5 Best Canadian Dividend Stocks To Buy Now

2. Keyera Corp. (OTC:KEYUF)

Dividend Yield as of November 28: 6.46%

Keyera Corp. (OTC:KEYUF) is one of Canada’s largest midstream oil and gas operators. The company mainly provides services to oil and gas producers in Western Canada and also transports natural gas liquids. Since the start of 2022, the stock has delivered a 3.21% return to shareholders while its 12-month return came in at 2.81%, as of the close of November 27.

In the third quarter of 2022, Keyera Corp. (OTC:KEYUF) reported strong earnings. The company’s net earnings came in at $123 million, up from $70 million in the same period last year. Its distributable cash flow for the quarter stood at $162 million, compared with $149 million in the prior-year period. Its cash flow was stable as the company paid over $106 million to shareholders in dividends, which takes the company’s payout ratio to 65%. KEYUF is one of the best dividend stocks on our list.

Keyera Corp. (OTC:KEYUF) currently pays a quarterly dividend of C$0.16 per share and has a dividend yield of 6.46%, as of November 28.