Topic: How To Invest

Dividend Advisor Hotline – Friday, November 10, 2023

Article Excerpt

CANADIAN TIRE CORP., $140.31, Toronto symbol CTC.A, is a top buy for 2023. Investors benefit from the company’s 502 Canadian Tire stores. They sell automotive parts and services, and household and sporting goods; franchisees run most of the locations. 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 379 stores; and the Sport Chek Group sells sporting goods and athletic wear through 370 outlets, including Sport Chek and Sports Experts. With the March 2024 payment, the company will raise your quarterly dividend by 1.4%. Shareholders will then receive $1.75 a share instead of $1.725. The new annual rate of $7.00 yields a high 5.0%. With this increase, the company has now raised that payment each year for the past 14 years. What’s more, Canadian Tire now plans to buy back $200.0 million of its…