We’re just a little greater than half means by way of what’s already been a unstable month for shares. Many TSX dividend shares have had a rocky month, with the macro atmosphere persevering with to offer buyers with suits of uncertainty. Is a recession on the way in which? If that’s the case, that are the perfect and most defensive shares to personal proper now?

I’d argue that blue-chip dividend shares with strong steadiness sheets and powerful money movement profiles are the way in which to go. In that respect, there are a selection of high quality Canadian dividend shares value contemplating.

Listed below are three of my prime picks on this regard proper now.

Manulife Monetary

Insurance coverage and wealth administration large Manulife Monetary (TSX:MFC) is a wonderful dividend inventory for buyers in search of a 3.7% yield and portfolio stability to contemplate.

The corporate has seen spectacular outcomes of late, pushed by bettering portfolio efficiency as bond yields have come down, regulating the corporate’s margin and money movement profile through its earlier bets made in lengthy length property. As the corporate has continued following its long-term enterprise mannequin in buying long-dated debt and different property to offset its liabilities, this declining rate of interest atmosphere has been very useful to its current efficiency and general outlook.

I feel rates of interest are extra seemingly than to not proceed coming down over time. This issue, along with Manulife’s rock-solid money movement profile pushed by its core insurance coverage and wealth administration companies, makes for a profitable mixture for my part.

Restaurant Manufacturers

With a dividend yield of round 3.5% and a rock-solid defensive enterprise mannequin buyers are beginning to recognize, Restaurant Manufacturers (TSX:QSR) is beginning to really feel the love from the market.

Shares of the Tim Horton’s mum or dad, in addition to quite a few different world-class quick meals chains, has seen sturdy efficiency in current months, with the corporate’s share value flirting with breaching its all-time excessive degree.

I feel it is a inventory buyers have to have endurance with. However for these with a really long-term investing time horizon, selecting up a juicy yield and ready out this era of uncertainty within the markets looks like an excellent transfer. And with all of the trade-down we’re seeing in so many areas of the financial system, the corporate’s defensive place within the restaurant business makes this a prime inventory I feel is value contemplating for the long-haul proper now.

Cenovus

A riskier choose on my listing of prime dividend shares for buyers to contemplate proper now could be Canadian vitality large Cenovus (TSX:CVE).

This oil and fuel producer has carried out very nicely over the previous 5 years, with most of its outperformance coming for the reason that depressed pandemic period, the place crude oil costs truly went detrimental for a short while.

Since then, buyers have clearly reached for high quality, with Cenovus being among the many prime Canadian vitality shares home and worldwide buyers have flocked to.

I feel the dynamics within the vitality sector are extra seemingly than not going to be extra secure within the years to come back, due to the geopolitical backdrop we now discover ourselves in. For these in search of a 3.2% dividend yield and publicity to the vitality sector, it is a nice technique to go for my part.