Best High Yield Dividend Stocks this May 2026 in Canada

Brookfield Corporation (BN) is positioned as a compelling choice for investors interested in renewable energy, offering a modest dividend yield of approximately 0.63%. With a remarkable one-year return of 26.53% and a substantial five-year return of 105.04%, this company demonstrates strong growth potential. Notably, it has received solid analyst support, with ratings of "Overweight" and "Sector Outperform" from Morgan Stanley and Scotiabank, respectively, indicating confidence in its continued performance.

Canadian Natural Resources (CNQ) stands out as a strong energy leader, boasting an impressive annualized dividend growth rate of 18.8% over the past three years. With a solid dividend yield of 3.54% and remarkable returns—48.39% over the past year and 232.73% over five years—CNQ is an attractive option for investors seeking reliable income from financially healthy companies. Analysts maintain a positive outlook, with Goldman Sachs and RBC Capital both issuing "Buy" and "Outperform" ratings, reinforcing the stock's appeal.

BCE stands out as a reliable choice for income-focused investors, boasting a robust dividend yield of 5.83%. With a commendable one-year return of 26.18% and a solid five-year performance of 25.16%, this communications giant is noted for its consistent dividend increases, reinforcing its appeal for those seeking dependable income streams. Despite a neutral rating from analysts, BCE’s history and financial stability position it well in the market.

Telus stands out as a reliable telecom stock among the top high-dividend picks for 2026, boasting a substantial dividend yield of 9.25%. Despite experiencing a 1-year return of -19.12% and a 5-year return of -34.19%, it remains a compelling choice for investors seeking consistent income from financially healthy companies. With a mixed analyst sentiment—B of A Securities giving it a Buy rating while JP Morgan maintains an Underweight—prospective investors should weigh these insights carefully.

AT&T (T) has a consensus rating of Buy from 17 analysts, with 35% recommending Strong Buy, 35% Buy, and 29% Hold.

TELUS (TU) has a consensus rating of Hold from 4 analysts, with 25% recommending Strong Buy, 50% Hold, and 25% Sell.

SmartCentres REIT (SRU.UN) stands out with a monthly dividend of $0.154 per unit, translating to a solid yield of approximately 6.51%. This investment boasts stable operations and a consistent payout history, making it an attractive option for income-focused investors. With a 12.43% return over the past year, it demonstrates promising performance, further supported by its B+ analyst rating.

RioCan's dividend appears safe with an adjusted funds from operations (AFFO) payout rate of 71.9% for 2025, indicating a healthy cash flow after maintenance costs.

SmartCentres REIT is experiencing growth, having leased 430,000 square feet of vacant space and achieved a 6.3% rent increase on 88% of its 5.3 million square feet of matured space in 2025.

Quebecor (QBR.B) stands out as a top-performing dividend stock on Canadian exchanges, boasting a solid dividend yield of 2.46%. With impressive returns of nearly 50% over the past year and 63.69% over five years, it demonstrates significant growth potential. Analysts have recognized its strong performance with an A- rating, making it an appealing choice for investors seeking reliable income from financially healthy companies.

The average target price for Quebecor stock is C$60.38, based on 9 analysts' forecasts, with a high of C$65.63 and a low of C$54.19.

Procore Technologies (PCOR) has a consensus rating of Buy from 15 analysts, with 40% recommending Strong Buy, 40% recommending Buy, and 20% suggesting Hold.

Quebecor aims to grow by focusing on technological advancements and enhancing its telecommunications and digital services to meet consumer demands.

Whitecap Resources (WCP) stands out as an attractive choice for income-seeking investors, offering a monthly dividend of $0.061 per share, which translates to a yield of approximately 4.94%. With impressive one-year and five-year returns of 78.38% and 178.15% respectively, this energy company is a strong contender in the sector. Analysts have recognized its potential, giving it an "A" rating and setting an average price target of C$15.50, hinting at further growth prospects.

Analysts have set an average price target of C$15.50 for Whitecap Resources (WCP), indicating a potential upside of 3.89% from its current price of C$14.92.

The 7% rule is a risk management strategy that involves selling a stock if its price falls 7% below the purchase price to limit losses.

Whitecap Resources Inc. is involved in the acquisition, development, and management of oil and natural gas properties in Western Canada.

With a dividend yield of 5.81%, Power Corporation of Canada (POW) stands out as a financially healthy investment option, particularly for those seeking reliable income. However, its recent performance shows a 1-year return of just 5.86% and a disappointing -2.94% over the past five years. The consensus among analysts is neutral, with four recommending a buy, while four suggest holding the stock, indicating a cautious outlook.

The consensus rating for Power Corporation is 'Neutral,' with 4 analysts recommending a buy, 1 suggesting a sell, and 4 advising to hold.

Canadian Natural Resources has a consensus rating of 'Moderate Buy' from 12 analysts, with 6 recommending a hold and 6 a buy.

The average price target for Power Corp of Canada is C$75.38, indicating a potential upside of 3.79% from its current price of C$72.62.

Northland Power Inc. stands out as a promising investment in the renewable energy sector, offering a forward dividend yield of 4.24% with an annual payout of C$1.20 per share. Analysts from National Bank Financial and Scotiabank have maintained an outperform rating, indicating confidence in the stock's potential amidst a modest undervaluation at around C$21.25 compared to its fair value estimate of C$22.15. With a solid one-year return of 24.12%, Northland Power is positioned well for those seeking reliable income from financially healthy companies focused on sustainable energy solutions.

Northland Power Inc. stock shows buy signals from both short and long-term Moving Averages, indicating a positive outlook.

NPI stock represents Northland Power Inc., a power producer operating in Canada, the Netherlands, Germany, Colombia, Spain, the United States, and other international markets.

Northland Power is considered modestly undervalued at approximately CA$21.25, compared to a fair value estimate of CA$22.15, influenced by upcoming projects and funding risks.

Northland Power cut its dividend to redirect cash flow towards financing projects internally, as its stock price is significantly below its pandemic high, making it difficult to raise funds through new share sales.