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Top pick Barrick Mining just raised its dividend a whopping 140% as it generates record earnings and continues its strategic asset reorganization.
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A Member of Pat McKeough’s Inner Circle asked for his advice on an ETF that focuses on Canadian finance firm common shares, preferred shares and corporate bonds.
Pat likes the high distribution rate but warns that rate may be unsustainable....
Pat likes the high distribution rate but warns that rate may be unsustainable....
DOREL INDUSTRIES $30.78 (Toronto symbol DII.B; TSINetwork Rating: Extra Risk) (514-934-3034; www.dorel.com; Shares outstanding: 32.3 million; Market cap: $1.0 billion; Dividend yield: 5.1%) reports that its sales rose 0.9% in the three months ended September 30, 2015, to $679.3 million from $673.0 million a year earlier (all figures except share price and market cap in U.S. dollars).
Earnings fell 35.1%, to $0.48 a share from $0.74. However, Dorel gets half of its sales from outside the U.S., and the high U.S. dollar cut its earnings by $0.28 a share in the latest quarter. Costs related to the company’s plan to shift juvenile-product manufacturing to Asia also weighed on its earnings.
The stock trades at a low 7.9 times Dorel’s forecast 2016 earnings of $2.94 a share. It yields a high 5.1%.
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Earnings fell 35.1%, to $0.48 a share from $0.74. However, Dorel gets half of its sales from outside the U.S., and the high U.S. dollar cut its earnings by $0.28 a share in the latest quarter. Costs related to the company’s plan to shift juvenile-product manufacturing to Asia also weighed on its earnings.
The stock trades at a low 7.9 times Dorel’s forecast 2016 earnings of $2.94 a share. It yields a high 5.1%.
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STANTEC INC. $33.13 (Toronto symbol STN; TSINetwork Rating: Extra Risk) (780-917-7288; www.stantec.com; Shares outstanding: 94.2 million; Market cap: $3.1 billion; Dividend yield: 1.3%) sells a range of consulting, project-delivery, design and technology services.
Its clients operate in a variety of industries, including oil and gas, transportation and construction.
In the three months ended September 30, 2015, Stantec’s acquisitions and the stronger U.S. dollar boosted its revenue by 14.0%, to $620.1 million from $544.2 million a year ago. However, earnings rose just 2.8%, to $49.9 million, or $0.53 a share, from $48.6 million, or $0.52. That was mostly due to the cost of integrating recently purchased firms.
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Its clients operate in a variety of industries, including oil and gas, transportation and construction.
In the three months ended September 30, 2015, Stantec’s acquisitions and the stronger U.S. dollar boosted its revenue by 14.0%, to $620.1 million from $544.2 million a year ago. However, earnings rose just 2.8%, to $49.9 million, or $0.53 a share, from $48.6 million, or $0.52. That was mostly due to the cost of integrating recently purchased firms.
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MITEL NETWORKS $11.40 (Toronto symbol MNW; TSINetwork Rating: Extra Risk)(613-592-2122; www.mitel.ca; Shares outstanding: 120.3 million; Market cap: $1.4 billion; No dividends paid) develops and markets products centred on business telephone systems, including technology that integrates land lines and mobile phones. The company also offers call centre and videoconferencing products.
In the three months ended September 30, 2015, Mitel’s revenue rose 7.2%, to $293.7 million from $274.0 million a year earlier (all figures except share price and market cap in U.S. dollars).
However, earnings per share fell 33.3%, to $0.12 from $0.18, as the stronger dollar lowered the value of the company’s international sales. Even so, that beat the consensus estimate of $0.07 a share.
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In the three months ended September 30, 2015, Mitel’s revenue rose 7.2%, to $293.7 million from $274.0 million a year earlier (all figures except share price and market cap in U.S. dollars).
However, earnings per share fell 33.3%, to $0.12 from $0.18, as the stronger dollar lowered the value of the company’s international sales. Even so, that beat the consensus estimate of $0.07 a share.
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RESTAURANT BRANDS INTERNATIONAL $36.59 (New York symbol QSR; TSINetwork Rating: Average) (905-845-6511; www.rbi.com; Shares outstanding: 476.4 million; Market cap: $17.4 billion; Div. Yield: 1.4%) is the world’s third-largest fast-food operator, after McDonald’s and Yum Brands, with 14,669 Burger King outlets and 4,845 Tim Hortons stores in 100 countries.
In the three months ended September 30, 2015, Restaurant Brands earned $162.7 million, up 26.8% from $128.3 million a year earlier. Earnings per share gained 25.9%, to $0.34 from $0.27, on more shares outstanding.
However, sales fell 8.4%, to $1.02 billion from $1.11 billion, as the high U.S. dollar hurt the contribution from Restaurant Brands’ overseas operations.
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In the three months ended September 30, 2015, Restaurant Brands earned $162.7 million, up 26.8% from $128.3 million a year earlier. Earnings per share gained 25.9%, to $0.34 from $0.27, on more shares outstanding.
However, sales fell 8.4%, to $1.02 billion from $1.11 billion, as the high U.S. dollar hurt the contribution from Restaurant Brands’ overseas operations.
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