Three key updates to build your returns: Broadridge Financial Solutions Inc., Molson Coors Canada Inc. and Verizon Communications

Article Excerpt

BROADRIDGE FINANCIAL SOLUTIONS INC. $134 is a buy. The company (New York symbol BR; High-Growth Payer Portfolio, Finance sector; Shares outstanding: 114.8 million; Market cap: $15.4 billion; Dividend yield: 1.6%; Dividend Sustainability Rating: Above Average; www.broadridge.com) last raised its quarterly dividend with the October 2019 payment. Investors now receive $0.54 a share, up 11.3% from $0.485. The new annual rate of $2.16 yields 1.6%. In its fiscal 2020 third quarter, ended March 31, 2020, revenue rose 2.0%, to $1.25 billion from $1.22 billion a year earlier. Excluding one-time items, the company earned $1.67 in the latest quarter. That’s up 5.7% from $1.59. Broadridge stands to gain from the rising structural costs that financial services firms face. They include new regulations in the U.S. (Regulation Best Interest) and Europe (Shareholder Rights Directive). As well, growing consumer demand for passive investment products like ETFs should benefit Broadridge and its investor communications unit. Broadridge is a buy. MOLSON COORS CANADA INC. remains a hold. The beer brewer (Toronto symbols TPX.A $48 and TPX.B…

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