Dividend increase: Molson Coors

Article Excerpt

MOLSON COORS CANADA INC. (Toronto symbols TPX.A $76 and TPX.B $76; Conservative Growth Payer Portfolio, Consumer sector; Shares outstanding: 216.5 million; Market cap: $16.5 billion; Dividend yield: 4.0%; Dividend Sustainability Rating: Above Average; www.molsoncoors.com) is one of the world’s largest beer brewers. Its main brands include Molson Canadian (Canada), Coors Light (the U.S.) and Carling (the U.K.). Starting with the September 2019 payment, the company will hike its quarterly dividend by 39.0%. Investors will then receive $0.57 U.S. a share, up from $0.41 U.S. The new annual rate of $2.28 U.S. yields 4.0% for class A shares, and 4.0% for class B shares. Investors holding those class B shares have less voting power to elect directors than those with class A shares. But the B shares are more liquid and receive the same dividend. Molson Coors B is a buy. buy…