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EXTENDICARE INC. $9.57 (Toronto symbol EXE; TSINetwork Rating: Extra Risk) (905-470-5534; www.extendicare.com; Shares outstanding: 88.0 million; Market cap: $825.7 million; Dividend yield: 5.0%) owns 62 long- and short-term senior-care facilities that can house 8,464 residents. It manages another 54 residences that are home to 6,426 seniors. Extendicare also operates 47 ParaMed Home Health Care branches in six provinces. ParaMed’s 10,900 staff members provide nursing care and other forms of assistance to clients who live in their homes. In late 2014, the company sold its 156 U.S. facilities for $231.1 million U.S. Extendicare has now deployed the cash from the sale....

STUART OLSON INC. $6.15 (Toronto symbol SOX; TSINetwork Rating: Speculative) (780-454-3667; www.stuartolson.com; Shares outstanding: 26.4 million; Market cap: $159.6 million; Dividend yield: 7.8%) mainly operates in Western Canada, with both government and private sector clients. Its services include building construction, commercial and industrial electrical contracting, earthmoving and industrial insulation. In the three months ended December 31, 2015, the company’s revenue fell 22.6%, to $283.1 million from $364.5 million a year earlier. The decline came from lower activity in the Alberta oil sands and across the province. The company is also phasing out less profitable industrial projects. Before one-time items, Stuart Olson earned $2.1 million, or $0.08 a share. That’s up sharply from $1.2 million, or $0.05, a year earlier. The growth reflects the company’s focus on higher-profit activities. It ended the quarter with a backlog of $1.96 billion, down 1.3% from $1.99 billion....

DOMINO’S PIZZA $131.85 (New York symbol DPZ; TSINetwork Rating: Average) (734-930-3008; www.dominos.com; Shares outstanding: 49.9 million; Market cap: $6.5 billion; Dividend yield: 1.2%) has opened its 1,000th store in India, its fastest-growing international market. That’s up from 900 this past summer. The newest store is located in the Unity One Mall, in the capital of Delhi. Domino’s has more stores in India than in any other market outside the U.S. It’s also the largest pizza brand in India. The master franchisee for India is Jubilant FoodWorks, which first brought Domino’s to India in 1995....

CHEMTRADE LOGISTICS INCOME FUND $17.46 (Toronto symbol CHE.UN; TSINetwork Rating: Speculative) (416-496-5856; www.chemtradelogistics .com; Units outstanding: 69.1 million; Market cap: $1.2 billion; Dividend yield: 6.9%) reports that in the three months ended December 31, 2015, its revenue rose 7.1%, to $335.7 million from $313.3 million a year earlier. The gain mainly came from the higher U.S. dollar, which increased the contribution from the trust’s operations in that country. Overall cash flow fell 23.5%, to $38.1 million from $49.8 million. Cash flow per share fell 28.6%, to $0.55 from $0.77, on more shares outstanding. The declines came from one-time maintenance expenditures and a $10.2 million benefits plan settlement gain a year ago. Chemtrade’s high distribution looks safe; it pays monthly distributions of $0.10 a unit, for a 6.9% yield....

DEVON ENERGY $26.22 (New York symbol DVN; TSINetwork Rating: Speculative) (405-235-3611; www.dvn.com; Shares outstanding: 510.3 million; Market cap: $12.5 billion; Dividend yield: 0.9%) is undertaking a number of measures to conserve cash and shore up its balance sheet while it waits for oil and gas prices to recover. The company plans to cut its workforce by 20%. This will save it up to $500 million a year when combined with other cost cutting. Devon will also reduce its quarterly dividend by 75%, to $0.06 from $0.24. The shares now yield 0.9%. The dividend cut will save it $320 million a year. Devon plans to lower its exploration and development spending this year, to between $900 million and $1.1 billion. That’s down 75% from 2015. As well, the company will sell as many as 79.4 million shares at $18.75 each to raise $1.5 billion....

STANTEC INC. $30.47 (Toronto symbol STN; TSINetwork Rating: Extra Risk) (780-917-7288; www.stantec.com; Shares outstanding: 94.4 million; Market cap: $2.8 billion; Dividend yield: 1.5%) continues to grow by acquisition. Its latest is Bury Inc., a 300-person building design firm based in Austin, Texas. Bury’s recent projects include the George W. Bush Presidential Library in Dallas, and the redevelopment of Arizona State University’s Tempe campus. Stantec cuts its costs by sharing administrative expenses, financing and employee benefits among its divisions. But continually buying new firms adds risk, including the risk of writedowns....

DREAM OFFICE REIT $20.59 (Toronto symbol D.UN; TSINetwork Rating: Extra Risk) (416-365-3535; www.dream.ca/office; Units outstanding: 107.9 million; Market cap: $2.3 billion; Dividend yield: 7.3%) is up more than 23% since its recent announcement of a three-year strategic plan to push up its unit price. The trust will sell non-essential properties worth $1.2 billion to realize their full market value. These properties represent about 17% of its holdings. It will use some of the proceeds to pay down debt, and possibly to buy back units. The trust will also cut its annualized distribution by 33.0%, to $1.50 from $2.24. This will lower its payout ratio to 67% of forecast 2016 cash flow. Dream will also suspend its dividend reinvestment program. The DRIP has a high 38% participation rate. That program lets it conserve cash, but issuing more shares at low prices dilutes the interests of current unitholders. The units yield 7.3%....

WAJAX CORP. $16.85 (Toronto symbol WJX; TSINetwork Rating: Extra Risk) (905-212-3300; www.wajax.ca; Shares outstanding:20.0 million; Market cap: $335.9 million; Dividend yield: 5.9%) sells and services cranes, forklifts and other heavy equipment. It also provides related parts (such as ball bearings, motors, hoses and fittings) and power systems (including diesel engines and transmissions). The company’s customers are in the natural resource, construction, manufacturing and transportation industries. In the three months ended December 31, 2015, Wajax’s clients in mining and oil and gas made fewer purchases. As a result, revenue fell 16.0%, to $324.4 million from $386.1 million a year earlier. Earnings, excluding one-time items, declined sharply, to $4.0 million, or $0.20 a share, from $11.0 million, or $0.66....

MCCOY GLOBAL $1.90 (Toronto symbol MCB; TSINetwork Rating: Speculative) (780-453-8451; www.mccoyglobal.com; Shares outstanding: 27.7 million; Market cap: $54.6 million; No dividends paid) sold its heavy-duty truck-trailer unit in 2014 and is now focused on its Energy Products and Services segment. It sells hydraulic gear, including power tongs, for drilling rigs. (Power tongs are large wrench-like tools that tighten and loosen the pipe in the drill hole.) McCoy has international sales and service centres in Singapore, Dubai and Aberdeen, Scotland. In the three months ended December 31, 2015, McCoy’s revenue fell 57.2%, to $11.6 million from $27.2 million a year earlier. Low oil and gas prices prompted clients to cut back on equipment purchases....

Aecon Group Inc. continued to increase its revenue, earnings and dividend with a steady flow of public infrastructure and private road-building contracts.

Newmont’s share price has increased twice as much as the price of gold since January, which should help it expand operations and lower costs.

ALCOA INC. $8.54 (New York symbol AA; Conservative Growth Portfolio, Resources sector; Shares outstanding: 1.1 billion; Market cap: $9.4 billion; Price -to- sales ratio: 0.4; Dividend yield: 1.4%; TSINetwork Rating: Average; www.alcoa.com) continues to cut its bulk aluminum output in response to low prices. It’s also expanding its more profitable businesses, such as making parts for cars and airplanes.

Alcoa’s earnings fell 67.7% in 2012, to $262 million, or $0.24 a share. These figures exclude unusual items, such as gains on asset sales and costs to close plants. In 2011, the company earned $812 million, or $0.72 a share. Revenue fell 5.0%, to $23.7 billion from $25.0 billion. Aluminum shipments rose 3.2%, but average prices fell 11.7%.

The uncertain global economy will probably continue to dampen aluminum prices. However, Alcoa’s long-term outlook remains bright. It owns 25.1% of a joint venture that is building a new smelter in Saudi Arabia; a state-owned mining company owns the remaining 74.9%. This new plant, which should begin operating later this year, will have the lowest operating costs of all of Alcoa’s facilities.
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TECK RESOURCES LTD. $10 (Toronto symbol TCK.B; Conservative Growth Portfolio, Resources sector; Shares outstanding: 576.3 million; Market cap: $5.8 billion; Price-to sales ratio: 0.7; Dividend yield: 1.0%; TSINetwork Rating: Extra Risk; www.teck.com) is a leading producer of metallurgical coal, a key ingredient in steel making. Its six coal mines (five in B.C. and one in Alberta) account for 11% of global demand. Asian customers buy 75% of the company’s coal. In 2015, coal accounted for 37% of its revenue and 34% of its earnings. Teck also produces zinc (34%, 31%), which prevents rusting when added to steel. The company is a major supplier of copper (29%, 35%), and produces other metals, including gold, lead and molybdenum (which is used in steelmaking)....

IMPERIAL OIL LTD. $44 (Toronto symbol IMO; Conservative Growth and Income Portfolios, Shares outstanding: 847.6 million; Market cap: $37.3 billion; Price-to-sales ratio: 1.5; Dividend yield: 1.3%; TSINetwork Rating: Average; www.imperialoil.ca) is selling its 497 company-owned Esso gas stations to independent operators for $2.8 billion. Following the sale, franchisees will operate all of its 1,700 Esso stations across Canada. The buyers include Alimentation Couche-Tard (Toronto symbol ATD.B). It is purchasing 279 stations in Ontario and Quebec. (Alimentation Couche- Tard is a recommendation of Stock Pickers Digest, our newsletter that focuses on aggressive investments.) In addition, 7-Eleven Canada is getting 148 stations in Alberta and British Columbia. Parkland Fuel (Toronto symbol PKI), will buy 17 stations in Saskatchewan and Manitoba....

GREAT-WEST LIFECO INC. $35 (Toronto symbol GWO; Conservative Growth and Income Portfolios, Finance sector; Shares outstanding: 993.4 million; Market cap: $34.8 billion; Price-to-sales ratio: 1.0; Dividend Yield: 3.9%; TSINetwork Rating: Above Average; www.greatwestlifeco.com) is Canada’s second-largest insurance company, after Manulife Financial (Toronto symbol MFC). It also offers mutual funds, retirement planning and wealth management. Power Financial (Toronto symbol PWF) owns 71.4% of Great-West. As of December 31, 2015, the company had $1.2 trillion of assets under administration, up 14.0% from a year earlier. Great-West gets 43% of its earnings from Canada, where it operates under well-known labels Great-West Life, Canada Life and Freedom 55. The European division (42% of earnings) mainly sells group insurance and annuity products in the U.K., Ireland and Germany....

TORONTO-DOMINION BANK $55 (Toronto symbol TD; Conservative Growth and Income Portfolios, Finance sector; Shares outstanding: 1.9 billion; Market cap: $104.5 billion; Price-to-sales ratio: 3.3; Dividend yield: 4.0%; TSINetwork Rating: Above Average; www.td.com) earned $2.4 billion, or $1.18 a share, in its fiscal 2016 first quarter, which ended January 31, 2016. That’s up 5.8% from $2.1 billion, or $1.12, a year earlier. Earnings for its Canadian banks (62% of the total) rose 4.4%, thanks to strong loan demand and gains from the wealthmanagement and insurance businesses. Earnings from U.S. banking (31%) jumped 20.2%. That’s largely because the low Canadian dollar enhanced its profits. However, earnings from wholesale banking (7%) fell 16.1%. Lower stock trading volumes offset higher advisory fees on mergers and acquisitions. Revenue rose 13.1%, to $8.6 billion from $7.6 billion. However, TD set aside $642 million to cover potential future loan losses, up 77.3% from $362 million. That’s mainly because it recently acquired the U.S. credit card portfolio of department store Nordstrom’s (New York symbol JWN). As well, low oil prices could hurt the ability of energy producers to repay their loans. These borrowers represent less than 1% of TD’s overall loan portfolio....

IGM FINANCIAL INC. $36 (Toronto symbol IGM; Conservative Growth Portfolio, Finance sector; Shares outstanding: 243.6 million; Market cap: $8.8 billion; Price-to-sales ratio: 2.9; Dividend yield: 6.3%; TSINetwork Rating: Above Average; www. igmfinancial.com) is Canada’s largest independent mutual fund provider. Power Financial owns 60.1% of IGM. The company has two main divisions. Investors Group offers mutual funds and other services, such as portfolio management, through 5,300 affiliated advisors. This business forms close relationships with clients, which helps it retain them. In 2015, its redemption rate for long-term funds was 8.7%, well below the industry average of 15.4%. The other division, Mackenzie Financial, sells funds through independent brokers....

HOME CAPITAL GROUP INC. $36 (Toronto symbol HCG; Aggressive Growth Portfolio, Finance sector; Shares outstanding: 70.0 million; Market cap; $2.5 billion; Price-to-sales ratio: 4.2; Dividend yield: 2.7%; TSINetwork Rating: Average; www.homecapital.com) is a mortgage lender that serves borrowers who fail to meet the stricter standards of larger, traditional lenders, such as banks. Home Capital offers most of its loans through 4,000 independent mortgage brokers. In July 2015, it cut ties with 45 of them after it uncovered inaccurate information on loan applications. Specifically, these brokers falsified borrowers’ annual incomes but not their credit scores and property values. So far, Home Capital has reviewed 40% of these loans. Based on the results, it could renew 90% of these mortgages. The company expects to complete these reviews by the end of 2016....

EMERA INC. $47 (Toronto symbol EMA; Income Portfolio, Utilities sector; Shares outstanding: 145.3 million; Market cap: $6.8 billion; Price-to-sales ratio: 2.5; Dividend yield: 4.0%; TSINetwork Rating: Average; www.emera.com) has reached a deal to increase its ownership of Emera (Caribbean) Inc. From 95.6% to 100.0%. This publicly traded subsidiary holds Emera’s interests in power utilities in Barbados, Dominica and St. Lucia. Emera will cut administrative costs by taking full control. The company will pay roughly $16.5 million in cash and Emera stock for the additional stake. To put that in context, Emera earned $330.0 million, or $2.26 a share, in 2015....