Improved demand for legal, tax and accounting information led to a 5.7% revenue bump for this company during the most-recent quarter.
A recent asset sale and cost cutting should help boost the dividend in years to come, making it a highly desirable pick for buy-and-watch strategies.
Meanwhile the stock trades at 32.3 times the company’s 2022 earnings forecast.
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THOMSON REUTERS CORP. (Toronto symbol TRI; www.thomsonreuters.com) sells specialized information and software to the legal, tax and accounting fields.
The company also holds shares in the London Stock Exchange Group plc following the January 2021 sale of its Refinitiv financial information business. That stake is now worth $7.2 billion U.S. Thomson plans to sell those shares over the next few years and use the cash to increase your dividend.
Thomson last raised your quarterly dividend with the March 2022 payment. Investors now receive $0.445 U.S. a share, up 9.9% from $0.405 U.S. The new annual rate of $1.78 U.S. yields 1.8%.
The company reports that its revenue in the three months ended March 31, 2022, rose 5.7%, to $1.67 billion from $1.58 billion a year earlier (all amounts in U.S. dollars). That’s due to growing demand for its legal, tax and accounting information products as the global economy re-opens.
Under a new strategic plan, Thomson will spend $600 million this year to upgrade its computer hardware systems. So far, the plan has cut annual costs by $305 million. Those savings give it more room to boost your dividend.
Recommendation in Dividend Advisor: Thomson Reuters Corp. is a buy.
Comments
Lex
what do you really provide anyone. unless you sign up for the total package one does not get real info.that will help make decisions. it looks like a barrage of info. that does not help much.
The Globe and Mail seems to provide just as much.
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Canadian Blue Chip Stocks:
Bank of Nova Scotia, CP Rail, CAE Inc. and more.
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X No, I don’t want to make big money from blue-chip stocks.
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what do you really provide anyone. unless you sign up for the total package one does not get real info.that will help make decisions. it looks like a barrage of info. that does not help much.
The Globe and Mail seems to provide just as much.