The Globe and Mail reports in its Saturday edition that Canadian Imperial Bank of Commerce is one of the best dividend-paying stocks on the Toronto Stock Exchange. The Globe's Norman Rothery writes that CIBC is a stock beloved by risk-averse investors. The Globe has placed CIBC in its Dividend All-Stars portfolio. It is one of The Globe's top 20 dividend picks for 2024. CIBC is the fifth-largest bank in Canada based on its $57-billion market capitalization, and the third-largest Dividend All-Star this year. The Toronto-based company has a 10-per-cent return on equity, trades near 1.2 times book value, and nine times 12-month earnings estimates. It pays a 5.9-per-cent dividend yield and boosted its dividend per share by 5.9 per cent over the past year. The Globe reported on Nov. 7 and Feb. 14 that Desjardins Securities analyst Doug Young continued to rate CIBC "hold." The shares could then be had for $51.92 and $60.10. The Globe reported on Dec. 19 that BofA Securities upgraded CIBC to "neutral" from "underperform" when it was worth $60.91. The Globe reported on Feb. 21 that Scotia Capital analyst Meny Grauman had boosted CIBC to "sector outperform" from "sector perform." The shares could then be had for $62.82.