As we head into the fourth quarter, the Canadian TSX has shown resilience with a strong performance earlier in the year, despite recent volatility driven by uncertainties in global politics and economic conditions. In this environment, dividend stocks can offer investors a measure of stability and income, making them an attractive option for those navigating market fluctuations.

Top 10 Dividend Stocks In Canada

Click here to see the full list of 30 stocks from our Top TSX Dividend Stocks screener.

Let's dive into some prime choices out of the screener.

Enghouse Systems

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

Overview: Enghouse Systems Limited, along with its subsidiaries, develops enterprise software solutions globally and has a market cap of CA$1.75 billion.

Operations: Enghouse Systems Limited generates revenue from its Asset Management Group, which contributed CA$187.17 million, and its Interactive Management Group, which brought in CA$312.77 million.

Dividend Yield: 3.3%

Enghouse Systems offers a stable dividend history with a payout ratio of 66%, indicating coverage by earnings, and a cash payout ratio of 45.4%, suggesting strong cash flow support. The company recently affirmed its quarterly dividend of CAD 0.26 per share, maintaining reliability over the past decade. Despite trading at good value relative to peers and industry, its yield of 3.27% is lower than the top Canadian dividend payers' average of 5.93%.

• Delve into the full analysis dividend report here for a deeper understanding of Enghouse Systems.

• The analysis detailed in our Enghouse Systems valuation report hints at an deflated share price compared to its estimated value.

High Liner Foods

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

Overview: High Liner Foods Incorporated processes and markets frozen seafood products in North America, with a market cap of CA$387.09 million.

Operations: High Liner Foods Incorporated generates revenue of $992.12 million from the manufacturing and marketing of prepared and packaged frozen seafood in North America.

Dividend Yield: 4.4%

High Liner Foods has a low cash payout ratio of 8.3%, ensuring dividends are well-covered by cash flows, and a payout ratio of 30.2% covered by earnings. However, its dividend history is volatile and unreliable over the past decade. Recent earnings show improved profitability with net income rising to US$19.29 million in Q2 2024 from US$5.89 million a year ago, despite declining sales figures, reflecting potential financial resilience amidst challenges.

• Dive into the specifics of High Liner Foods here with our thorough dividend report.

• Upon reviewing our latest valuation report, High Liner Foods' share price might be too pessimistic.

Olympia Financial Group

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

Overview: Olympia Financial Group Inc., with a market cap of CA$238.28 million, operates in Canada as a non-deposit taking trust company through its subsidiary, Olympia Trust Company.

Operations: Olympia Financial Group Inc.'s revenue segments include Health (CA$10.21 million), Corporate (CA$0.13 million), Exempt Edge (EE) (CA$1.41 million), Investment Account Services (IAS) (CA$79.02 million), Currency and Global Payments (CGP) (CA$8.43 million), and Corporate and Shareholder Services (CSS) (CA$3.98 million).

Dividend Yield: 7.1%

Olympia Financial Group offers a dividend yield of 7.11%, ranking it among the top Canadian payers, yet its dividend history is marked by volatility over the past decade. The company's payout ratios are sustainable, with earnings coverage at 68.1% and cash flow coverage at 72.7%. Despite recent affirmations of a CAD 0.60 monthly dividend, earnings are projected to decline by an average of 10.4% annually over the next three years, impacting future stability.

• Click to explore a detailed breakdown of our findings in Olympia Financial Group's dividend report.

• In light of our recent valuation report, it seems possible that Olympia Financial Group is trading behind its estimated value.

Where To Now?

• Gain an insight into the universe of 30 Top TSX Dividend Stocks by clicking here.

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Looking For Alternative Opportunities?

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• 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:ENGH TSX:HLF and TSX:OLY.

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