Although the TSX Composite Index is powering to fresh all-time highs in May 2025, that doesn’t mean investors should abandon fundamentals in favour of chasing momentum. Growth stocks may be leading the recent rally, but the foundation of a strong portfolio still includes dependable income. If I had to invest $7,000 today, I’d put it into one dividend payer that’s proven it could weather volatility, reward patience, and rise in the long run.
In this article, I’ll share why this TSX dividend stock looks really attractive right now and how it could anchor your portfolio with income and stability.
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An invincible dividend payer to buy today
The dividend stock that stands out to me right now is IGM Financial (TSX: IGM) — a dependable dividend payer with a solid financial growth track record and growing momentum. It’s been moving up lately, with IGM stock gaining more than 20% over the past 12 months.
As of now, the shares are trading at $44.38 apiece, and the company carries a market cap of $10.5 billion. Investors looking for income will appreciate its generous dividend yield of just over 5%, paid quarterly — making it one of the top dividend plays on the TSX today.
Strong numbers fueling the uptrend
If you don’t know it already, IGM operates through IG Wealth Management and Mackenzie Investments, two major names in Canada’s wealth and asset management space.
In the first quarter of 2025, the company reported a 9% YoY (year-over-year) increase in its assets under management and advisement to a record $275 billion. When you include strategic partnerships, like its stakes in Rockefeller Capital, Wealthsimple, and ChinaAMC, its total assets ballooned to over $503 billion, reflecting a solid 19% YoY surge.
Looking beyond asset growth
But it’s not just asset growth. The company saw net inflows of $4.2 billion in the first quarter alone, marking a huge turnaround from its net outflows during the same quarter of the previous year. That means its clients aren’t just sticking around; they’re adding more money to the table.
As a result, IGM’s adjusted quarterly net profit climbed by 5.9% YoY to $237.8 million. Similarly, its adjusted earnings for the quarter rose 6.4% to $1 per share — its best first-quarter result yet.
On the profitability side, the company’s margins are holding strong as its adjusted net profit margin last quarter remained near 27%.
Built for the long run
In addition to these strong financials, IGM is continuing to focus on laying the groundwork for long-term growth. It’s investing heavily in digital innovation, expanding advisor platforms, and positioning itself as a leader in the high-net-worth segment. Through partnerships with firms like Rockefeller and Northleaf, the company is gaining exposure to private equity and international markets, which are emerging as key growth areas in a shifting investment environment.
For investors who want a dependable stock that blends steady dividends with long-term growth potential, IGM Financial checks all the right boxes. Although the stock has risen more than 20% in the last year, it’s still down nearly 8% from its 52-week high — making it look even more attractive to buy at current levels.
