Fintel research highlights five Canadian stocks whose dividends may offer what today’s investor seeks.<\/p>\n
The dividend score combines a stock’s dividend yield and growth rate to generate a score of up to 100, based on its ranking against screened peers.<\/p>\n
Canadian Energy and Mining stocks have predominantly dominated the leaderboard as they have benefitted from rising commodity prices.<\/strong><\/p>\n Disposable paper product manufacturer Westbond Enterprises (CA:WBE) with a score of 88.52<\/strong> ranks as the 5th best Canadian dividend rated stock. Westbond pays a current dividend yield of 5.88%.<\/p>\n This microcap company is valued at only CAD$12.14 million by market capitalization after losing more than two thirds of its value as the share price cooled after booming during the pandemic over 2021.<\/p>\n The company has generated a net profit for every quarter over the last two years. At its most recent result for the June quarter, the microcap reported CAD$415K in net profits compared to CAD$70K in the prior year.<\/p>\n Canadian oil and gas royalty company, Freehold Royalties (CA:FRU) ranks in fourth place with a score of 89.98<\/strong>. The royalty company pays an annual dividend yield of 7.35% and has grown dividends over the past few years.<\/p>\n Freehold pays dividends from a high-netback portfolio of mineral titles and royalties on oil and gas properties across North America.<\/p>\n On a two year view, the royalty stock has grown giviends by 5.00%, while on a three year view, the dividends have grown by 0.71%. The share price has also posted a significant recovery over this period with the market capitalisation growing to CAD$2.22 billion currently.<\/p>\n FRU is widely covered by analysts in the street that have an average \u2018overweight\u2019 recommendation and $20.30 target on the security.<\/p>\n Tanzanian natural gas supplier, Orca Exploration Group (CA:ORK.B) ranks as the third highest scoring dividend stock at 90.72.<\/strong> The natural gas producer pays a healthy 8% dividend yield and has benefitted from rising commodity prices.<\/p>\n The company has grown dividends by 0.67% over the past two years, however the rate has not changed since mid-2021. The stock’s yield has risen due to the weakening share price. The stock has fallen about 20% since the beginning of 2021.<\/p>\n Orca reported second quarter earnings in August and grew revenue by 39% over the year to CAD$28.2 million. Additionally the company generated CAD$6.6 million in positive net income.<\/p>\n Institution Canaccord Genuity covers the stock with a \u2018buy\u2019 rating and $8.60 price target.<\/p>\n Canadian minerals giant Lundin Mining Corp (CA:LUN) ranks in second spot, closely behind the leader with a score of 92.61.<\/strong> The diversified miner currently has a dividend yield of 6.67% and has grown dividends by about 2% over the last two years.<\/p>\n The stock’s dividend yield has dropped significantly in the last two months with the share price more than halving.<\/p>\n The miners Ojos del Salado operations in Chile has been undergoing investigations by the country\u2019s National Service of Geology and Mining to analyse geological data after reporting the formation of a sinkhole near the Alcaparrosa mine. The investigation and uncertainty continues to weigh on the stock.<\/p>\n Lundin is widely covered by the street and has an average \u2018overweight\u2019 rating and $10.20 price target. The rating stance is made up by one third of analysts having buy calls while two thirds of the market are neutral.<\/p>\n Oil and gas company Cardinal Energy (CA:CJ) is the leader of the Canadian dividend leaderboard with a score of 93.98<\/strong>. Cardinal began paying dividends in May of 2022 after hiatus since November 2020.<\/p>\n Last week, the company announced that it would be increasing the monthly\u00a0 dividend for the fourth quarter from 5 cents to 6 cents. The increased rate, if sustained will result in 72 cents per share being paid with an annual dividend yield of 9.2% per anum<\/strong> based on the last closing share price of $7.79.<\/p>\n