Updates on Great-West Lifeco, Loblaw Companies & TransCanada Corp.

Article Excerpt

GREAT-WEST LIFECO $33.78 (Toronto symbol GWO; shares outstanding: 987.8 million; Market cap: $31.4 billion; TSINetwork Rating: Above Average; Dividend yield: 4.9%; www.greatwestlifeco.com) is Canada’s second-largest insurance company, after Manulife Financial. The company plans to merge its three Canadian insurance subsidiaries (The Great-West Life Assurance Company, London Life Insurance Company and The Canada Life Assurance Company) into a single firm—The Canada Life Assurance Company. As well, it will sell all of its insurance products under the Canada Life brand. The move will let Great-West cut its administrative and marketing costs. The merger needs regulatory and other approvals, so the company expects it will take two to three years to complete the process. Great-West Lifeco is still a hold. LOBLAW COMPANIES $64.34 (Toronto symbol L; Shares outstanding: 369.0 million; Market cap: $23.8 billion; TSINetwork Rating: Above Average; Dividend yield: 2.0%; www.loblaw.ca) operates 1,085 supermarkets and 1,337 Shoppers Drug Mart pharmacies across Canada. The company plans to replace the refrigeration systems in 370 stores over the next three years. The…

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