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Canadian stocks built on the Monday momentum, as the S&P/TSX Composite Index was up over 350 points in late-morning trading on December 7. Still, investors with extra cash should look to snatch up dividend stocks that are still undervalued after the market pullback. Today, I want to look at three income-yielding equities that are worth your attention. Let’s jump in.

Here’s why this dividend stock offers even better value in early December

Last month, I’d looked at some of the top dividend stocks to scoop up before December. Rogers Communications (TSX:RCI.B)(NYSE:RCI) is one of the top telecoms in Canada. Its stock took a dip due to an internal power struggle that was thankfully settled in the previous month. Shares of Rogers have dropped 2.7% in 2021 at the time of this writing.

In mid-November, Rogers announced a CEO transition from Joe Natale to Tony Staffieri. The CRTC held hearings on the impending Rogers-Shaw deal. Fortunately for Rogers, the deal will move forward. In Q3 2021, Rogers saw its Media segment return to positive EBITDA while also delivering positive Wireless postpaid net subscriber growth.

Shares of this dividend stock possess a favourable price-to-earnings (P/E) ratio of 18. It offers a quarterly dividend of $0.50 per share, which represents a 3.3% yield.

TD Bank just capped off a fantastic fiscal year

TD Bank (TSX:TD)(NYSE:TD) is the second-largest financial institution in Canada. It unveiled its last batch of 2021 results along with its peers in early December. Shares of this dividend stock have climbed 32% in 2021 at the time of this writing. TD Bank recovered quickly from the late-November dip after its earnings release.

The bank delivered adjusted net income of $3.86 billion, or $2.09 per share, in the fourth quarter of 2021 — up from $2.97 billion, or $1.60 per share, in the previous year. Net income in Canadian Retail rose 19% year over year to $2.13 billion. Meanwhile, its U.S. Retail segment earnings shot up 58% to $1.37 billion. It was powered by higher revenues and lower provisions for credit losses.

This dividend stock last had an attractive P/E ratio of 12. It last declared a quarterly dividend of $0.89 per share — a 10% increase. That represents a 3.7% yield.

Snatch up this dividend stock on the dip today

TC Energy (TSX:TRP)(NYSE:TRP) is a Calgary-based energy infrastructure company. Shares of this dividend stock have increased 14% in 2021. The stock has dipped 5.2% over the past month.

In Q3 2021, the company delivered net income of $779 million, or $0.80 per share — down $125 million, or $0.16 per common share in the prior year. Meanwhile, comparable EBITDA fell to $2.2 billion. TC Energy suffered from the impact of lower flow-through depreciation and financial charges from Canadian Natural Gas Pipelines. The only bright spot was in its U.S. Natural Gas Pipelines segment. A weak U.S. dollar has been a considerable drag on its profitability, but this has been offset in part by improved conditions in the broader oil and gas space.

Shares of this dividend stock possess a middling P/E ratio of 31. However, it offers a quarterly dividend of $0.87 per share. This represents a strong 5.8% yield.

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