Toronto-Dominion Bank
AIMIA INC. $18.30 (Toronto symbol AIM; TSINetwork Rating: Extra Risk) (514-205-7315; www.aimia.com; Shares outstanding: 172.6 million; Market cap: $3.2 billion; Dividend yield: 3.7%) has reached an agreement with TD Bank and CIBC to share its Aeroplan loyalty program.
TD Bank is now the primary credit card issuer for Aeroplan....
TD Bank is now the primary credit card issuer for Aeroplan....
TORONTO-DOMINION BANK $91 (Toronto symbol TD; Conservative Growth Portfolio, Finance sector; Shares outstanding: 917.6 million; Market cap: $83.5 billion; Price-to-sales ratio: 2.8; Dividend yield: 3.7%; TSINetwork Rating: Above Average; www.td.com) has agreed to pay $52.5 million U.S....
AIMIA INC. $18.30 (Toronto symbol AIM; TSINetwork Rating: Extra Risk) (514-205-7315; www.aimia.com; Shares outstanding: 172.6 million; Market cap: $3.2 billion; Dividend yield: 3.7%) has reached an agreement with TD Bank and CIBC to share its Aeroplan loyalty program.
TD Bank is now the primary credit card issuer for Aeroplan. However, the deal will let CIBC, the former main card issuer, hang on to Aeroplan accounts held by customers who also bank at CIBC. That’s about half the Aeroplan portfolio.
CIBC will receive an upfront payment of $200 million from TD and Aimia. As well, TD will pay CIBC $37.5 million annually for the next three years.
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TD Bank is now the primary credit card issuer for Aeroplan. However, the deal will let CIBC, the former main card issuer, hang on to Aeroplan accounts held by customers who also bank at CIBC. That’s about half the Aeroplan portfolio.
CIBC will receive an upfront payment of $200 million from TD and Aimia. As well, TD will pay CIBC $37.5 million annually for the next three years.
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AEROPOSTALE INC., $9.90, symbol ARO on New York, moved up over 15% this week on news that Sycamore Partners has taken a nearly 8% stake in the company. Sycamore is a New York-based private equity firm that specializes in consumer and retail investments. It has over $1 billion in capital under management. Earlier this year, Sycamore paid $600 million for Hot Topic, a U.S. teen retailer with over 800 mall-based stores; in December 2012, it made an unsuccessful $555-million bid for Billabong, the Australian surf wear company; and in early 2012, it bought Talbots, a struggling women’s wear chain, for about $400 million....
BLACKBERRY LTD., $9.08, Toronto symbol BB, fell 16% on Friday after the company announced that it will cut 40% of its workforce due to slow demand for its new BlackBerry 10 smartphones. In its fiscal 2014 second quarter, which ended August 31, 2013, BlackBerry sold 3.7 million phones. That’s down from 7.4 million phones a year earlier. BlackBerry will also write down the value of its unsold phones. As a result, it expects to report a loss of between $950 million, or $1.81 a share, and $995 million, or $1.90 a share, in the second quarter (all amounts except share price in U.S. dollars). If you exclude unusual items, it will still lose between $0.47 and $0.51 a share....
The U.S. is the sole country worldwide that requires its citizens to file an income tax return and report any income regardless of where they live or whether they hold dual citizenship in another country. That’s unlike Canada, which mainly bases its tax system on country of residence, like most other nations. The U.S. Internal Revenue Service (IRS) estimates that five to seven million American citizens reside abroad. Of that total, about one million live in Canada. Most U.S. citizens paying income taxes in Canada pay no additional U.S. income tax. However, they still have U.S. tax filing and compliance requirements....
ISHARES DOW JONES CANADA SELECT DIVIDEND INDEX FUND $22.31 (Toronto symbol XDV; buy or sell through brokers; ca.ishares.com) holds 30 of the highest-yielding Canadian stocks. Its selections are based on dividend growth, yield and payout ratio. The weight of any one stock is limited to 10% of its assets. The fund’s MER is 0.50%. It yields 4.5%.
The fund’s top holdings are Bonterra Energy, 6.5%; CIBC, 6.3%; National Bank, 5.9%; TD Bank, 5.7%; Bank of Montreal, 5.3%; Royal Bank, 4.5%; IGM Financial, 4.4%; Telus Corp., 4.2%; Bank of Nova Scotia, 4.1%; and BCE Inc., 4.0%.
The fund holds 53.4% of its assets in financial stocks. The top Canadian finance stocks have sound prospects. However, if you invest in this ETF, be sure to adjust the rest of your portfolio so it won’t be overly concentrated in the financial sector.
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The fund’s top holdings are Bonterra Energy, 6.5%; CIBC, 6.3%; National Bank, 5.9%; TD Bank, 5.7%; Bank of Montreal, 5.3%; Royal Bank, 4.5%; IGM Financial, 4.4%; Telus Corp., 4.2%; Bank of Nova Scotia, 4.1%; and BCE Inc., 4.0%.
The fund holds 53.4% of its assets in financial stocks. The top Canadian finance stocks have sound prospects. However, if you invest in this ETF, be sure to adjust the rest of your portfolio so it won’t be overly concentrated in the financial sector.
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ISHARES S&P/TSX 60 INDEX FUND $17.88 (Toronto symbol XIU; buy or sell through brokers; ca.ishares.com) is a good low-fee way to buy the top stocks on the TSX. The units are made up of stocks that represent the S&P/TSX 60 Index, which consists of the 60 largest, most heavily traded stocks on the exchange. Expenses are just 0.17% of assets.
The index mostly consists of high-quality companies. However, it must ensure that all sectors are represented, so it holds a few we wouldn’t include.
The index’s top holdings are Royal Bank, 8.2%; TD Bank, 7.1%; Bank of Nova Scotia, 6.2%; Suncor Energy, 4.5%; CN Railway, 3.9%; Bank of Montreal, 3.7%; Enbridge, 3.4%; Canadian Natural Resources, 3.2%; TransCanada Corporation, 3.0%; Manulife Financial, 3.0%; BCE, 2.9%; CIBC, 2.8%; Valeant Pharmaceuticals, 2.8%; Potash Corp., 2.3%; Cenovus Energy, 2.0%; and Goldcorp, 2.0%.
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The index mostly consists of high-quality companies. However, it must ensure that all sectors are represented, so it holds a few we wouldn’t include.
The index’s top holdings are Royal Bank, 8.2%; TD Bank, 7.1%; Bank of Nova Scotia, 6.2%; Suncor Energy, 4.5%; CN Railway, 3.9%; Bank of Montreal, 3.7%; Enbridge, 3.4%; Canadian Natural Resources, 3.2%; TransCanada Corporation, 3.0%; Manulife Financial, 3.0%; BCE, 2.9%; CIBC, 2.8%; Valeant Pharmaceuticals, 2.8%; Potash Corp., 2.3%; Cenovus Energy, 2.0%; and Goldcorp, 2.0%.
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AIMIA INC. $15.80 (Toronto symbol AIM; TSINetwork Rating: Extra Risk) (514-205-7315; www.aimia.com; Shares outstanding: 172.5 million; Market cap: $2.7 billion; Dividend yield: 4.3%) has finalized its deal for TD Bank to become the primary credit card issuer for Aeroplan, Aimia’s main loyalty program.
TD and Aimia are also negotiating a new agreement with Canadian Imperial Bank of Commerce, which has been Aimia’s banking partner in the Aeroplan program for the past 22 years.
This agreement would let CIBC sell around half of its existing Aeroplan accounts to TD....
TD and Aimia are also negotiating a new agreement with Canadian Imperial Bank of Commerce, which has been Aimia’s banking partner in the Aeroplan program for the past 22 years.
This agreement would let CIBC sell around half of its existing Aeroplan accounts to TD....
AIMIA INC., $15.77, symbol AIM on Toronto, has finalized its deal for TD Bank to become the primary credit card issuer for Aeroplan, Aimia’s main loyalty program. TD is a recommendation of The Successful Investor, our newsletter that focuses on conservative Canadian investing. Aeroplan is Canada’s largest loyalty program, with over 4.6 million members who collect Aeroplan miles from participating companies. Members can exchange their miles for flights, car rentals, hotel rooms and merchandise. Under this new 10-year deal, which would begin January 1, 2014, TD will launch new credit cards under the Aeroplan Visa banner, including cards for frequent flyers and small businesses....