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Investors in the US 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.

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%.

Magna International (MGA)

Magna International Inc. is dual-listed on the New York Stock Exchange and the Toronto Stock Exchange, where it trades under the tickers ‘MGA’ and ‘MG’, respectively. Magna reports financial results in U.S. dollars. All figures in this report are denominated in U.S. dollars. The company began working with General Motors (GM) back in 1957. Since then, it has become the largest automotive supplier in North America and the fourth-largest in the world.

Magna reported its Q2 2025 results on 08/01/2025, noting “ongoing industry headwinds including soft volumes in North America and Europe and continued trade policy uncertainty.” For the quarter, its sales were $10.6 billion – 3.0% lower versus a year ago, as light vehicle production fell 6% and 2%, respectively, in North America and Europe.

That said, with the help of solid execution, it posted income from operations before income taxes of $496 million, up 16% from a year ago, while adjusted earnings before interest and taxes (“EBIT”) rose 1% to $583 million. Ultimately, adjusted earnings per share (“EPS”) came in $1.44, up 6.7% year over year (“YOY”). Year-to-date, sales fell 5.6% to $20.7 billion, income from operations before income taxes was $525 million (up from $322 million a year ago), adjusted EBIT fell 10% to $937 million, and adjusted EPS fell 9.0% to $2.22.

Magna updated its 2025 sales forecast to $40.4-$42.0 billion and adjusted EBIT margin to 5.2-5.6%. It expects interest expense of about $210 million and anticipates income tax rate of ~25%. As a result, we update our 2025 EPS estimate to $5.08 based on this guidance.

As one of the leading automotive suppliers in the world with about 338 manufacturing operations, Magna benefits from some economies of scale. It’s also innovating by investing in electrification and autonomy, which should help keep the company’s product offerings relevant.

MGA has increased its dividend for 15 years and currently yields 4.3%.

West Fraser Timber Co. (WFG)

West Fraser Timber is a diverse manufacturer of wood products with over 60 locations in Canada, the United States, the United Kingdom, and Europe. The company produces pulp, newspaper, wood chips, various residuals, lumber, engineered wood products (OSB, LVL, MDF, plywood, and particleboard), and renewable energy.

WFG’s products are used in industrial applications, papers, tissue, packaging materials, house building, maintenance, and renovation.

WFG’s business segments comprise of Lumber Segment, North America Engineered Wood Products, Pulp & Paper Segment, and Europe Engineered Wood Products Segment, with the primary business segments being Lumber Segment and North American Engineered Wood Products segment constituting 46.7% and 40.6% of annual revenues.

On July 24th, 2025, West Fraser Timber announced Q2 2025 results, reporting GAAP EPS of $0.38, which beat the market’s estimates by $1.27, and revenues of $1.53 billion that were down 10.5% year-over-year.

Adjusted EBITDA came in at $84 million (6% of sales), down from $195 million in Q1, reflecting softer demand in North American Engineered Wood Products (NA EWP) and lumber markets as U.S. housing starts and new home construction activity moderated.

WFG currently yields 1.8%.

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