The 5 Highest Dividend Stocks in Canada for 2025: Maximize Your Passive Income

Are you searching for a stable way to earn money without constantly watching the markets? High-dividend stocks can be the perfect answer. These stocks pay you a portion of the company's earnings on a regular basis—just for owning them.

In Canada, dividend-paying companies have long been favored by investors who want steady income and long-term growth. Whether you're new to investing or simply looking to add more income to your portfolio, understanding which stocks provide the highest dividends is key.

This blog post highlights five of the highest dividend-paying stocks in Canada for 2025, including trusted names like Bank of Nova Scotia dividend. Let’s dive into how these top companies can help you grow your financial future.


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1. Bank of Nova Scotia (BNS): Reliable BNS Dividends Year After Year

The Bank of Nova Scotia, or Scotiabank, is one of Canada’s most recognized banks. Known for stability and strong international operations, it consistently rewards shareholders with healthy dividends.

  • Dividend Yield: Approximately 6.06% as of April 2025

  • Quarterly Dividend: C$1.06 per share

  • Payout Ratio: Roughly 64.77%

Payout Ratio: This means the bank pays out about 65% of its earnings to shareholders as dividends, and keeps the rest to reinvest in its business.

If you’re looking for dependable Bank of Nova Scotia dividend, Scotiabank is a top choice. Many long-term investors value Scotiabank dividend payments for their consistency and solid performance over time.

Beyond the numbers, Scotiabank has a strong record of weathering financial downturns, offering investors peace of mind. Its presence in international markets—especially in Latin America—also helps diversify its earnings. This geographic balance makes Bank of Nova Scotia dividend particularly attractive for those seeking reliable cash flow.


2. Enbridge Inc. (ENB): Steady Payouts in Energy Infrastructure

Enbridge manages North America's largest pipeline system and offers one of the most reliable dividend streams in the Canadian market.

  • Dividend Yield: About 6.8%

  • Payout Ratio: Roughly 138.51%

Despite the high payout ratio, Enbridge's steady cash flow allows it to continue generous dividend payouts, making it a top high-yield stock for income-focused investors.

In addition to its strong legacy in oil and gas, Enbridge has been increasing its stake in renewable energy. This shift offers future-focused investors a way to benefit from clean energy growth without sacrificing yield. The company’s long-term contracts and regulated assets ensure cash flow stability, making it a foundation in many dividend portfolios.


3. Telus Corporation (T): Tech and Telecom with Strong Returns

Telus delivers communication services across Canada and has grown its dividend consistently, even as it invests in innovation like healthcare technology.

  • Dividend Yield: Around 6.87%

  • Payout Ratio: Around 284.16%

Its high dividend payout may raise eyebrows, but Telus has shown commitment to shareholders and remains a staple in Canadian dividend portfolios.

Unlike many companies with high payout ratios, Telus continues to innovate, especially in digital healthcare solutions. Its PureFibre internet infrastructure also provides long-term growth prospects. For investors looking to blend technology exposure with reliable income, Telus remains a compelling option.


4. BCE Inc. (BCE): Telecom Stability with High Dividend Returns

BCE Inc., the parent company of Bell Canada, is one of the country’s largest telecommunications providers. It delivers services including wireless, internet, and media, making it a staple in Canadian households.

  • Dividend Yield: Approximately 7.1% as of April 2025

  • Quarterly Dividend: C$0.9675 per share

  • Payout Ratio: Around 125%, reflecting its shareholder-focused policy

BCE has long been considered a go-to stock for investors seeking consistent dividend income. Despite the high payout ratio, its diversified revenue from wireless and broadband services has helped maintain generous distributions. As a regulated industry with predictable cash flows, telecom is often favored during economic uncertainty.

The company's ongoing investments in 5G and fibre-optic infrastructure suggest long-term revenue growth while maintaining its role as a top dividend-paying stock in Canada.


5. Canadian Natural Resources (CNQ): Energy Income You Can Count On

Canadian Natural Resources is a top player in the oil and gas sector, offering high dividends supported by efficient operations and strong cash flow.

  • Dividend Yield: About 4.00%

  • Payout Ratio: Around 56.24%

This stock appeals to investors seeking energy exposure with consistent returns.

CNQ's ability to maintain low production costs even in volatile markets gives it a strong edge. Its shareholder-friendly policies include regular dividend increases and share buybacks. For energy investors who prioritize yield and operational resilience, CNQ deserves serious consideration.


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Choosing stocks with high dividend yields—such as Bank of Nova Scotia dividend stocks like BNS, or stable options like Enbridge and Telus—can give your investment portfolio a steady income stream.

Make sure to diversify, check payout ratios, and align your choices with your financial goals. Look at a company’s long-term track record, growth prospects, and global strategy when making your selections. With strong companies offering some of the best Bank of Nova Scotia dividend in the market, 2025 is a great year to build passive income with confidence.

Consider setting up a dividend reinvestment plan (DRIP) to grow your holdings over time automatically. This strategy helps you benefit from compounding returns without needing to time the market.


Note: Dividend data is current as of April 2025 and subject to change. Always do your own research or consult a financial advisor before investing.

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