Here are key updates on 3 dividend payers: Power Corp., CIBC and Archer Daniels Midland Co.

Article Excerpt

POWER CORP. $25 is a buy. The conglomerate (Toronto symbol POW; Conservative-Growth Dividend Payer Portfolio, Finance sector; Shares outstanding: 621.4 million; Market cap: $15.5 billion; Dividend yield: 7.2%; Dividend Sustainability Rating: Above Average; www.powercorporation.com) last raised its quarterly dividend by 10.5% with the May 2020 payment, to $0.4475 a share from $0.405. Your new annual rate of $1.79 yields a high 7.2%. Power’s primary investments are controlling stakes in Great-West Lifeco, IGM Financial and Swiss-listed Pargesa, which holds interests in seven large European firms. The company recently acquired Power Financial. To do that, it gave PowerFinancial investors its own shares in exchange for their Power Financial holdings. This cuts duplication, but also makes Power’s structure easier to value. To conserve cash during the COVID-19 pandemic, Power has suspended its share buyback plan. It spent $193 million on buybacks in the first quarter of 2020. Power Corp. is a buy. CANADIAN IMPERIAL BANK OF COMMERCE $93 is still a buy. The bank (Toronto symbol CM; Income-Growth Portfolio, Finance sector; Shares outstanding: 445.1…

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