Topic: How To Invest

Dividend Advisor Hotline – Friday, May 20, 2022

Article Excerpt

CANADIAN TIRE CORP., $161.80, Toronto symbol CTC.A, is a buy. Investors tap the company’s 504 Canadian Tire stores. They sell automotive parts and services, and household and sporting goods; franchisees run most of the locations. Still, the company’s other operations also enrich its outlook. They include 161 stores operating under the PartSource (auto parts) and Party City (party supplies) banners. Canadian Tire has several other major retail chains: Mark’s sells casual and work clothing through 380 stores; and the Sport Chek Group sells sporting goods and athletic wear through 375 outlets, including Sport Chek and Sports Experts. Starting with the September 2022 payment, Canadian Tire will raise your quarterly dividend by 25.0%. Shareholders will then receive $1.625 a share instead of $1.30. The new annual rate of $6.50 yields 4.0%. Meantime, the company continues to benefit from improving customer traffic as more regions relax their COVID-19 restrictions. In the quarter ended April 2, 2022, its overall sales rose 15.5%, to $3.84 billion from $3.32 billion…

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