Dividend increase: Canadian Tire

Article Excerpt

CANADIAN TIRE CORP. $161 (Toronto symbol CTC.A; Conservative Growth Payer Portfolio, Consumer sector; s/o: 70.6 million; Market cap: $11.4 billion; Dividend yield: 2.2%; Dividend Sustainability Rating: Highest; www.canadiantire.ca) sells automotive, household and sporting goods through 500 Canadian Tire stores. Its other retail chains include Mark’s (casual and work clothing), and Sport Chek (sporting goods). In March 2018, Canadian Tire raises its quarterly dividend by 38.5%, to $0.90 a share from $0.65. The annual rate of $3.60 yields 2.2%. That big increase reflects the company’s strong outlook. It expects to raise its annual earnings per share by an average of 10% each year from 2018 to 2020. Canadian Tire is a buy. buy…