No. RY, TD, ENB, BCE and the rest of this list are cross-listed ordinary shares — the same security that trades in Toronto, admitted to the New York Stock Exchange directly. There is no depositary bank, no ADR ratio and no ADR service fee skimmed off the dividend. That is why they do not appear on our foreign/ADR page: technically they are not ADRs at all.

Because the dividend is declared in Canadian dollars and the New York listing trades in US dollars. Divide the CAD dividend by the USD price and you overstate the yield by roughly 1 ÷ 0.720, about 39% at today's rate. Enbridge reads 7.55% that way against 5.52% done properly. We convert the declared dividend at 0.7196 USD/CAD first, which is why our numbers look lower and are right.

15% at source for a US resident under the US-Canada treaty, recoverable in a taxable account as a foreign tax credit. Inside an IRA, Roth IRA or 401(k) the treaty exempts US retirement accounts entirely, so nothing is normally withheld — Canada is the one major foreign market that is better held in a retirement account than a taxable one.

BIP at 5.02%, against a median of 2.37% across the 40 names here. One name is flagged and excluded from that headline because its trailing rate has not caught up with a declared cut. Yields are USD-converted, so they are directly comparable with a US payer rather than flattered by the exchange rate.

Yes, and it is the part investors forget. The board sets the payment in Canadian dollars; your broker converts each one on the day it is paid. A 5% move in USD/CAD is a 5% move in the income you actually bank, in either direction, even if the company never changes its dividend. Over the past twelve months the rate moved -0.74%, so the same Canadian dividend paid almost exactly the same in US dollars. Over a decade currency has moved these payments more than most of the companies did.

Yes. The rate behind every yield here is the last payment the company actually declared, annualised — not the trailing twelve months. When Telus reset its quarterly dividend 55% lower in July 2026, effective with the October payment, a trailing calculation still showed a double-digit yield for months. Ours dropped to the new level the day the cut was declared, and the row carries a "cut" badge showing the size of the change. We keep the trailing figure for genuinely variable payers, where annualising one payment would be a guess rather than a forecast.

They have paid dividends continuously for well over a century, which is not the same as raising them every year. The big five tend to hold the dividend flat through a downturn instead of cutting it, so a consecutive-increase counter resets while the payment itself never stops. Both facts are worth knowing, but only the second one is what most "streak" tables are measuring.