Safe Dividend Stocks on the TSX: Covered Yields Above 3%

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A dividend is only as safe as the profits and balance sheet behind it. A low payout ratio leaves room to keep paying through a bad year, and low debt means lenders do not come first. This screen lists stocks on the Toronto Stock Exchange yielding more than 3% with a payout ratio below 60%, positive earnings and a debt-to-equity ratio below 1, highest yield first. Prices are in Canadian dollars, and the list covers TSX-listed stocks with at least C$1 million in average daily trading value.

Screening formula:
exch(tsx) and type(stock) and advol(21) > 1 and dvd_yield > 3 and dpr > 0 and dpr < 60 and debt_equity_ratio < 1 and eps > 0 and sortby(dvd_yield, desc) and show(dvd_yield as yield_pct, dpr as payout_pct)

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Charts

Symbol	Name	Industry	Sector	Exchange	Cap	Cap, mln	Last	Change	Change, %	Volume	Yield_pct	Payout_pct
FFN.TO	North American Financial 15 Split Corp Cl A	Asset Management	Financial Services	TSX	Small	636.78	9.11	0.08	0.89	76,848	13.83	25.93
BK.TO	Canadian Banc Corp	Asset Management	Financial Services	TSX	Small	835.57	15.15	-0.43	-2.76	1,321,671	13.35	27.24
FTN.TO	Financial 15 Split Corp Cl A	Asset Management	Financial Services	TSX	Small	850.62	10.98	0	0	42,392	12.92	27.12
LBS.TO	Life & Banc Split Corp	Asset Management	Financial Services	TSX	Small	1,513.26	12.50	0.34	2.8	144,355	8.64	13.49
PXT.TO	Parex Resources Inc	Oil & Gas E&P	Energy	TSX	Mid	2,618.99	28.10	0	0	344,232	5.66	18.73
PEY.TO	Peyto Exploration & Development Corp	Oil & Gas E&P	Energy	TSX	Mid	4,991.84	24.99	-0.02	-0.08	754,732	5.64	57.56
WJX.TO	Wajax Corp	Industrial Distribution	Industrials	TSX	Small	783.21	38.28	1.23	3.32	57,934	3.89	47.62
AGF-B.TO	AGF Management Ltd	Asset Management	Financial Services	TSX	Small	955.07	15.33	0.12	0.79	217,125	3.51	24.88
CNQ.TO	Canadian Natural Resources Ltd	Oil & Gas E&P	Energy	TSX	Large	145,954	73.75	-0.08	-0.11	3,549,209	3.47	43.69
TCW.TO	Trican Well Service Ltd	Oil & Gas Equipment & Services	Energy	TSX	Small	1,339.74	6.34	-0.05	-0.78	339,695	3.44	51.16
HWX.TO	Headwater Exploration Inc	Oil & Gas E&P	Energy	TSX	Mid	3,319.17	14.26	-0.04	-0.28	1,302,470	3.30	58.97
NTR.TO	Nutrien Ltd	Agricultural Inputs	Basic Materials	TSX	Large	45,970	98.77	-0.71	-0.71	2,306,560	3.19	44.95
EDV.TO	Endeavour Mining Plc	Gold	Basic Materials	TSX	Large	18,643	78.60	4.16	5.59	337,507	3.17	52.13
MFC.TO	Manulife Financial Corp	Insurance - Life	Financial Services	TSX	Large	100,168	62.16	0.73	1.19	1,842,953	3.12	51.22
NWC.TO	North West Co Inc	Grocery Stores	Consumer Defensive	TSX	Mid	2,594.93	56.27	0.78	1.41	176,189	3.01	57.29

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Data as of Oct 15, 2026, 4:00 PM EDT

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