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GREAT-WEST LIFECO $36.60 (Toronto symbol GWO; Shares outstanding: 993.2 million; Market cap: $36.4 billion; TSINetwork Rating: Above Average; Yield: 3.8%; www.greatwestlifeco.com) is one of Canada’s largest insurance firms. The company also offers mutual funds and wealth management services. Power Financial owns 67.2% of Great-West. In the past few years, the insurer has expanded its presence in Ireland. In July 2013, it paid $1.75 billion for Irish Life, that country’s largest pension manager and life insurance provider. Irish Life has now announced two purchases: it is buying Aviva Health, and increasing its stake in GloHealth from 49% to 100%....
TD BANK $55.77 (Toronto symbol TD; Shares outstanding: 1.9 billion; Market cap: $103.5 billion; TSINetwork Rating: Above Average; Dividend yield: 3.9%; www.td.com) is the first Canadian bank to use Visa’s new tokenization technology in its mobile banking app. This system uses encrypted “tokens” instead of credit card numbers and other account information. That helps protect sensitive client information from online intruders. It also speeds up mobile payments and other transactions. Better security should encourage more of TD’s customers to do their banking online. That would cut its costs as electronic transactions are cheaper to process than those in physical branches....
RIOCAN REIT $27.17 (Toronto symbol REI.UN; Units outstanding: 322.4 million; Market cap: $8.8 billion; TSINetwork Rating: Average; Dividend yield: 5.2%; www.riocan.com) formed a 50/50 joint venture in July 2012 with ALLIED PROPERTIES REIT $35.35 (Toronto symbol AP.UN; Units outstanding: 78.5 million; Market cap: $2.8 billion; TSINetwork Rating: Extra Risk; Dividend yield: 4.2%; www.alliedreit.com). Their goal was to purchase buildings in urban areas and “intensify” their revenue and cash flow, mainly by adding tenants. RioCan manages the retail portion of these developments, while Allied handles the office portion. The partners own the King-Portland Centre in downtown Toronto, among others. They are now building a new office/retail structure on the site. This week, online shopping firm Shopify Inc. agreed to become the anchor tenant for the building. RioCan and Allied expect to complete this project in 2018....
ENBRIDGE INC. $50.95 (Toronto symbol ENB; Shares outstanding: 924.3 million; Market cap: $47.5 billion; TSINetwork Rating: Above Average; Divd. yield: 4.2%; www.enbridge.com) has received Canadian regulatory approval to replace its Line 3 pipeline, which began operating in the 1960s. It pumps crude oil from Hardisty, Alberta, to Superior, Wisconsin. U.S. regulators have already approved the plan. The project will also enlarge the line’s capacity, from 390,000 barrels a day to 760,000 barrels. Enbridge expects to complete these upgrades by 2019. Regulators have imposed 89 conditions on the project—mainly additional measures to improve safety and environmental protections. But these conditions are unlikely to increase the project’s $7.5 billion cost....