Investors in the U.S. should not overlook Canadian stocks, many of which have high dividend yields than their U.S. counterparts. There are many Canadian dividend stocks that have significantly higher yields and lower valuations than comparable U.S. peers.

The following 3 Canadian dividend stocks have high yields, along with attractive valuations as compared with similar U.S. companies.

Canadian Utilities (CDUAF)

Canadian Utilities is a utility company with approximately 5,000 employees. ATCO owns 53% of Canadian Utilities. Based in Alberta, Canadian Utilities is a diversified global energy infrastructure corporation delivering solutions in Electricity, Pipelines & Liquid, and Retail Energy. The company prides itself on having Canada’s longest consecutive years of dividend increases, with a 53-year streak.

On July 30th, 2025, Canadian Utilities announced its Q2 results for the period ending June 30th, 2025. Adjusted earnings were $88.3 million ($0.33 per share), up $2.9 million ($0.02 per share) year-over-year. The growth in adjusted earnings was primarily driven by growth in the rate base and stronger seasonal spreads in natural gas storage services in ATCO Energy Systems and ATCO EnPower.

This was partially offset by a lower return on equity (ROE), the completion of ECM funding recorded in the prior year, and lower compensation related to turbine availability guarantees at the Forty Mile wind facility. GAAP EPS for the quarter was $0.25.

Additionally, Canadian Utilities continued advancing major infrastructure projects, including the Yellowhead Mainline Project in Natural Gas Transmission and the Central East Transfer Out Project in Electricity Transmission. The company also invested $279.8 million in capital expenditures in Q2, with the majority allocated to regulated utilities within ATCO Energy Systems and ATCO Australia.

By benefiting from a stable business model, Canadian Utilities can slowly, but progressively, grow its earnings. The company consistently invests in new projects and benefits from the base rate increases, which grow at around 3% to 4% annually.

CDUAF currently yields 4.7%.

Enbridge Inc. (ENB)

Enbridge is an oil & gas company that operates the following segments: Liquids Pipelines, Gas Distributions, Energy Services, Gas Transmission & Midstream, and Green Power & Transmission. Enbridge bought Spectra Energy for $28 billion in 2016 and has become one of the largest midstream companies in North America. Enbridge was founded in 1949 and is headquartered in Calgary, Canada.

Enbridge produced relatively consistent distributable cash flow growth over the last decade. Enbridge put billions worth of projects into service over the last couple of years, and more growth projects are under construction, which includes new energy assets such as wind farms as well as hydrocarbon assets such as pipelines. According to management, growth will persist going forward, as Enbridge targets long-term cash flow per share growth of 5%-7%.

Enbridge is one of the largest pipeline operators in North America. Its vast asset footprint serves as a tremendous competitive advantage, as it would take tens of billions of dollars of investments from new market entrants if they wanted to be able to replace Enbridge’s assets. Competitive risks, therefore, are low.

Enbridge paid out less than 50% of its cash flows through 2016, but starting in 2017, its payout ratio rose to roughly two thirds of the cash flows that it generates. Still, it has a safe dividend backed by sufficient cash flow. The company has guided for meaningful dividend growth throughout the next couple of years. ENB has increased its dividend for 30 consecutive years and currently yields 5.6%.

BSR Real Estate Investment Trust (BSRTF)

BSR Real Estate Investment Trust, as it’s known today, was formed in 2012 when it was formally established as a REIT in 2012. At present, the company owns and manages more than two dozen garden-style multi-family communities totaling 6,802 units.

The properties are suburban class A and class B apartments that are strategically positioned in demographically and economically thriving Sunbelt cities. Almost all of BSRTF’s units are located in Dallas, Houston, Austin, and Oklahoma City, respectively.

On August 6th, BSRTF shared its financial results for the second quarter ending June 30th, 2025. The company’s total revenue dropped by 20.2% over the year-ago period to $33.7 million during the quarter. This was mostly due to the two-part $618.5 million sale of properties to AvalonBay completed in Q1 and Q2 2025.

Backing this out, the same community property revenue decreased by 0.2% year-over-year to $26.6 million in the quarter. BSRTF’s AFFO per unit decreased by 20.8% over the year-ago period to $0.19 for the quarter. The reduction in FFO from divestitures led to this drop in AFFO per share during the quarter.

Since its IPO in 2018, BSRTF’s AFFO per unit has gradually made its way higher. In the years ahead, we believe the company’s AFFO per unit can rise by 4.5% annually off an anticipated 2025 base of $0.81. This is because, as the new supply again dwindles in its major markets, this should help market rent per square foot to continue growing at a mid-single-digit clip annually.

BSRTF currently yields 4.5%.

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Bob Ciura has worked at Sure Dividend since October 2016. He oversees all content for Sure Dividend and its partner sites. Bob received a Bachelor’s degree in Finance from DePaul.