Canadian dividend stocks are the cream of the crop.  No matter what reasoning you here (from “it’s a fluke” to “it’s just because of the stable banking sector”), the Canadian stock market is set to continue to outperform over the next decade.

Here’s a list of some of the best Canadian dividend stocks – including the coveted tickers of the best Canadian banks and some of the world famous Canadian oil and gas stocks.  Keep in mind that Canada’s stock market is composed of over 60% energy and materials stocks (i.e., gold, oil, silver and metals), as you can see in this complete list of stocks on the TSX.

Canadian Dividend Stock List

.
Canadian dividend stocks are plentiful, so this list will just outline some of the best.  These are the dividend stocks most frequently traded and held by top Canadian analysts.  They’re also the ones most likely to make it into Canadian pension funds and Canadian market mutual funds.  I’ve listed them here with their current yields, in alphabetical order.

The yields will fluctuate over time, of course, but this still gives you a good idea of what range of payers you’re looking at.  Canadian gold mining stocks and agriculture stocks will always have scantier yields.  Whereas the 4.99% yield on BCE right now is actually reflecting that BCE may be slightly overbought.

Barrick Gold (TSX: ABX) – 1.01%- Gold stock.
Agnico-Eagle Mines (TSX: AEM) – 0.87% – Gold stock.
Arc Energy Trust (TSX: ARX) – 4.78% – Oil and gas.
Agrium (TSX: AGU) – 0.12% – agriculture.
Brookfield Asset Management (TSX: BAM.A) – 1.59% – Financials.
BCE Inc. (TSX: BCE) – 4.99% – Mega telecom.
Bank of Montreal (TSX: BMO) – 4.69% – Big 5 bank.
Bank of Nova Scotia (TSX: BNS) – 3.31% Big 5 bank.
Cameco (TSX: CCO) – 0.68% – Mega uranium.
CIBC (TSX: CM) – 4.42% – Big 5 bank.
Canadian Natural Resources (TSX: CNQ) – 0.69% – oil and gas.
Canadian National Railway (TSX: CNR) – 1.89% – Infrastructure.
Canadian Oil Sands (TSX: COS) – 2.82% – Oil Sands.
Canadian Pacific Railway (TSX: CP) – 1.61% – Infrastructure.
Canadian Tire (TSX: CTC.A) – 1.65% – Consumer discretionary, home hardware.
EnCana (TSX: ECA) – 2.58% – natural gas.
Enbridge (TSX: ENB) – 3.4% – oil, gas, home energy.
Enerplus Corp (TSX: ERF) – 6.86% – oil and gas.
Fortis (TSX: FTS) – 3.32% – varied: hotels, real estate, electricity.
Goldcorp (TSX: G) – 0.84% – Gold.
Inmet Mining (TSX: IMN) – 0.25% – Mining.
Imperial Oil (TSX: IMO) – 0.99% – Oil and gas.
Kinross Gold (TSX: K) – 0.61% – Gold
Loblaw Companies (TSX: L) – 2.13% – Groceries.
Manulife (TSX: MFC) – 2.71% – Life insurance, financials.
Magna Int’l (TSX: MG) – 1.29% – Car parts maker.
Metro (TSX: MRU.A) – 1.81% – Groceries.
National Bank (TSX: NA) – 3.67% – Big 6 Bank.
Nexen Inc. (TSX: NXY) – 0.84% – Energy.
Potash Corp. (TSX: POT) – 0.15% – Agriculture.
Power Corp. of Canada (TSX: POW) – 4.09% – Mega financial.
Penn West Petroleum Ltd. (TSX: PWT) – 4.16% – Oil and gas.
Rogers Comm. (TSX: RCI.B) – 3.63% – Telecom.
Royal Bank of Canada (TSX: RBC) – 3.66% – Big 5 bank.
Saputo (TSX: SAP) – 1.59% – Food.  Especially cheese.
Shoppers Drug Mart (TSX: SC) – 2.34% – Canadian version of CVS.
Shaw Communications (TSX: SJR.B) – 4.03% – Telecom.
Sunlife Financial (TSX: SLF) – 4.27% – Life insurance.
SNC Lavalin (TSX: SNC) – 1.1% – Engineering.
Suncor (TSX: SU) – 0.99% – Oil and gas.  Oil sands.
Telus (TSX: T) – 4.3% – Telecom.
Toronto Dominion Bank (TSX: TD) – 3.12% – Big 5 bank.

There are others, obviously, but I left them out either because they aren’t recommended as often or the yields were too low, or they represented too much of a duplicate of what was already on here.  Also: junior stocks on the TSX-V are not listed here, obviously, either – they don’t pay dividends.  If you’re after juniors, check out a more complete list of Canadian silver stocks.

Then see the more complete list of Canadian mining stocks and my advice on finding the highest dividend stocks and how to tell if the yield is safe.  If I’ve left something out, let me know.

Outlook for Canadian Dividend Stocks

.
Canadian dividend stocks should do well over the next cycle, especially as inflation starts to grow in developed countries.  Investors will be seeking opportunities for keeping pace with inflation – and choosing some good dividend growth stocks is always a wise bet.

Canada is still a wise place to keep your money.  Even Canadians are being advised that now is a good time to keep more money at home rather than abroad.  With continued demand for resources from emerging markets, and a conservative, well-regulated banking sector, Canada is expected to keep attracting record flows of foreign investment.

When you’re done with this list of Canadian dividend stocks, don’t forget to do some further research into Canada’s largest stocks.

If you found this article helpful, please share it on sites like Twitter, StumbleUpon or Reddit.  Also, please grab the RSS feed for free updates and get investment info delivered right to your reader or by email!  Note: Articles may NOT be duplicated, either in full OR part, without prior permission. Instead, link directly to it.

• Which Canadian Bank Will Be the First To Start Raising Its Dividend Again
• Americans: Five High-Yield Canadian Investments You Don't Want To Miss
• Top 10 Canadian Dividend-Paying Multinationals
• Canadian Stocks Top Picks August 2010
• Best Canadian Oil Stocks 2009-2010

• Dividend Portfolio Review
• Ben Stein Not Hot On Real Estate
• Time To Bail On PetroChina?
• Canadian Paper Money
• Gartman Gives Up On Commodities

Tagged as: Barrick, Canada, Canadian, Canadian dividend stocks, Canadian oil sands, Canadian stocks, Cenovus, Crescent Point Energy, dividend growth stocks, dividend stocks, dividends, Encana, energy, gold, Goldcorp, Imperial Oil, Kinross, list, materials, mining, oil, oil price, oil sands, silver, stock market, Suncor, Talisman, Teck, Trans Canada, TSX