Updating our Income stocks: Molson Coors Canada, Great-West Lifeco and BCE

Article Excerpt

MOLSON COORS CANADA INC. $70 (www.molsoncoors.com) is a hold. Molson’s sales in the quarter ended March 31, 2021, fell 9.7%, to $1.90 billion from $2.10 billion a year earlier (all amounts except share price in U.S. dollars). That’s mainly because many bars and restaurants remain closed due to COVID-19. Earnings dropped 97.1%, to $0.01 from $0.35. However, the company expects to resume dividend payments in the second half of 2021. Molson Coors is a hold. GREAT-WEST LIFECO INC. $36 (www.greatwestlifeco.com) is a hold. The company recently paid $4.4 billion for the retirement services business of Massachusetts Mutual Life Insurance Company. Due to that purchase, its earnings in the first quarter of 2021 jumped 36.1%, to $739 million (or $0.80 a share) from $543 million ($0.59) a year earlier. So far, eliminating overlapping operations has let Great-West cut $40 million U.S. from its annual costs. That yearly savings should reach $160 million U.S. by the end of 2022. However, rising interest rates…

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