canadian Imperial Bank of Commerce) – Dividend

cibc dividendCIBC ticker symbol CM is one of the big banks in Canada and as such is one of the safest investments one can make in terms of dividend investing. The dividend is solid at 4.7% and the dividend looks secure with a good payout ratio at 46%. CIBC also has a great track record of paying a dividend and also increasing that dividend consistently.

Dividend Yield


Payout Ratio


  • Current Dividend Yield: 4.7%
  • Payout Ratio: 46%
  • Has Paid Dividend uninterrupted for past 10yrs
  • Has Increased Dividend consistently over past 10yrs

Laurentian Bank of Canada – Dividend

laurentian bank dividend

Laurentian Bank ticker symbol LB is not one of the big four Canadian banks, but that does not mean it is not a good investment. Laurentian Bank is a regional bank that is mostly in Quebec but also has some branches in other provinces. LB is a reliable and sustainable dividend payer that would be good in the vast majority of dividend investor portfolios.

Laurentian Bank stock price has taken a hit recently and it has the potential for a good amount of capital appreciation going forward. I think the current stock price is a great entry point for this solid dividend payer.

Dividend Yield


Payout Ratio


  • Current Dividend yield 6.3%
  • Payout Ratio 47%
  • Uninterrupted dividend payments over past 10yrs
  • Consistent dividend increases over past 10yrs

Fortis – Dividend

Fortis Dividend

Fortis ticker symbol FTS is not perhaps a perfect fit for everyone’s portfolio, but if you are a dividend investor Fortis offers a solid dividend yield currently of 4.14%, it is a stable and increasing dividend and is safe in terms of payout ratio.  For a breakdown of Fortis stock check out Fortis Stock Analysis

Dividend Yield


Payout Ratio


  • Current Dividend yield 4.14%
  • Payout Ratio 72%
  • Uninterrupted dividend payments over past 10yrs
  • Consistent dividend increases over past 10yrs

Bank of Nova Scotia – Dividend

Bank of Nova Scotia

Bank of Nova Scotia ticker symbol BNS is one of the “big four” banks in Canada.  Much like CIBC Scotiabank is a safe and reliable dividend stock that is a safe bet for virtually any portfolio.  With the current stock price which has declined this past week, it is a good entry point and nets you a nice dividend yield.

Dividend Yield


Payout Ratio


  • Current Dividend Yield 4.74%
  • Payout Ratio 47%
  • Uninterrupted dividend payments over past 10yrs
  • Consistent dividend increases over past 10yrs



This is not financial advice and all financial investments carry risks. Investors should seek financial advice from professionals before making any investment. I wrote this article myself and it expresses my opinions. I have no business agreement with any company mentioned in this article.

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