GREAT-WEST LIFECO $30.32 - Toronto symbol GWO

GREAT-WEST LIFECO $30.32 (Toronto symbol GWO; Shares outstanding: 999.3 million; Market cap: $30.5 billion; TSINetwork Rating: Above Average; Yield: 4.1%; www.greatwestlifeco.com) acquired the London Life insurance company in 1997.

In response, former London Life policyholders launched a class-action lawsuit accusing Great- West of using $220 million of London Life’s surplus funds, which they felt belonged to them, to finance the deal.

In 2010, a court ordered Great-West to pay $455.7 million in damages. The company appealed the ruling, and last year a higher court cut the award to $284.6 million.

The Ontario Court of Appeals has now cut the damages to $51.6 million. Either side could take the case to the Supreme Court of Canada, but the new judgment is small next to the $717 million Great-West earned in its latest quarter.

Great-West Lifeco is a buy.

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Blue chip stocks are big, well-established, dividend-paying corporations with strong business prospects. These are companies that also have sound management that should be able to make the right moves to keep competing successfully in a changing marketplace.

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Dividend stocks make cash payouts that serve as a way for companies to share the wealth they’ve accumulated. These payouts are drawn from earnings and cash flow and paid to the shareholders of the company. Typically, these dividends are paid quarterly, although they may be paid annually or even monthly as well.

Value Stocks

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One of the sweetest and most profitable pleasures of successful investing is to buy high-quality “value stocks” (or stocks that are reasonably priced, if not cheap, in relation to its sales, earnings or assets), then hold on to them as mainstream investors recognize the value and push up the share price.

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