Between February and March 2020, the S&P/TSX Composite Index fell by 37%. With the reopening of the economy, the financial market has regained its footing. When it comes to the Canadian stock market, October saw the longest winning streak since 2009. For the 14th time in a row, the index surpassed the US benchmark. Average annual returns of 5.99% for the S&P/TSX Composite over the past decade were lower than the S&PA 500’s return of 17.1%. It’s becoming more and more difficult to tell the two apart, according to analysts.
Here is Insider Monkey’s list of the best Canadian dividend stocks to buy for 2022. One of the best Canadian dividend stocks is the Toronto-Dominion Bank. Since 1995, the CAGR for the company’s dividend has been 11%. An annualized gain of 30.9 percent was recorded as of the 14th of December. The largest bank in Canada is Royal Bank of Canada. It has paid dividends for 32 years, increasing its yield by an average of 5.62 percent per year over the last decade. Over 8.6 million shares were held by GQG Partners, the company’s largest shareholder. During the first three months of 2021, the stock gained 31.2 percent, while its year-to-date returns were 27.7 percent. Canadian Imperial Bank of Commerce made C$5.06 billion in revenue in the fourth quarter of its most recent fiscal year. An international bank and financial services provider, Bank of Nova Scotia is headquartered in Halifax, Nova Scotia. The company distributes a dividend of $2.83 per share each year, with a dividend yield of 4.6%. As a result of a higher payout ratio of 46.83 percent, analysts believe the yield is attractive. It was announced on November 5 that TELUS Corporation would increase its dividend by 3.5 percent to C$0.3274. For the past year, the company has been increasing its dividend, and this trend is expected to continue for the foreseeable future. For more details, click 10 Best Canadian Dividend Stocks To Buy For 2022.