Canadian dividend calendar

I see dividend growth investors asking for dividend calendars quite often. I have seen a few dividend calendars for US dividend stocks but haven’t really seen any for Canadian dividend stocks. Since it seems to be hard to find a Canadian dividend calendar, I figured I’d spend the time and create one myself. 

Since there are many Canadian companies that pay dividends regularly, I want to narrow down the scope of the Canadian dividend calendar. With that in mind, I decided to take a look at the Canadian dividend all star list from DGI&R (Dividend Growth Investing & Retirement) and create the calendar based on the Canadian dividend all star list. 

I then used Morningstar.ca and Dividend History to check for dividend payment months and tabulated the information in an Excel spreadsheet. 

Note: For some reason I couldn’t get the latest all star list so I used the Feb 2021 list. It’s not be the latest version but I think it’ll do the job. 

What are dividends

When a company makes profits, there are a few ways of sharing these profits with its shareholders. The company can reinvest the money in the business, try to grow the business, and reward its shareholders by increasing the share price. The company can also share part of the profit with shareholders via a cash distribution, or a dividend.

For dividend payments, companies usually pay out quarterly dividends. Some companies, like REITs, income trusts, pay out monthly dividends. There are also a few companies that pay out dividends semi-annually or annually.

To make things more confusing, although some companies pay dividends quarterly, these payments may not be exactly every three months. Occasionally companies may decide to pay dividends in a different quarterly interval. Most of the time, it’s due to tax reasons (i.e. defer Dec dividend payment to the new year). 

What are ex dividend dates

As a dividend investor, here are some of the key dividend dates you want to pay attention to. 

  • Dividend Announcement Date: This is the date when a company formally announces how much dividends it will pay out. Dividends must be approved by the shareholders before they can be paid.
  • Ex-Dividend Date: This can also be called the ex-date. The ex-dividend date or ex-date is the date that the dividend eligibility expires. For example, if the ex-dividend date is on October 8, someone that buys the stock on the ex-dividend date (i.e October 8) or after this date won’t be eligible to receive the dividends.
  • Record Date: The record date is set one day after the ex-dividend date. This date helps the company to determine which shareholders are eligible to receive a dividend.
  • Payment Date: This is the date when the company issues the dividend payment. This is when the dividend cash is credited to the investor’s account.

When it comes to dividends, many people get confused with the ex-dividend date. What is the ex dividend date? Let’s create an example, if a company declares the ex dividend date as Thursday, Oct 8, you need to purchase the stock before this date, not on this date to be eligible to receive the next dividend payment.

Why? The Securities and Exchange Commission (SEC) requires a trade to settle in two business days for a trade to settle (T+2). So when you purchase a stock, you technically don’t “own” the stock until three days later.

Canadian Dividend All Star List

There are currently 99 stocks on the Canadian dividend all star list and the dividend frequency (M = monthly, Q = Quarterly):

TickerCompanyStreak (Years)Dividend Freq
CU.TOCanadian Utilities49Q
FTS.TOFortis Inc47Q
TIH.TOToromont Industries Ltd31Q
CWB.TOCanadian Western Bank29Q
ACO-X.TOAtco Ltd., Cl.I, 27Q
TRI.TOThomson Reuters27Q
EMP-A.TOEmpire Company Ltd26Q
IMO.TOImperial Oil26Q
MRU.TOMetro Inc26Q
CNR.TOCanadian National Railway25Q
ENB.TOEnbridge Inc25Q
SAP.TOSaputo Inc.23Q
CNQ.TOCanadian Natural Resources20Q
TRP.TOTC Energy Corporation20Q
CCL-B.TOCCL Industries Inc.19Q
FTT.TOFinning International19Q
TCL-A.TOTranscontinental Inc19Q
RBA.TORitchie Bros. Auctioneers Inc18Q
CCA.TOCogeco Communications Inc.17Q
T.TOTelus Corporation17Q
CGO.TOCogeco Inc16Q
IFC.TOIntact Financial 16Q
SJ.TOStella-Jones Inc.16Q
ADW-A.TOAndrew Peller Ltd.15Q
XTC.TOExco Technologies Ltd15Q
BYD.TOBoyd Group Services Inc.14Q
EMA.TOEmera Incorporated14Q
ENGH.TOEnghouse Systems Limited14Q
BIP-UN.TOBrookfield Infrastructure Partners LP13Q
FNV.TOFranco-Nevada Corp13Q
TCS.TOTecsys Inc.13Q
BCE.TOBCE Inc12Q
TD.TOToronto Dominion Bank10Q
ATD-B.TOAlimentation Couche-Tard Inc11Q
BEP-UN.TOBrookfield Renewable Energy Partners LP11Q
LGT-B.TOLogistec Corporation11Q
MG.TOMagna International Inc11Q
NA.TONational Bank11Q
WCN.TOWaste Connections Inc.11Q
AQN.TOAlgonquin Power & Utilities Corp.10Q
BNS.TOBank of Nova Scotia10Q
CM.TOCanadian Imperial Bank of Commerce10Q
CTC-A.TOCanadian Tire Corp Ltd A Nvtg10Q
DOL.TODollarama Inc.10Q
EQB.TOEquitable Group Inc10Q
EIF.TOExchange Income Corporation10M
GRT-UN.TOGranite REIT10M
GCG-A.TOGuardian Capital Group Ltd.10Q
HDI.TOHardwoods Distribution Inc.10Q
KEY.TOKeyera Corp.10M
MIC.TOSagen MI Canada Inc.12Q
SYZ.VSylogist Ltd.11Q
RY.TORoyal Bank of Canada10Q
TFII.TOTFI International Inc.10Q
AP-UN.TOAllied Properties REIT9M
BMO.TOBank of Montreal9Q
BAM-A.TOBrookfield Asset Management Inc9Q
CAR-UN.TOCanadian Apartment Properties REIT9M
FCD-UN.VFirm Capital Property Trust9M
FN.TOFirst National Financial Corp9M
WN.TOGeorge Weston Ltd9Q
IIP-UN.TOInterRent REIT9M
L.TOLoblaw Companies Limited9Q
PPL.TOPembina Pipeline9M
STN.TOStantec Inc9Q
BPY-UN.TOBrookfield Property Partners L.P.8Q
CGI.TOCanadian General Investments, Limited8Q
CRT-UN.TOCT REIT8M
MAL.TOMagellan Aerospace Corporation8Q
ONEX.TOOnex Corp8Q
OTEX.TOOpen Text Corporation8Q
PKI.TOParkland Corporation8M
PBH.TOPremium Brands Holdings Corp8Q
SIS.TOSavaria Corporation8M
CPX.TOCapital Power Corporation7Q
GWR.TOGlobal Water Resources Inc.7M
INE.TOInnergex Renewable Energy Inc.7Q
MFC.TOManulife Financial Corporation7Q
SGR-UN.TOSlate Grocery REIT7M
SRU-UN.TOSmartCentres REIT7M
CSH-UN.TOChartwell Retirement Residences6M
FSV.TOFirstService Corporation8Q
GSY.TOgoeasy Ltd.6Q
GWO.TOGreat-West Lifeco Inc.6Q
MFI.TOMaple Leaf Foods Inc.6Q
POW.TOPower Corporation of Canada6Q
QBR-B.TOQuebecor Inc.6Q
QSR.TORestaurant Brands International6Q
QSP-UN.TORestaurant Brands International Partnership6Q
RAY-A.TOStingray Digital Group Inc.6Q
SLF.TOSunlife6Q
AEM.TOAgnico Eagle Mines Limited5Q
BAD.TOBadger Daylighting Ltd.5M
CP.TOCanadian Pacific Railway Ltd5Q
H.TOHydro One Limited5Q
MRG-UN.TOMorguard North American REIT5M
SVI.VStorageVault Canada Inc.5Q
X.TOTMX Group Limited5Q
WBR.TOWaterloo Brewing Ltd.5Q

It is nice to see that there are so many Canadian companies that have increased dividends for more than ten years. It’s also amazing that Canadian Utilities and Fortis have increased dividends for more than 40 years. 

Canadian dividend calendar – Canadian dividend payout dates

As mentioned, I went through the 99 Canadian dividend all star list and used Morningstar.ca and Dividend History to check the dividend payment months and dividend payout dates. The payment months are recorded in an Excel spreadsheet to allow for an overall view.

What I found from this exercise:

  • 18 Canadian dividend stocks pay out monthly dividends
  • 81 Canadian dividend stocks pay out quarterly dividends
  • Out of the 81 quarterly payers, 11 stocks pay out irregular quarterly dividends. These dividend stocks are – Sapputo (SAP.TO), Stella-Jones (SJ.TO), Tecsys Inc (TCS.TO), Alimentation Couche-Tard (ATD.B), Waste Connections (WCN.TO), Sagen MI Canada (MIC.TO), Loblaw (L.TO), Quecbecor (QBR.B), Restaurant Brand International (QSR.TO), Restaurant  Brand International Partnership (QSR.UN), Waterloo Brewing (WBR.TO)
  • One company, Power Corp (POW.TO) seemed to have different dividend distribution months over the last few years.  

February is the month with the lowest number of companies paying out dividends. May, August, and November follow behind February closely in terms of a low number of companies paying out dividends. Funny enough, this seems to line up with our monthly dividend income trend.

The monthly dividends breakdown is as follow:

  • January: 51 companies pay out dividends, including Canadian Natural Resources, TC Energy, Telus, TD, and Bank of Nova Scotia. 
  • February: 28 companies pay out dividends, including Emera, National Bank, Royal Bank, and Power Corp. 
  • March: 54 companies pay out dividends, including Canadian Utilities, Fortis, Atco, Enbridge, Intact Financial, Magna International, Waste Connection, and Sunlife.
  • April: 53 companies pay out dividends, including CIBC, Algonquin Power & Utilities Corp, and Loblaw. 
  • May: 30 companies pay out dividends, including Cogeco, Dollarama, and Bank of Montreal. 
  • June: 55 companies pay out dividends, including Canadian National Railway, Canadian Tire, and Brookfield Renewable Energy Partners. 
  • July: 50 companies pay out dividends, including Empire, Imperial Oil, BCE, and Alimentation Couche-Tard Inc.
  • August: 30 companies pay out dividends, including Waste Connections, SmartCentre REIT, and Keyera.
  • September 54 companies pay out dividends, including Canadian Western Bank, Brookfield Asset Management, Open Text Corporation, and goeasy Ltd.
  • October: 52 companies pay out dividends, including Saputo, Telus, and Premium Brands Holding Corp.
  • November: 30 companies pay out dividends, including Metro, Enghouse Systems Limited, and Parkland Corporation.
  • December: 53 companies pay out dividends, including Thomson Reuters, CCL Industries Inc, Exco Technologies Ltd, and Manulife Financial.

Canadian dividend calendar – Overview

Here’s an overview of the Candian dividend calendar.

CompanyJanFebMarAprMayJunJulAugSepOctNovDec
Canadian UtilitiesYYYY
Fortis IncYYYY
Toromont Industries LtdYYYY
Canadian Western BankYYYY
Atco Ltd., Cl.I, YYYY
Thomson ReutersYYYY
Empire Company LtdYYYY
Imperial OilYYYY
Metro IncYYYY
Canadian National RailwayYYYY
Enbridge IncYYYY
Saputo Inc.YYYY
Canadian Natural ResourcesYYYY
TC Energy CorporationYYYY
CCL Industries Inc.YYYY
Finning InternationalYYYY
Transcontinental IncYYYY
Ritchie Bros. Auctioneers IncYYYY
Cogeco Communications Inc.YYYY
Telus CorporationYYYY
Cogeco IncYYYY
Intact Financial YYYY
Stella-Jones Inc.YYYY
Andrew Peller Ltd.YYYY
Exco Technologies LtdYYYY
Boyd Group Services Inc.YYYY
Emera IncorporatedYYYY
Enghouse Systems LimitedYYYY
Brookfield Infrastructure Partners LPYYYY
Franco-Nevada CorpYYYY
Tecsys Inc.YYYY
BCE IncYYYY
Toronto Dominion BankYYYY
Alimentation Couche-Tard IncYYYY
Brookfield Renewable Energy Partners YYYY
Logistec CorporationYYYY
Magna International IncYYYY
National BankYYYY
Waste Connections Inc.YYYY
Algonquin Power & Utilities Corp.YYYY
Bank of Nova ScotiaYYYY
Canadian Imperial Bank of CommerceYYYY
Canadian Tire Corp Ltd A NvtgYYYY
Dollarama Inc.YYYY
Equitable Group IncYYYY
Exchange Income CorporationYYYYYYYYYYYY
Granite Real Estate Investment TrustYYYYYYYYYYYY
Guardian Capital Group Ltd.YYYY
Hardwoods Distribution Inc.YYYY
Keyera Corp.YYYYYYYYYYYY
Sagen MI Canada Inc.YYYY
Sylogist Ltd.YYYY
Royal Bank of CanadaYYYY
TFI International Inc.YYYY
Allied Properties REITYYYYYYYYYYYY
Bank of MontrealYYYY
Brookfield Asset Management IncYYYY
Canadian Apartment Properties REITYYYYYYYYYYYY
Firm Capital Property TrustYYYYYYYYYYYY
First National Financial CorpYYYYYYYYYYYY
George Weston LtdYYYY
InterRent REITYYYYYYYYYYYY
Loblaw Companies LimitedYYYY
Pembina PipelineYYYYYYYYYYYY
Stantec IncYYYY
Brookfield Property Partners L.P.YYYY
Canadian General Investments, LimitedYYYY
CT REITYYYYYYYYYYYY
Magellan Aerospace CorporationYYYY
Onex CorpYYYY
Open Text CorporationYYYY
Parkland CorporationYYYYYYYYYYYY
Premium Brands Holdings CorpYYYY
Savaria CorporationYYYYYYYYYYYY
Capital Power CorporationYYYY
Global Water Resources Inc.YYYYYYYYYYYY
Innergex Renewable Energy Inc.YYYY
Manulife Financial CorporationYYYY
Slate Grocery REITYYYYYYYYYYYY
SmartCentres REITYYYYYYYYYYYY
Chartwell Retirement ResidencesYYYYYYYYYYYY
FirstService CorporationYYYY
goeasy Ltd.YYYY
Great-West Lifeco Inc.YYYY
Maple Leaf Foods Inc.YYYY
Power Corporation of CanadaYYYY
Quebecor Inc.YYYY
Restaurant Brands Inc.YYYY
Restaurant Brands PartnershipYYYY
Stingray Digital Group Inc.YYYY
SunlifeYYYY
Agnico Eagle Mines LimitedYYYY
Badger Daylighting Ltd.YYYYYYYYYYYY
Canadian Pacific Railway LtdYYYY
Hydro One LimitedYYYY
Morguard North American REITYYYYYYYYYYYY
StorageVault Canada Inc.YYYY
TMX Group LimitedYYYY
Waterloo Brewing Ltd.YYYY

Since I wanted this post to be a resource for Canadian dividend investors, I have decided to share the master Canadian dividend calendar. It is also easier to work in the spreadsheet than looking at the table above. You can download the master spreadsheet here.

Building a dividend portfolio 

It’s understandable that some dividend investors prefer receiving dividend income each month and prefer to build their dividend portfolio that way. It’s definitely a nice feeling to see dividend pay cheques deposited in your investment account each month. 

If take the 10 best Canadian dividend stocks that I selected, the monthly dividend payment would look something like this:

Canadian dividend calendar - 10 best Canadian dividend stocks

Only two companies, Royal Bank and National Bank, pay out dividends in February, May, August, and November. Since there are only ten dividend stocks, two of them have to be repeated. 

If we want to have a different company logo for each month, we can add two companies that pay dividends on these four months. Looking at the list I’d pick Emera and Enghouse Systems and the Canadian dividend calendar would look something like this:

Canadian dividend calendar - monthly payments

If you are looking to build your dividend portfolio, I’d suggest checking out these articles: 

Summary – Canadian Dividend Calendar

This post has turned out a bit longer than I anticipated due to all the tables and information. I hope many of you will find this Canadian dividend calendar useful. 

A word of caution, rather than focusing on receiving dividends each month, dividend investors should focus on investing high quality dividend paying stocks to pay safe and reliable dividends. Focus on the long term stability and growth of the dividends, rather than whether you get paid each month or not. 

Please let me know if you find this information useful by leaving a comment or send me an email.   

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27 thoughts on “Canadian dividend calendar”

  1. Thanks so much Bob for sharing with us all these statistics / data concerning canadian dividends stocks. All these informations will help for sure a lot of people / investors. I have a lot of these company already into my portfolio ✓

    Reply
  2. Thanks, Bob! Wonderful list. Appreciate you putting the time! Now, if I can just have a way for Microsoft Excel to get the Ex-date and $ pulled automatically. I am not a fan of Google Sheet. If I can’t, I am planning on having it pulls the info from Questrade. We shall see how that works out.

    Reply
  3. Thanks for putting the list together Bob!

    One suggestion: IMO you should change your list name to the “Canadian Dividend Growth Calendar” or to the “Canadian Dividend All-Star Calendar”.

    The dividend companies covered in your list are actually Dividend Growers, ie; all have raised their dividend for at least 5 consecutive years per the CDASL you draw the companies from. Calling the list the “Canadian Dividend Calendar” is misleading as it doesn’t include the dozens of Canadian dividend paying stocks which still pay but have NOT raised for 5 consecutive years for various reasons.

    Bernie

    Reply
  4. Bob, your posts are so well prepared and helpful! Since I always read it but never comment, I just wanted to say that I appreciate it very much! Kudos to you!

    Reply
  5. Dividend all-star list! That’s what the Internet’s been missing all along, Bob.

    I haven’t dabbled in dividend investing at all, just the S&P 500 which pays dividends every quarter. I hope to get into the dividend investing game soon when I have a lot more capital and money to play around with. There’s just so many other kind of investing I want to do before I get in into it!

    Reply
  6. Thanks for the list, Tawcan! It’s nice to know what companies pay each month. I’ve been looking for some new positions to add since it’s more difficult to find value lately. You have certainly given me a lot of stocks to consider. Enjoy your weekend!

    Reply
  7. This is detailed! 🙂 Must have spent a lot of time making this chart, thanks.
    I found an app called Dividend Predictor which has been helpful- however they have a subscription required. I am on the fence as to whether to pay $12 for one year but I think I will splurge, haha!
    Scotia iTrade platform has dividend income projections embedded.

    Reply
  8. Thanks for compiling the list of Canadian dividend all-starts. I own many of them but the list has introduced me to a few I haven’t considered and need to research further. Dividend Daddy particularly appreciates the dividend calendar.

    Reply
  9. Hi Bob,
    Can you explain the thinking of holding an ETF with for example, bank stocks in it and also purchasing bank stocks individually? If you have them in one, what is the benefit of “double dipping” instead of putting your money into something else?

    thanks
    jason

    Reply
      • I’m sorry, I’ll be clear, is there a logic to owning a ETF with certain stocks in it but also owning the same individual stocks outside of an ETF?

        Reply
          • I’m the same. I “double dip”. I own XAW and also own individual stocks like Johnson & Johnson, etc., that are held within XAW – XAW gives me much more diversification than I would ever be able to get trying to replicate its holdings. In Canada, it’s easier to avoid an ETF because replicating the Canadian market via individual stocks is much easier.

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