Topic: How To Invest

Dividend Advisor Hotline – Friday, June 16, 2017

Article Excerpt

IGM FINANCIAL INC., $40.34, Toronto symbol IGM, is Canada’s largest independent mutual-fund provider. Its main businesses are Investors Group, Mackenzie Financial and Investment Planning Counsel. IGM last raised its quarterly dividend by 4.7% with the January 2015 payment. Investors receive $0.5625 per share for an annual rate of $2.25. It yields 5.6%. As of May 31, 2017, the company had $149.7 billion in assets under management. That’s up 10.4% from $135.6 billion a year earlier. IGM’s fee income rises and falls with the value of the mutual funds and other securities it manages. In May, the company’s clients contributed $418.6 million more to its mutual funds and ETFs than they took out. Specifically, overall sales rose $195.4 million at Investors Group and $336.1 million at Mackenzie. Those gains were more than enough to offset an $8.1 million decline at Investment Planning Counsel. IGM’s dividend has grown an average of 0.9% annually over the last 5 years. Its TSI Dividend Sustainability Rating is Above Average. OUR RECOMMENDATION:…