5 Best High Dividend Stocks in Canada for 2022

2. Keyera Corp. (OTC:KEYUF)

Dividend Yield as of December 16: 6.90%

Keyera Corp. (OTC:KEYUF) is one of the biggest oil and gas transportation and storage companies from Canada, offering its services to major Canadian producers to bring their product to market. Keyera Corp. (OTC:KEYUF) deals in the safe transportation of propane, ethane, butane, condensate, and iso-octane, which are all natural gas liquids. 

On December 10, Keyera Corp. (OTC:KEYUF) announced a monthly dividend of C$0.16 per share, payable on January 17, 2022. Offering a high forward yield of 6.90%, Keyera Corp. (OTC:KEYUF) is one of the best dividend stocks in Canada for 2022.

In the third quarter, on November 3, Keyera Corp. (OTC:KEYUF) reported an adjusted EBITDA of C$214 million, an increase as compared to C$196 million in Q3 2020. Keyera Corp. (OTC:KEYUF) also published a GAAP EPS of C$0.32 for the period. 

Wells Fargo analyst Praneeth Satish on December 16 downgraded Keyera Corp. (OTC:KEYUF) to Equal Weight from Overweight with a price target of C$29, down from C$34. The analyst sees a full valuation at current share levels and expects minimal share buybacks in the near-term.