The Dow Jones Canada Select Dividend Index represents the leading Canadian stocks by dividend yield. The index contains 30 stocks which are selected annually based on dividend yield.

The divided yield of this index is 4.37% as of July 30th. The annualized total return of the index is 10.65% in Canadian dollar terms. Financials account for about 61% of the total allocation.

The  Top 10 components of the Dow Jones Canada Select Dividend Index are:

1.Canadian Imperial Bank of Commerce(CM)
Current Dividend Yield: 4.82%

2.Bank of Montreal (BMO)
Current Dividend Yield: 4.43%

3.Toronto-Dominion Bank (TD)
Current Dividend Yield: 3.20%

4.National Bank of Canada (OTC: NTIOF)
Current Dividend Yield: 4.11%

5.Telus Corp (TU)
Current Dividend Yield: 4.92%

6.Bank of Novo Scotia (BNS)
Current Dividend Yield: 3.70%

7.Manitoba Telecom Services Inc (OTC: MOBAF)
Current Dividend Yield: 9.84% *

* Note: Manitoba cut its dividends by a third on August 6th and also lowered the outlook

8.Royal Bank of Canada (RY)
Current Dividend Yield: 3.72%

9.IGM Financial Inc(OTC: IGIFF)
Current Dividend Yield: 4.97%

10.Canadian Utilities Ltd(OTC: CDUAF)
Current Dividend Yield: 3.46%

Montreal-based National Bank of Canada is the 6th largest bank in Canada. The bank operates most of its branches in the French-speaking province of Quebec.