Dividend cycles

Dividend paying companies mostly pay dividends quarterly, although some pay monthly. Over the course of a year, there are three dividend cycles that occur. Companies that make their quarterly dividend payments in:
 * January, April, July and October
 * February, May, August and November
 * March, June, September and December.

Investors might use this information to structure their dividend income cash flow throughout the year.

The dividend cycles below are included for the convenience of investors, and are not meant as a recommendation. Also, some companies may switch from one month to another if the final day of one month or the first day of the next lies on a weekend or holiday.

The stock sector descriptions vary from source to source; those used are generally taken from the descriptions in iShares Core S&P/TSX Capped Composite Index ETF (XIC) and are sometimes different from the sector descriptions used at the stock quotation source, the Toronto Stock Exchange. There are ten sectors defined in the Global Industry Classification Standard (GICS) system.

Cycle 1: dividends paid in January, April, July, and October (JAJO)

 * {| class="wikitable sortable" style="margin:auto; border="1" cellpadding="0.2px" cellspacing="0" cellpadding="4" style="border-collapse: collapse;"

! align="center" width="200" |Company ! align="center" width="200" |Stock Symbol ! align="center" width="200" |Sector ! align="center" width="100" |Dividend currency
 * AGF Management Ltd. ||tsx: AGF.B ||Financials||CAD
 * Algonquin Power || tsx: AQN || Utilities||USD
 * Bank of Nova Scotia ||tsx: BNS ||Financials||CAD
 * BCE ||tsx: BCE ||Telecommunications||CAD
 * Cameco ||tsx: CCO ||Energy||CAD
 * Canadian Natural Resources||tsx: CNQ ||Energy||CAD
 * Canadian Pacific Railway||tsx: CP ||Industrials||CAD
 * Capital Power ||tsx: CPX ||Utilities||CAD
 * Canadian Imperial Bank Of Commerce (CIBC) ||tsx: CM||Financials||CAD
 * Empire || tsx: EMP.a||Consumer Staples||CAD
 * George Weston ||tsx: WN ||Consumer Staples||CAD
 * Gildan Activewear ||tsx: GIL ||Consumer Discretionary||USD
 * IGM Financial ||tsx: IGM ||Financials||CAD
 * Imperial Oil ||tsx: IMO||Energy||CAD
 * Manitoba Telecom ||tsx: MBT ||Telecommunications||CAD
 * North West Company ||tsx: NWC||Consumer Staples||CAD
 * Nutrien || tsx: NTR || Materials || USD
 * Rogers Communications ||tsx: RCI.A RCI.B ||Telecommunications||CAD
 * Stantec ||tsx: STN||Industrials||CAD
 * Stella Jones ||tsx: SJ||Industrials||CAD
 * Sun Life ||tsx: SLF||Financials||CAD
 * TD Bank ||tsx: TD ||Financials||CAD
 * Teck Resources||tsx: TCK.a TCK.b||Materials||CAD
 * Telus ||tsx: T||Telecommunications||CAD
 * TransAlta ||tsx: TA ||Utilities||CAD
 * TransCanada Corporation ||tsx: TRP ||Energy||CAD
 * Valener Inc. ||tsx: VNR ||Energy||CAD
 * Yamana Gold ||tsx: YRI||Materials||CAD
 * }
 * Manitoba Telecom ||tsx: MBT ||Telecommunications||CAD
 * North West Company ||tsx: NWC||Consumer Staples||CAD
 * Nutrien || tsx: NTR || Materials || USD
 * Rogers Communications ||tsx: RCI.A RCI.B ||Telecommunications||CAD
 * Stantec ||tsx: STN||Industrials||CAD
 * Stella Jones ||tsx: SJ||Industrials||CAD
 * Sun Life ||tsx: SLF||Financials||CAD
 * TD Bank ||tsx: TD ||Financials||CAD
 * Teck Resources||tsx: TCK.a TCK.b||Materials||CAD
 * Telus ||tsx: T||Telecommunications||CAD
 * TransAlta ||tsx: TA ||Utilities||CAD
 * TransCanada Corporation ||tsx: TRP ||Energy||CAD
 * Valener Inc. ||tsx: VNR ||Energy||CAD
 * Yamana Gold ||tsx: YRI||Materials||CAD
 * }
 * Teck Resources||tsx: TCK.a TCK.b||Materials||CAD
 * Telus ||tsx: T||Telecommunications||CAD
 * TransAlta ||tsx: TA ||Utilities||CAD
 * TransCanada Corporation ||tsx: TRP ||Energy||CAD
 * Valener Inc. ||tsx: VNR ||Energy||CAD
 * Yamana Gold ||tsx: YRI||Materials||CAD
 * }
 * TransCanada Corporation ||tsx: TRP ||Energy||CAD
 * Valener Inc. ||tsx: VNR ||Energy||CAD
 * Yamana Gold ||tsx: YRI||Materials||CAD
 * }
 * Yamana Gold ||tsx: YRI||Materials||CAD
 * }
 * }

Cycle 2: dividends paid in February, May, August, and November (FMAN)

 * {| class="wikitable sortable" style="margin:auto; border="1" cellpadding="0.2px" cellspacing="0" cellpadding="4" style="border-collapse: collapse;"

! align="center" width="200" |Company ! align="center" width="200" |Stock Symbol ! align="center" width="200" |Sector ! align="center" width="100" |Dividend currency
 * Bank of Montreal ||tsx: BMO ||Financials||CAD
 * Emera ||tsx: EMA||Utilities||CAD
 * Emera ||tsx: EMA||Utilities||CAD
 * Emera ||tsx: EMA||Utilities||CAD
 * Jean Coutu Group||tsx: PJC.A||Consumer Staples||CAD
 * Laurentian Bank ||tsx: LB||Financials||CAD
 * National Bank ||tsx: NA||Financials||CAD
 * Power Financial ||tsx: PWF ||Financials||CAD
 * Metro ||tsx: MRU||Consumer Staples||CAD
 * Royal Bank ||tsx: RY ||Financials||CAD
 * }
 * Metro ||tsx: MRU||Consumer Staples||CAD
 * Royal Bank ||tsx: RY ||Financials||CAD
 * }
 * Royal Bank ||tsx: RY ||Financials||CAD
 * }

Cycle 3: dividends paid in March, June, September, and December (MJSD)

 * {| class="wikitable sortable" style="margin:auto; border="1" cellpadding="0.2px" cellspacing="0" cellpadding="4" style="border-collapse: collapse;"

! align="center" width="200" |Company ! align="center" width="200" |Stock Symbol ! align="center" width="200" |Sector ! align="center" width="100" | Dividend currency
 * Agnico-Eagle Mines||tsx: AEM||Materials||CAD
 * Alimentation Couche-Tard ||tsx: ATD.A ATD.B||Consumer Staples||CAD
 * Atco Ltd. ||tsx: ACO.X||Utilities||CAD
 * Barrick Gold ||tsx: ABX||Materials||USD
 * Brookfield Asset Management ||tsx: BAM.A||Financials||USD
 * Brookfield Infrastructure L.P. ||tsx: BIP.UN|| Utilities ||USD
 * Brookfield Renewable L.P. ||tsx: BEP.UN|| Utilities ||USD
 * Calian Technologies ||tsx: CTY ||Information Technology||CAD
 * Canadian Utilities ||tsx: CU ||Utilities||CAD
 * Canadian National Railways ||tsx: CNR ||Industrials||CAD
 * Canadian Tire Corp||tsx: CTC CTC.a ||Consumer Discretionary||CAD
 * Cenovus Energy ||tsx: CVE||Energy||CAD
 * Corby Spirit and Wine||tsx: CSW.A CSW.B||Consumer Discretionary||CAD
 * D+H ||tsx: DH||Financials||CAD
 * Dollarama || tsx: DOL ||Consumer Discretionary||CAD
 * Dorel Industries || tsx: DII.A DII.B||Consumer Discretionary||USD
 * Enbridge ||tsx: ENB||Energy||CAD
 * Encana ||tsx: ECA||Energy||USD
 * First Quantum Minerals||tsx: FM||Materials||CAD
 * Fortis ||tsx: FTS ||Utilities||CAD
 * Great West Lifeco ||tsx: GWO ||Financials||CAD
 * Hydro One Limited ||tsx: H ||Utilities||CAD
 * Industrial Alliance ||tsx: IAG ||Financials||CAD
 * Just Energy ||tsx: JE||Utilities||CAD
 * Loblaw Companies||tsx: L||Consumer Staples||CAD
 * Manulife ||tsx: MFC||Financials||CAD
 * Power Corp. ||tsx: POW||Financials||CAD
 * Saputo ||tsx: SAP||Consumer Staples||CAD
 * Silver Wheaton||tsx: SLW||Materials||USD
 * SNC-Lavalin Group||tsx: SNC||Industrials||CAD
 * Suncor Energy ||tsx: SU||Energy||CAD
 * Thomson Reuters||tsx: TRI||Consumer Discretionary||USD
 * }
 * Enbridge ||tsx: ENB||Energy||CAD
 * Encana ||tsx: ECA||Energy||USD
 * First Quantum Minerals||tsx: FM||Materials||CAD
 * Fortis ||tsx: FTS ||Utilities||CAD
 * Great West Lifeco ||tsx: GWO ||Financials||CAD
 * Hydro One Limited ||tsx: H ||Utilities||CAD
 * Industrial Alliance ||tsx: IAG ||Financials||CAD
 * Just Energy ||tsx: JE||Utilities||CAD
 * Loblaw Companies||tsx: L||Consumer Staples||CAD
 * Manulife ||tsx: MFC||Financials||CAD
 * Power Corp. ||tsx: POW||Financials||CAD
 * Saputo ||tsx: SAP||Consumer Staples||CAD
 * Silver Wheaton||tsx: SLW||Materials||USD
 * SNC-Lavalin Group||tsx: SNC||Industrials||CAD
 * Suncor Energy ||tsx: SU||Energy||CAD
 * Thomson Reuters||tsx: TRI||Consumer Discretionary||USD
 * }
 * Manulife ||tsx: MFC||Financials||CAD
 * Power Corp. ||tsx: POW||Financials||CAD
 * Saputo ||tsx: SAP||Consumer Staples||CAD
 * Silver Wheaton||tsx: SLW||Materials||USD
 * SNC-Lavalin Group||tsx: SNC||Industrials||CAD
 * Suncor Energy ||tsx: SU||Energy||CAD
 * Thomson Reuters||tsx: TRI||Consumer Discretionary||USD
 * }
 * SNC-Lavalin Group||tsx: SNC||Industrials||CAD
 * Suncor Energy ||tsx: SU||Energy||CAD
 * Thomson Reuters||tsx: TRI||Consumer Discretionary||USD
 * }
 * Thomson Reuters||tsx: TRI||Consumer Discretionary||USD
 * }
 * }
 * }

Monthly dividends

 * {| class="wikitable sortable" style="margin:auto; border="1" cellpadding="0.2px" cellspacing="0" cellpadding="4" style="border-collapse: collapse;"

! align="center" width="200" |Company ! align="center" width="200" |Stock Symbol ! align="center" width="200" |Sector ! align="center" width="100" |Dividend currency
 * Ag Growth ||tsx: AFN||Industrials||CAD
 * AltaGas ||tsx: ALA||Energy||CAD
 * ARC Resources ||tsx: ARX||Energy||CAD
 * Boardwalk REIT||tsx: BEI.UN||Financials||CAD
 * Boyd Group Income Fund||tsx: BYD.UN||Industry||CAD
 * Carfinco ||tsx: CFN.UN||Financial||CAD
 * Corus Entertainment ||tsx: CJR.B||Consumer Discretionary||CAD
 * Enbridge Income Fund || tsx: ENF||Energy||CAD
 * Enerplus||tsx: ERF||Energy||CAD
 * Goldcorp ||tsx: G||Materials||USD
 * H&R REIT ||tsx: HR.UN||Financials||CAD
 * HNZ Group ||tsx: HNZ.A HNZ.B||Industry||CAD
 * Inter Pipeline Fund ||tsx: IPL||Energy||CAD
 * Pembina Pipeline ||tsx: PPL||Energy||CAD
 * RioCan REIT||tsx: REI.UN||Financials||CAD
 * Shaw Communications||tsx: SJR.B||Consumer Discretionary||CAD
 * Veresen ||tsx: VSN||Energy||CAD
 * }
 * Goldcorp ||tsx: G||Materials||USD
 * H&R REIT ||tsx: HR.UN||Financials||CAD
 * HNZ Group ||tsx: HNZ.A HNZ.B||Industry||CAD
 * Inter Pipeline Fund ||tsx: IPL||Energy||CAD
 * Pembina Pipeline ||tsx: PPL||Energy||CAD
 * RioCan REIT||tsx: REI.UN||Financials||CAD
 * Shaw Communications||tsx: SJR.B||Consumer Discretionary||CAD
 * Veresen ||tsx: VSN||Energy||CAD
 * }
 * Pembina Pipeline ||tsx: PPL||Energy||CAD
 * RioCan REIT||tsx: REI.UN||Financials||CAD
 * Shaw Communications||tsx: SJR.B||Consumer Discretionary||CAD
 * Veresen ||tsx: VSN||Energy||CAD
 * }
 * Veresen ||tsx: VSN||Energy||CAD
 * }
 * }

Brokers and currency conversion
Most Canadian discount brokers now offer Canadian dollar and US dollar sub-accounts. When holding a USD paying dividend paying stock in a CAD denominated account, there is no consistent method of handling the USD-CAD conversion and the imbedded foreign exchange charge that results. Your first step should be to understand how your broker handles the conversion and at what, if any, cost of conversion exist for stocks that pay their dividends in USD. One method to eliminate the currency conversion cost is to hold stocks paying dividends in USD in the US dollar sub-account.