Topic: How To Invest

Dividend Advisor Hotline – Friday, September 16, 2022

Article Excerpt

NORTH WEST COMPANY, $32.65, Toronto symbol NWC, is a buy. The retailer sells food, and everyday products and services through 244 stores. Those locations are mainly in northern communities across Canada and Alaska. Through your shares, you also tap the company’s operations in remote regions of Hawaii, the wider South Pacific and the Caribbean. North West is now raising your quarterly dividend by 2.7%. Starting with the October 2022 payment, investors will receive $0.38 a share instead of $0.37. The new annual rate of $1.52 yields a high 4.7%. In the quarter ended July 31, 2022, overall sales rose 2.4%, to $578.9 million from $565.1 million a year earlier. Same-store sales fell 4.1% in the quarter compared to last year. Notably, though, same-store sales were up 21.3% compared to the same quarter in (pre-pandemic) 2019. Same-store sales were down 4.1% compared to the COVID-19-related sales of the year-ago quarter that were helped by government income support payments to individuals and higher in-community spending due…