Iconic retailer continues to reward investors

Article Excerpt

Canadian Tire continued to rebound as its stores re-opened with the end of COVID-19 lockdowns. The company is also expanding its online business and cutting costs. In fact, it’s so confident in its prospects that it just hiked your dividend by a whopping 25.0%. CANADIAN TIRE CORP. (class A non-voting) is a buy. The company (Toronto symbols CTC (voting) $320 and CTC.A (non-voting) $165; Conservative Growth Payer Portfolio, Consumer sector; Shares outstanding: 59.6 million; Market cap: $10.5 billion; Dividend yield: 3.9%; Dividend Sustainability Rating: Highest; www.canadiantire.ca) operates 504 Canadian Tire stores. They sell automotive parts and services, and household and sporting goods; franchisees run most locations. The company’s other operations also enrich its outlook. They include 161 stores under the PartSource (auto parts) and Party City (party supplies) banners; 380 Mark’s stores, which sell casual and work clothing; and 375 Sport Chek and Sports Experts locations, selling sporting goods and athletic wear. Canadian Tire now plans to raise your quarterly dividend with the September 2022 payment by…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.