Best 2013 Canadian Dividend Stocks

For the beginning of the year, I did some research on a lot of stocks and wrote the Best Dividend Stocks for 2013 eBook (you can download it for only $2.99 here). This eBook includes 30 Dividend Growth Stocks (20 US and 10 Canadian) that have been showing very solid dividend metrics.



best 2013 dividend stocks

Last week, I pulled out the Best 2013 US dividend stocks with an impressive list of 96 stocks. This is a lot more than the 20 picks I selected for the best 2013 dividend stocks (30 stock analyses in this book). Unfortunately, the Canadian market is not as deep nor diversified. I have applied the same specific metrics described in Dividend Growth Freedom Through Passive Income. These metrics have been proven to combine both dividend and capital growth for each company. While I pulled 96 US stocks, only 22 made the list from the Canadian market.


Here’s the list of the filters I’ve used to create my list.


Dividend yield over 3%

5 year positive dividend growth

Dividend payout ratio under 75%

Return on equity (ROE) over 10%

5 year positive annual income growth rate

Current price / earnings ratio (PE) under 20

Top 2013 Canadian Stocks


TickerNameDvd YieldDvd 5Y GrowthEPS 5Y GrowthPayout RatioP/EROEIndustry
ADW/AAndrew Peller Ltd3,615,4212,1839,5910,3611,44Beverages-Wine/Spirits
SJR/BShaw Communications Inc4,5612,671,9947,8413,1222,33Cable/Satellite TV
RCI/BRogers Communications Inc3,636,0821,1649,0114,5740,17Cellular Telecom
RYRoyal Bank of Canada4,174,6111,3746,6112,2319,21Commer Banks Non-US
TDToronto-Dominion Bank/The3,766,495,2940,5711,0314,85Commer Banks Non-US
BNSBank of Nova Scotia4,184,7112,6844,3611,8319,38Commer Banks Non-US
CMCanadian Imperial Bank of Commerce/Canada4,743,2163,8747,7410,2622,58Commer Banks Non-US
NANational Bank of Canada4,096,28,3538,368,6722,46Commer Banks Non-US
LBLaurentian Bank of Canada4,249,675,6633,698,710,7Commer Banks Non-US
CTYCalian Technologies Ltd5,4220,3410,9356,6911,2821,61Consulting Services
EMAEmera Inc4,018,6515,2265,8218,514,44Electric-Integrated
ACDAccord Financial Corp4,66,7522,435,199,5214,67Finance-Commercial
ETEvertz Technologies Ltd3,7560,955,5462,5816,4117,56Industr Audio&Video Prod
GWOGreat-West Lifeco Inc5,323,7114,5757,8110,9617,24Life/Health Insurance
PWFPower Financial Corp5,344,666,7959,7311,1915,16Life/Health Insurance
POWPower Corp of Canada4,75,7416,6152,6711,4411,62Life/Health Insurance
CJR/BCorus Entertainment Inc4,213,450,1752,5612,713,68Multimedia
CUF-UCominar Real Estate Investment Trust6,162,5929,5852,649,6812,12REITS-Diversified
AP-UAllied Properties Real Estate Investment Trust4,151,1586,9639,1910,4714,07REITS-Office Property
BDIBlack Diamond Group Ltd3,526,1981,1649,8516,6616,96Rental Auto/Equipment
BCEBCE Inc5,298,7722,0571,0313,5823,1Telecom Services
TTELUS Corp3,799,676,3658,6516,9815,73Telecom Services


Out of 22 stocks, 45% come from the financial services sector (6 Canadian Banks and 4 Insurance/Investment holding companies). Let’s just say that you can’t really build a complete dividend portfolio by using this list! Choosing Canadian banks seems like a no brainer but while they pay a healthy dividend, the Canadian housing market should remain a concern for 2013. I also found some interesting picks with Andrew Peller and Emera (which I recently covered on The Dividend Guy Blog).



They Are Not Stock Pick Recommendations


I have done a lot of research to produce this list of stocks (and even more to write my book for 2013!) but they cannot be used as stock recommendations alone. I truly believe in creating a proper mix of asset allocation for your own portfolio. The other thing is when I look at my 2012 results, I had 1 stock that didn’t do well out of 9 (IMG). I know that my Canadian portfolio beat the index by more than 6% but still, I’m not a professional and I am not giving stock picking recommendations.



Among the 22 stocks on this list, I’ve picked 10 companies for my Best Dividend Stocks for 2013:


Andrew Peller – ADW.A

Black Diamond Group – BDI

Calian Technologies – CTY

Emera – EMA

Evertz Technologies – ET

National Bank – NA

Rogers Communications –RCI.B

Power Corporation – POW

Royal Bank – RY

Telus – T


I hope to beat the market by 6% again this year ;-D


If You Are Looking For The First Canadian Dividend Book – Here it Is:


Dividend Growth eBook


Disclaimer: I hold NA & T

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  1. Michel says

    Happy New Year Mike. I really like your Best Dividend Stocks for 2013 e-book. Good work and thank you! My opinion is your list should do better than the index, but my favorite bank is TD followed by Scotia. I’ve had EMA for a long time and I like it a lot. POW, I’ve had for too long! Maybe this year will be good for Power Financial.

  2. says

    Thanks for putting together the list Mike. I’m glad I already have some of those companies, mostly in the financial sector, but am interested now in ADW and EMA 😀

  3. jd says

    Buying BDI a couple of years ago (in the $8.50 range, split-adjusted), has been one of my best stock picks. Looking forward to another good year from them. 😀

    I already own a number of other stocks in your list, but may have a look at ET and ADW.

  4. Paul N says

    Hi Jeremy,

    Thanks for your list and your hard work all year. I was reading an article in a recent “Money” magazine (US publication).
    There was an article that one writer wrote about dividend stocks not really being any better then other good quality growth stocks for example. He brought up a point that at the dividend payout date the stocks value drops equal to the dividend payout.
    So he felt people don’t really see this and focus on only the dividend and ignore that small share price drop. I just wondered if you have ever touched on that in one of your past posts?

    If your interested I could probably scan the article and e-mail it to you. It’s not with me at work today…


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