Topic: How To Invest

Dividend Advisor Hotline – Friday, June 25, 2021

Article Excerpt

ANDREW PELLER LTD. (A shares) remains a buy. The company, Toronto symbols ADW.A (non-voting) $9.60 and ADW.B $12.64, is Canada’s second-largest wine producer, after Arterra Wines. Andrew Peller is now raising your dividend by 9.0%. The company has yet to announce the payment date, but the new annual rate of $0.246 per class A share yields 2.6%. Meanwhile, in the fiscal 2021 fourth quarter, ended March 31, 2021, Peller’s sales dropped 3.6%, to $79.13 million from $82.12 million a year earlier. That fell short of the consensus forecast of $81.4 million. Sales to restaurants and hotels declined due to COVID-19 lockdowns. However, sales to consumers through provincial liquor stores and other retail channels, such as Peller’s new online store (www.thewineshops.com), remain strong. Partly due to higher packaging and shipping costs stemming from the launch of the online store, as well as the hiring of new workers as the economy re-opens, Peller lost $0.15 a share in the latest quarter. That missed the consensus estimate of…

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