10 High Performing Canadian Dividend Stocks in Jan 2026

Dividend-paying stocks with healthy balance sheets and high yields can provide steady income and cushion against market downturns. In January, top-performing Canadian dividend stocks included Methanex, Suncor Energy, and Exchange Income Corp. These companies were screened from the Morningstar Canada Index, which measures Canada’s broad regional markets, based on a forward dividend yield of at least 1.5%, excluding real estate investment trusts.

The top 10 dividend stocks of January were led by Methanex, which climbed 19.34%, followed by Suncor Energy, which gained 18.14%, and Exchange Income Corp, which rose 16.19%. Other top performers included Imperial Oil, Cenovus Energy, and Tamarack Valley Energy.

The Morningstar Canada Dividend Growth Index rose 1.69% in January, while the Morningstar Canada Dividend Yield Focus Index lost 0.29%. Over the past 12 months, the Dividend Growth Index gained 21.65%, and the Dividend Yield Focus Index gained 25.32%. The overall Canadian stock market gained 0.68% in January and 28.65% over the past 12 months.

The top-performing dividend stocks had forward dividend yields ranging from 1.54% to 3.56%. For example, Methanex had a forward dividend yield of 1.54%, while Suncor Energy had a yield of 3.33%, and Russel Metals had a yield of 3.56%.