Are you in search of deeply discounted dividend shares to snap up on the TSX as we speak?

Fact be informed, they’re not the best issues to seek out. The TSX has set a number of all-time highs this yr and is at present expensive by historic requirements, buying and selling at 21.1 instances earnings. The TSX is definitely not in an excessive bubble or something like that, however it’s not a discount. Low cost shares are getting rarer by the day.

Nonetheless, there are some pockets of worth if the place to search for them.

On this article, I share three TSX shares that look discounted at as we speak’s worth.

Goeasy

Goeasy (TSX:GSY) is a direct-to-consumer lender. As a non-bank lender, it doesn’t use deposits as a major supply of funding. As an alternative, it sells debt and fairness so as to give you the cash to mortgage to Canadians.

One other distinction between goeasy and a financial institution is the scale of its loans. Sometimes, the corporate loans out small quantities of cash, wanted to purchase furnishings or electronics. It conducts these actions by way of its subsidiaries EasyHome and EasyFinancial. It doesn’t challenge massive loans like mortgages.

Going by multiples, goeasy is a fairly low cost inventory. On the time of this writing, it’s buying and selling at 9.7 instances earnings, 3.3 instances gross sales, and a couple of.1 instances e book worth. This isn’t precisely deep worth territory, however it’s cheaper than the TSX Composite Index in addition to the TSX financials sub-index.

Suncor Vitality

Suncor Vitality Inc (TSX:SU) is a Canadian power firm that’s concerned in exploration, manufacturing, refining and fuel stations. The corporate is certainly one of Canada’s most vital power corporations, supplying energy to Canadians by way of fuel stations and to company clients by way of crude oil exports. The power agency has refinery operations in Colorado and markets pure fuel throughout North America. Like many Canadian oil corporations, Suncor struggled after oil costs crashed in 2015. Nevertheless, a large spike in oil costs in 2022 gave Suncor a window of alternative to promote its oil at very excessive costs. It used the chance to pay down debt. The corporate is now a lot stronger than it was for many of the final 10 years. Regardless of this, SU inventory continues to be low cost, buying and selling at simply 11.6 instances earnings.

EQB Inc

EQB Inc (TSX:EQB) is a Canadian financial institution. It’s the largest branchless Canadian financial institution, with $35.7 billion in deposits and $54 billion in whole belongings. Though these numbers are tiny in comparison with the deposits and belongings of the Huge Six banks, they’re however vital for a branchless financial institution.

What does EQB have going for it?

First, it has increased historic progress than Canada’s bigger banks, having roughly doubled its earnings since 2016 and compounded its dividend by a 23.3% CAGR over the past 5 years.

Second, it has no branches and decrease overhead prices than its rivals do.

Third and at last, the financial institution’s deposits are overwhelmingly GICs, a extra dependable supply of funding than demand deposits.

EQB seems poised for fulfillment, but its inventory is definitely low cost, buying and selling at a mere 9.3 instances earnings. That’s cheaper than the massive banks as of late, so buyers might want to try EQB inventory.