High-Yield TSX Dividend Stocks to Consider in November 2024

Key Highlights:

• Whitecap Resources (TSX: WCP): A 7.04% yield with growth potential in Western Canada’s energy sector.
• Acadian Timber (TSX: ADN): Stable forestry giant offering a 6.56% yield.
• Firm Capital Mortgage Investment (TSX: FC): A whopping 8.62% yield backed by solid real estate demand.

Dividend Stocks Worth Your Attention This November

As the Canadian market forecasts 16% annual earnings growth despite recent flat performance, reliable dividend stocks offer both income and growth potential. Here’s a look at some standout dividend-paying stocks on the TSX to consider this November.

Let’s face it—finding the perfect dividend stock is like striking gold in a crowded market. But when you hit the right one, it can be a game-changer for your portfolio. This November, some TSX dividend payers are turning heads for their solid yields, reliable payouts, and growth potential. Here are the ones making waves.

Whitecap Resources (TSX: WCP): An Energy Giant with a Generous Yield

If a 7.04% yield isn’t enough to grab your attention, Whitecap Resources’ growth potential might. This oil and gas player has carved out a name for itself in Western Canada, with a P/E ratio of just 7x—making it a steal compared to the Canadian market average of 14.6x.

Analysts are all over this one, projecting a 26.8% upside in the stock price. Plus, Whitecap just locked in its November dividend payout of CA$0.0608 per share, payable in mid-December. With energy prices holding steady and Whitecap’s solid fundamentals, this one’s a keeper.

Acadian Timber (TSX: ADN): Steady Payouts in Forestry

Forestry stocks don’t always make headlines, but Acadian Timber is quietly rewarding its shareholders with a 6.56% dividend yield. Sure, timber might not sound glamorous, but Acadian’s reliable operations in Eastern Canada and the Northeastern U.S. make it a low-risk, high-reward pick.

Its valuation is equally compelling, with a P/E ratio of 11.3x—solid for a company in a sector that thrives on steady demand. If stability and consistent payouts are your jam, Acadian is worth a look.

Firm Capital Mortgage Investment (TSX: FC): A Real Estate Income Machine

At an eye-popping 8.62%, Firm Capital Mortgage Investment boasts the highest yield on this list. This company specializes in residential and commercial real estate loans, capitalizing on Canada’s ever-resilient property market.

While its payout ratio is high, the company’s earnings growth (averaging 5.9% annually over the last five years) keeps it sustainable. For income investors, this is the kind of stock that makes your portfolio work harder.

Olympia Financial Group (TSX: OLY): Outperforming in Tough Markets

With a 6.80% dividend yield and a one-year return of 20.3%, Olympia Financial Group is punching above its weight. Known for its diverse financial services, Olympia has proven it can deliver steady income even when broader markets face challenges.

This is the kind of under-the-radar stock that often surprises investors with its resilience. If you’re looking for diversification with solid returns, Olympia checks all the boxes.

Richards Packaging Income Fund (TSX: RPI.UN): Steady Income, Undervalued Stock

Richards Packaging might not be flashy, but its 5.69% yield and operational focus in packaging and healthcare supplies make it a reliable income generator. Trading at just 8.7x earnings, Richards offers a mix of value and stability that’s hard to beat.

Why These Stocks Matter

Dividend stocks aren’t just about collecting payouts—they’re about building a cushion for your portfolio in uncertain times. Whether it’s Whitecap’s energy-driven growth, Acadian’s steady forestry income, or Firm Capital’s real estate returns, these stocks bring something unique to the table.

Investor Takeaway

November is shaping up to be an excellent month for dividend investors on the TSX. From high yields to robust fundamentals, these stocks are worth your consideration. Don’t just settle for any dividend payer—dig deeper, and you might just strike gold.

Keep watching this space for more insights as these dividend stars continue to shape the Canadian market landscape.