Expect more hikes from Thomson

Article Excerpt

THOMSON REUTERS CORP. $122 is still a buy. The company (Toronto symbol TRI; Conservative Growth Dividend Payer Portfolio, Manufacturing sector; Shares outstanding: 486.2 million; Market cap: $59.3 billion; Dividend yield: 1.9%; Dividend Sustainability Rating: Highest; www.thomsonreuters.com) sells specialized information and software to the legal, tax and accounting fields. Thomson last raised your quarterly dividend with the March 2022 payment. Investors now receive $0.445 U.S. a share, up 9.9% from $0.405 U.S. The new annual rate of $1.78 U.S. yields 1.9%. Under a new strategic plan, Thomson will spend $600 million this year to upgrade its computer hardware systems (all amounts except share price and market cap in U.S. dollars). So far, the plan has cut its annual costs by $305 million. Those savings give it more room to boost your dividend. Thomson Reuters is a buy. buy…