Take 2024, for instance. Our A-Team of Top 10 Dividend All-Stars achieved a combined equal-weighted total return of 32.49% for the yr ended November 30, our record date. This exceeded the benchmark S&P/TSX Composite return of 26.75% over the identical period.
Ironically, the very best performer of the group was First Quantum Minerals, which didn’t pay any dividends in the course of the yr. Faced with the closure of its Cobre Panama mine on account of a political dispute, the corporate suspended its dividend entirely. But it still showed good price performance, rising 72.19% over the yr as its future became clearer. We will get the victory.
Other standouts on our ’24 A-List included two other mining firms, Agnico Eagle Mines and Lundin Mining, and insurer iA Financial Corp. All recorded total returns of fifty% or more. Only considered one of our favorites, Enghouse Systems, suffered a loss within the yr under review, taking dividends into consideration.
As is likely to be expected, the B-list didn’t perform quite in addition to the A-team, but within the 12 months to November 30, 2024, the overall return was still over 20%. Large-cap firm Manulife Financial stood out with a return of 75.47%, with West Fraser Timber Co. a distant second. Two of our B team members posted negative low single-digit total returns in the course of the period: Cenovus Energy and Richelieu Hardware.
Combined, the A and B teams posted an equal-weighted total return of 26.42%, which coincidentally was almost the exact same because the S&P/TSX Composite return for the period – arguably with less risk. The more comparable S&P/TSX Composite Dividend Index, which incorporates only dividend payers, returned 24.4%.
“Commodity stocks have had a tailwind this year with strong metal prices. They generated excess cash and reversed that with higher dividend payouts,” says Aman Raina of Sage Investors, who compiled each last yr’s and this yr’s lists. “The higher prices led to higher profits and contributed to higher capital gains.” He expects the identical fundamental aspects to find out the performance of our picks in 2025.
To use the charts: To fully display the tables, slide the columns to the precise or left along with your fingers or mouse.
Group A – Dividend Stocks 2024
| Rank 2024ing | ticker | Stock name | Trailing Dividend Yield (Nov 29, 2024) | 12-month price return (November 30, 2023 to November 29, 2024) | Total return |
|---|---|---|---|---|---|
| 1 | ELEVATOR | Labrador Iron Ore Royalty Corp. | 8.59% | -5.66% | 2.93% |
| 2 | AEM-T | Agnico Eagle Mines Ltd. | 2.20% | 62.06% | 64.26% |
| 3 | ERF-T | Enerplus Corp. | 1.44% | 18.42% | 19.86% |
| 4 | IMO T | Imperial oil | 2.30% | 35.63% | 37.93% |
| 5 | AGI-T | Alamos Gold Inc. Class A | 0.67% | 32.32% | 32.99% |
| 6 | IAG-T | IA Financial Corp. Inc. | 3.97% | 47.70% | 51.67% |
| 7 | LUN-T | Lundin Mining Corp. | 3.83% | 46.17% | 50.00% |
| 8 | ABX-T | Barrick Gold Corp. | 1.68% | 2.85% | 4.53% |
| 9 | FM-T | First Quantum Minerals Ltd. | 0.00% | 72.19% | 72.19% |
| 10 | ENGH-T | Enghouse Systems Ltd. | 2.93% | -14.41% | -11.47% |
| Group A average | 32.49% |
Group B – Dividend Stocks 2024
| Rank 2024ing | ticker | Stock name | Trailing Dividend Yield (Nov 29, 2024) | 12-month price return (November 30, 2023 to November 29, 2024) | Total return |
|---|---|---|---|---|---|
| 11 | CNQ-T | Canadian Natural Resources Ltd. | 4.64% | 4.89% | 9.52% |
| 12 | CVE-T | Cenovus Energy Inc. | 3.24% | -7.85% | -4.61% |
| 13 | MFC-T | Manulife Financial | 5.91% | 69.56% | 75.47% |
| 14 | RCH-T | Richelieu Hardware Ltd. | 1.40% | -4.47% | -3.07% |
| 15 | LNR-T | Linamar Corp. | 1.68% | 6.70% | 8.38% |
| 16 | TECK-BT | Class B | 1.80% | 27.88% | 29.68% |
| 17 | WPM-T | Wheaton Precious Metals Corp. | 0.95% | 31.30% | 32.25% |
| 18 | TIH-T | Toromont Industries | 1.71% | 5.02% | 6.73% |
| 19 | WFG-T | West Fraser Timber Co. Ltd. | 1.60% | 39.73% | 41.32% |
| 20 | FRU-T | Freehold Royalties Ltd. | 7.75% | 0.00% | 7.75% |
| Group B average | 20.34% |
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