FINNING INTERNATIONAL INC. $22 - Toronto symbol

FINNING INTERNATIONAL INC. $22 (www.finning.com) has increased its quarterly dividend by 8.9%, to $0.1525 a share from $0.14. The new annual rate of $0.61 yields 2.8%. Finning sells heavy equipment to the mining industry, and lower commodity prices have hurt the stock. However, low resource prices also prompt its customers to repair their existing equipment instead of buying new gear. That should spur demand for Finning’s maintenance services, which supply 48% of its revenue. Buy.

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