Every Tuesday we bring you “Best Canadian Stocks.” You get our specific recommendations on the stocks we profile, with a full explanation of how we arrived at our opinion. You’ll read about stocks making moves you should know about, from coverage in one of our three newsletters featuring Canadian stocks—The Successful Investor, Stock Pickers Digest and Canadian Wealth Advisor.
We continue to recommend that investors aim to own two or more of Canada’s big five banks. But we also feel that conservative investors should further diversify their Finance-sector holdings with stocks like Great-West Lifeco.
GREAT-WEST LIFECO (Toronto symbol GWO; www.greatwestlifeco.com) has reported strong results in its latest quarter and raised its dividend.
Great-West is Canada’s largest insurance company. It also offers mutual funds and wealth management. Power Financial owns 67.0% of Great-West.
The company’s earnings per share jumped 34.7% in the three months ended December 31, 2014, to $0.66 from $0.49 a year earlier. Revenue rose 33.1%, to $10.7 billion from $8.1 billion.
Confident conservative investing at a time of uncertainty
Smart conservative investing gives you two big advantages. Your investments are safer when the market is down—and you’re in a stronger position to profit when the markets move up.
Pat McKeough’s approach to smart conservative investing gives you two big advantages. Your investments are safer when the market is down—and you’re in a stronger position to profit when the markets move up. Pat’s safety-first philosophy is simple and always effective. You can achieve surprisingly powerful results through income and capital gains. And you never need to take big risks.
Dividend stocks: Following 6% raise in quarterly dividend Great-West has 3.7% yield
Great-West has also raised its quarterly dividend by 6.0%, to $0.3260 a share from $0.3075. The new annual rate of $1.30 yields 3.7%.
The company continues to expand in Ireland. It recently agreed to pay an undisclosed sum for the Irish operations of Legal & General Group plc. This business provides investment and tax-planning services to wealthy individuals.
Legal & General looks like a nice fit with Irish Life, a leading pension manager and insurance firm Great-West acquired in 2013.
Great-West’s sharply improved revenue and profits are in large part thanks to Irish Life’s contribution and savings from eliminating duplicate functions.
Great-West is a buy for safety-conscious investors in Canadian Wealth Advisor.
Tomorrow in our Investor Toolkit, we give you tips on how to make the right decisions when you need to sell stocks.
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The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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Legal Notices and Disclaimers
The contents of this web site and our publications are based upon sources of information believed to be reliable, but no warranty or representation, expressed or implied, is given as to their accuracy or completeness. Any opinion reflects the Successful Investor’s judgment at the date of publication and neither the Successful Investor, nor any of its affiliated companies, nor any of their officers, directors or employees, accepts any responsibility in respect of the information or recommendations contained in the publications or on this web site. Moreover, the information or recommendations are subject to change without notice.
Information presented on this web site or contained in our publications is not an offer, nor a solicitation, to buy or sell any securities referred to on the web site or in the publications. The material is general information intended for recipients who understand the risks associated with an investment in any securities referred to in the publications or on this web site. The Successful Investor has made no determination regarding whether an investment, course of action, or associated risks are suitable for the recipient.
Every Tuesday we bring you “Best Canadian Stocks.” You get our specific recommendations on the stocks we profile, with a full explanation of how we arrived at our opinion. You’ll read about stocks making moves you should know about, from coverage in one of our three newsletters featuring Canadian stocks—The Successful Investor, Stock Pickers Digest and Canadian Wealth Advisor.
