Topic: How To Invest

Dividend Advisor Hotline – Friday, October 15, 2021

Article Excerpt

IGM FINANCIAL INC., $46.54, Toronto symbol IGM, remains a buy. The company is Canada’s largest independent mutual-fund provider. It also offers ETFs and wealth management services. 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. That makes for a high 4.8% yield. The company’s fee income rises and falls with the value of the mutual funds and other securities it manages. Its assets under management (and advisement) totalled $265.2 billion as of September 30, 2021. That’s down 2.2% since the end of August due to the recent dip in stock market values, but still up 10.5% since the start of 2021. IGM is also benefitting from strong inflows of new money (net of redemptions). Inflows in September 2021 rose 117.2%, to $636.6 million from $293.1 million in September 2020. The stock has gained 32% since the start of 2021, yet still trades at a moderate 12.0 times the $3.89 a share…

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