Are you looking for high quality dividend stocks with yields over 5%?
Sadly, there aren’t too many such opportunities these days. The TSX Composite Index has performed brilliantly this year, rising 21% and outperforming the S&P 500 by 7%. As a result, many stocks that yielded north of 5% last year have much lower yields today. For example, TD Bank, my personal favourite high yield name of 2024, had a 5.5% yield that year, but yields only 3.8% today. That’s the downside of stocks going up: their yields go down!
Nevertheless, I have been able to identify five reasonably high quality high-yield opportunities on the TSX in September of 2025. In this article, I explore five TSX stocks with dividend yields over 5%.
Enbridge
Enbridge Inc (TSX:ENB) is a Canadian pipeline company whose shares yield 5.5%. This is actually a historically low yield for Enbridge: for most of the last decade, ENB shares yielded around 7%. You could even snap up shares at a 12% yield briefly during the COVID-19 market crash!
Today, Enbridge’s yield is much lower than it was in the past, but it’s still relatively high. There might still be an opportunity here.
Bank of Nova Scotia
The Bank of Nova Scotia (TSX:BNS), better known as ‘Scotiabank,’ is a Canadian bank stock whose shares yield almost exactly 5% (okay, about 0.06% less than 5% – cut me some slack here). Scotiabank has historically been the highest yielding of Canada’s Big Six Banks. At times it has yielded as much as 7%! This year, the stock got caught up in a massive rally in Canadian financials, much like its peers did. You can still snap up BNS shares at a near-5% yield and enjoy possible dividend growth as well.
Brookfield Renewable
Brookfield Renewable Partners (TSX:BEP.UN)(TSX:BEPC) is a Canadian renewable energy company/fund. You can purchase Brookfield Renewable in both a corporate form and a limited partnership.
Brookfield Renewable has been making big waves in the world of energy lately. It recently inked deals to supply renewable power to Microsoft and Google, both deals being valued in the billions of dollars. It is also supplying power to utilities and other traditional customers across both Canada and the United States. There may be some value here.
Canadian Natural Resources
Canadian Natural Resources (TSX:CNQ) is a Canadian integrated energy company that extracts, sells, and refines crude oil. The company’s stock has not been performing exceptionally well this year, being up only 0.5% for the year while the TSX is up 21%. As a result of the underperformance, CNQ has a 5.3% dividend yield.
You’d have to assume there is at least some logic for investors selling CNQ stock this year, but as one of Canada’s most important energy companies, it will probably survive.
Telus
Telus (TSX:T) is a Canadian telco stock with a 7.6% dividend yield. The stock got its high yield through a combination of dividend hikes and a falling stock price. Canadian telcos have been getting hit hard in the markets this year due to their slow top line growth and shrinking margins. The industry just hasn’t been a great place to be. However, T does have a reliable customer base and a healthy balance sheet. At today’s rock bottom price, it might just be worth the investment.
Foolish bottom line
The TSX stock market has been red hot this past year and shows no signs of coming down. Dividend yields are naturally going lower. However, as the five stocks above demonstrate, it is possible to find 5% yielders if you know where to look.
