Dividend increase: Andrew Peller

Article Excerpt

ANDREW PELLER LTD. $14 (Toronto symbol ADW.A; Conservative Growth Payer Portfolio, Consumer sector; Shares outstanding: 44.2 million; Market cap: $618.8 million; Dividend yield: 1.5%; Dividend Sustainability Rating: Above Average; www.andrewpeller.com) began operating in 1961 and is Canada’s second-largest wine producer. (Arterra Wines is No. 1.) The company accounts for 5.9% of the country’s wine sales. Peller will raise its quarterly dividend by 4.9%, starting with the July 2019 payment. Investors will then receive $0.05375 a share, up from $0.05125. The new annual rate of $0.215 yields 1.5%. The company has paid dividends since 1979, and has raised the annual rate each year for the past seven years. Andrew Peller is a buy. buy…