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You Can See Our Conservative-Growth Dividend Payer Portfolio for April 2023 here.


You can’t fake a record of dividends....
CAE INC. $29 remains a buy for long-term gains. The company (Toronto symbol CAE; Conservative-Growth Payer Portfolio, Manufacturing sector; Shares outstanding: 317.9 million; Market cap: $9.2 billion; Dividend suspended in March 2020; Dividend Sustainability Rating: Average; www.cae.com) makes flight simulators for commercial and military aircraft....
Canada’s grocery store operators have come under pressure for generating above-average profits in the wake of the COVID-19 pandemic. However, rising costs for food and labour are squeezing their profit margins. We feel high-quality grocers like Metro will adapt, and keep rewarding investors with higher dividends and share buybacks.


METRO INC....
LEON’S FURNITURE LTD. $17 is a buy for aggressive investors. The retailer (Toronto symbol LNF; High-Growth Payer Portfolio, Consumer sector; Shares outstanding: 67.0 million; Market cap: $1.1 billion; Dividend yield: 3.8%; Dividend Sustainability Rating: Average; www.leons.ca) operates 304 stores that sell furniture and home appliances, mainly under the Leon’s, The Brick, The Brick Mattress Store, The Brick Outlet and Appliance Canada banners.


To conserve cash during the pandemic, Leon’s cut your quarterly dividend by 25.0% in July 2020, to $0.12 a share from $0.16....
NORTH WEST COMPANY $38 is a buy. The company (Toronto symbol NWC; High-Growth Payer Portfolio, Consumer sector; Shares outstanding: 47.7 million; Market cap: $1.8 billion; Dividend yield: 4.0%; Dividend Sustainability Rating: Above Average; www.northwest.ca) sells food and everyday products and services at 219 stores....

GEN DIGITAL INC. $17 is a buy. The company (Nasdaq symbol GEN; High-Growth Dividend Payer Portfolio, Consumer sector; Shares outstanding: 639.1 million; Market cap: $10.9 billion; Dividend yield: 2.9%; Dividend Sustainability Rating: Average; www.gendigital.com) changed its name from NortonLifeLock (old symbol NLOK) following its September 2022 acquisition of European cybersecurity firm Avast plc for $8.1 billion....
These U.S. industrial firms continue to raise their dividends despite facing higher input costs. However, we feel Stanley’s new cost-cutting plan puts it in a stronger position to move higher in the next few months.


STANLEY BLACK & DECKER INC....

Oil prices have declined lately due to fears that rising interest rates will trigger an economic slowdown. However, cash flow at these top oil producers remains strong, which lets them return more of that cash to their shareholders.


SUNCOR ENERGY INC....
POWER CORP. $35 is a buy. The conglomerate’s (Toronto symbol POW; Conservative-Growth Dividend Payer Portfolio, Finance sector; Shares outstanding: 667.1 million; Market cap: $23.3 billion; Dividend yield: 6.0%; Dividend Sustainability Rating: Above Average; www.powercorporation.com) primary investments are controlling stakes in Great-West Lifeco, IGM Financial and robo-advisor Wealthsimple....
Investors in Great-West, IGM and their parent company Power Corp. enjoy high, sustainable dividend yields. For new buying, however, we prefer IGM and its parent.


GREAT-WEST LIFECO INC. $35 is a hold. The company (Toronto symbol GWO; Conservative Growth Payer Portfolio, Finance sector; shares outstanding: 931.9 million; Market cap: $32.6 billion; Dividend yield: 5.9%; Dividend Sustainability Rating: Above Average; www.greatwestlifeco.com) is Canada’s second-largest life insurer after Manulife Financial....