Canadian Imperial Bank of Commerce (Toronto symbol CM) is one of Canada's largest banks to invest in, offering a high-dividend yield of 4.8%. Canadian Imperial Bank of Commerce recently agreed to sell its 41% stake in U.S.-based wealth management firm American Century Investments (ACI) for $1 billion U.S. CIBC was unable to gain full control over ACI, which is why it decided to sell this investment. CIBC expects to realize a gain of $170 million U.S. when it completes the sale in mid-2016. The deal also frees up cash the bank can use to pursue other acquisitions. Meanwhile, Canadian Imperial Bank of Commerce has announced several plans to spur its growth, including spending less on branches and expanding its online and mobile-banking systems. It will also consolidate 120 data centres into a single facility. In all, the bank expects to spend $400 million on these moves over the next three years. But they will cut $600 million from its annual costs by 2019. These savings will also offset any potential losses on loans to oil and gas producers. At last report, these loans totalled $17.3 billion, which is a moderate 6% of CIBC's outstanding loans and credit commitments. Canadian Imperial Bank of Commerce is also seeing lower losses from credit cards, mainly because it sold half of its Aeroplan accounts to TD Bank when TD took over the plan in 2014. As a result, it set aside $771 million for potential bad loans in 2015, down 17.7% from $937 million in 2014. We consider CIBC a buy, and feel that most Canadian investor should own at least two of Canada's big-five banks To determine which stocks are best to invest in, use our three-part Successful Investor philosophy:
Invest mainly in well-established companies;
Spread your money out across most if not all of the five main economic sectors (Manufacturing & Industry; Resources & Commodities; Consumer; Finance; Utilities);
Downplay or avoid stocks in the broker/media limelight.
Here are 5 Canadian dividend stocks we recommend holding in your portfolio during and after COVID-19
One of the key points in our three-part investment advice is to invest mainly in well-established dividend-paying stocks. The COVID-19 pandemic and the downturn it spurred in March 2020 highlight… Read More
Split-share corporations come with inherent drawbacks that can hand investors unexpected and unwelcomed costs sooner than they’d planned
Split-share corporations: they’re just one of the areas in which Pat McKeough’s Inner Circle can get our investment research. Members also get to ask investment questions of Pat… Read More
CANADIAN IMPERIAL BANK OF COMMERCE $165 (www.cibc.com) is a buy. The bank increased your quarterly dividend by 10.3% with the January 2022 payment. The new annual rate of $6.44 yields a high 3.9%. Based on CIBC’s projected earnings for the fiscal year ending October 31, 2022, of $14.58… Read More
PFIZER INC., $46.84, New York symbol PFE, is a top pick for 2021.
The company is one of the world’s largest makers of prescription drugs. Its top-selling brands include Lyrica (epilepsy), Celebrex (arthritis pain), Prevnar (pneumonia) and Enbrel (rheumatoid arthritis).
With the March 2021 payment, Pfizer raised… Read More
CANADIAN IMPERIAL BANK OF COMMERCE, $143.94, Toronto symbol CM, is a buy.
The bank has purchased an undisclosed minority stake in Chicago-based Loop Capital, which provides investment banking and brokerage services to businesses and government agencies. Loop has offices in 20 U.S. cities.
TORONTO-DOMINION BANK, $87.96, Toronto symbol TD, is a buy.
In response to the COVID-19 pandemic, Canada’s banking regulator forced federally regulated lenders to suspend share buybacks and freeze their dividends. However, it will probably relax those restrictions in the next few months as the rollout of… Read More
In response to the COVID-19 pandemic, regulators relaxed their capitalization requirements for Canada’s banks. To further preserve capital, all banks have suspended their share buyback programs. They will also hold their dividends steady.
This stock has rebounded 97% from its March 2020 low of $68 as… Read More
MCDONALD’S CORP. $213 is a buy. The fast-food giant (New York symbol MCD; Income-Growth Dividend Payer Portfolio, Consumer sector; Shares outstanding: 745.1 million; Market cap: $158.7 billion; Dividend yield: 2.4%; Dividend Sustainability Rating: Highest; www.mcdonalds.com) raised your quarterly dividend by 3.2% in December 2020, to $1.29 a share from… Read More
We continue to recommend that most Canadian investors hold at least two or three of Canada’s Big Five banks (TD Bank, Bank of Nova Scotia, CIBC, Bank of Montreal and Royal Bank). That’s mainly because of their importance to the Canadian economy, plus their long… Read More
Canada’s Big Five banks continue to set aside large amounts for any rise in loan losses because of COVID-19’s economic impact. Regulators have also ordered the banks to freeze their dividends to preserve capital.
Like the other Big Five, this bank is seeing falling earnings due… Read More
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