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Canadian Growth Stocks: CGI Group, CAE Inc., Fortis Inc. Stock and more.

Topic: Growth Stocks

Updating Moody’s Corp, General Mills Inc., Philips Electronics N.V., and Encana Corp.

MOODY’S CORP. $70 (New York symbol MCO) has increased its dividend 14.3%, from $0.07 a share to $0.08. The new annual rate of $0.32 yields 0.5%. The stock fell below $50 in July 2006 on fears that rising interest rates would cut investor interest in new corporate debt securities, and hurt demand for Moody’s ratings. It has recovered as rates stabilized, but it’s expensive at 32 times earnings. Hold.

GENERAL MILLS INC. $58 (New York symbol GIS) has raised its dividend for the fourth time in just over two years. The new rate of $1.48 yields 2.6%. The company also plans to buy back more of its stock in 2007. Buy.

PHILIPS ELECTRONICS N.V. $37 (New York symbol PHG) hopes to capture a larger share of Asia’s mobile phone market, which could grow by 50% in 2007. It has licensed its brand to a Chinese company that will make low-cost phones under a five-year deal. Buy.

ENCANA CORP. $48 (Toronto symbol ECA) plans to cut capital spending by 6% in 2007, as it focuses on less-costly wells. That will let it double its dividend to $0.80 (1.7% yield). Buy.

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