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Here’s our Portfolio for Income-Seeking Investors for December 2025

You Can See our Portfolio for Income-Seeking Investors for December 2025 Here.

If you’re like most investors, you should invest the major portion of your money in stocks from our Conservative Growth Portfolio. But you may want to add some stocks from our Aggressive Growth Portfolio, which we update in this issue.

1 min read

Pat McKeough

Dividend Stocks

Updating your Income stocks: Fortis, Imperial Oil, BCE

FORTIS INC. $74 (www.fortisinc.com) is a buy. The company is the main supplier of electrical power in Newfoundland and PEI. It also owns electrical and gas utilities across North America. With the December 2025 payment, Fortis will raise your quarterly dividend by 4.1%, to $0.64 a share from $0.615. The new annual rate of $2.56 yields 3.5%. Fortis also plans to increase the annual dividend rate between 4% and 6% each year through 2030. Fortis is a buy.

1 min read

Pat McKeough

Energy Stocks

Cut your oil risk with Suncor

Despite uncertainty over tariffs and slowing economic growth, we continue to recommend all investors maintain some exposure to the cyclical oil and gas industry. The best way to cut your risk is with well-established producers with large reserves like Suncor. The company’s refineries also help it stay profitable when crude prices fall. That will help Suncor with its plan to raise your dividend between 3% and 5% annually.

2 min read

Pat McKeough

Blue Chip Stocks

TD closes some U.S. branches

TORONTO-DOMINION BANK $116 is a buy. The lender (Toronto symbol TD; Conservative Growth and Income Portfolios, Finance sector; Shares outstanding: 1.7 billion; Market cap: $197.2 billion; Price-to-sales ratio: 3.3; Dividend yield: 3.6%; TSINetwork Rating: Above Average; www.td.com) settled charges over lapses in anti-money laundering processes at its U.S. retail banking operations in October 2024. As a result, it paid a fine of $3.09 billion U.S.

1 min read

Pat McKeough

Growth Stocks

Here are key updates on your holdings

TC ENERGY CORP. $77 is a buy. The company (Toronto symbol TRP; Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 1.04 billion; Market cap: $80.1 billion; Price-to-sales ratio: 5.3; Dividend yield: 4.4%; TSINetwork Rating: Above Average; www.tcenergy.com) operates a 93,700-kilometre pipeline network that pumps natural gas from Alberta to eastern Canada and the U.S. It also owns gas pipelines in Mexico; at the same time, it owns or invests in 12 power plants in Canada and the U.S.

2 min read

Pat McKeough

Growth Stocks

The ‘no name’ concept should live on

LOBLAW COMPANIES LTD. $59 is a buy. The supermarket operator (Toronto symbol L; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 1.2 billion; Market cap: $70.8 billion; Price-to-sales ratio: 1.1; Dividend yield: 1.0%; TSINetwork Rating: Above Average; www.loblaw.ca) recently opened three smaller stores in Ontario based on its popular “no name” private label brand. These outlets are much smaller than its regular stores and carry a limited selection of frozen and canned goods, and packaged bakery items. However, the stores

1 min read

Pat McKeough

Growth Stocks

Acquisitions are key to their success

FirstService and Colliers tend to fuel their growth with acquisitions. However, that strategy is not as risky as it seems given both companies target smaller firms that expand their market share and geographic reach. What’s more, they seek prospective purchases with a high recurring revenue; that only enhances their long-term appeal.

2 min read

Pat McKeough

Dividend Stocks

Recent moves will spur Telus’s dividend

Telus recently privatized its Telus International subsidiary and sold a stake in its cellphone tower network. These moves should improve its long-term profitability and let it keep raising your dividend.

TELUS CORP. $21 is your #1 Income Buy for 2025. The company (Toronto symbol T; Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding:

2 min read

Pat McKeough

Blue Chip Stocks

Royal Bank targets U.S. for growth

ROYAL BANK OF CANADA $209 is a buy. The bank (Toronto symbol RY; Conservative Growth and Income Portfolios, Finance sector; Shares outstanding: 1.4 billion; Market cap: $292.6 billion; Price-to-sales ratio: 4.5; Dividend yield: 2.9%; TSINetwork Rating: Above Average; www.rbc.com) aims to expand its wealth management division, which now supplies about 20% of its earnings.

1 min read

Pat McKeough

Growth Stocks

Dividend cut following spinoff

MAPLE LEAF FOODS INC. $24 is a hold. The company (Toronto symbol MFI; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 123.9 million; Market cap: $3.0 billion; Price-to-sales ratio: 0.6; Dividend yield: 3.2%; TSINetwork Rating: Average; www.mapleleaffoods.com) sells fresh and prepared meats under the Maple Leaf and Schneider labels. It also makes plant-based protein products under the Lightlife and Field Roast brands.

1 min read

Pat McKeough

Testimonials

The cornerstones of Pat’s strategy–value, diversification and timelines–make his newsletter, The Successful Investor, highly profitable while minimizing risk. His advice is no-nonsense, down-to-earth and based on solid research. You’ll know what to invest in and what to avoid.

Chuck Chakrapani, PhD
Investors Association of Canada
The older I get the better dividends look. For retirees and would-be retirees who want to sleep at night, I can’t think of a better source of information on reliable growing dividend income than Pat McKeough’s newsletter, Dividend Advisor.

Jonathan Chevreau
Financial Post Columnist
As a manager of more than $500 million in mutual funds, I have access to the best brokerage research available in this country. But I still take time to read Pat McKeough’s premium newsletters

John Sartz
I appreciate the 25 years of above market returns I received by following your advice. at least 95% of my investment decisions were based on TSI recommendations.

Chuck J.
Subscriber since 1996. Inner Circle Member Since 2006
The newsletters I receive in Inner Circle Pro are fantastic! I have been following Pat’s advice for years and everything he has said has been amazing. His commentaries are brilliant, insightful, educational, rational and balanced. My returns are almost double the TSE and I have referred many of my friends who have switched over to your services.

Walter H.
Inner Circle Pro subscriber

Browse Premium Topics

Cannabis

Spinoffs

One of the ways a company can try to unlock its own hidden value is by creating a separate company out of a corporate subsidiary. The parent company can either sell stock in the new company to the public, or spin it off—hand the stock out to its own investors.

Dividend Stocks

Dividend stocks make cash payouts that serve as a way for companies to share the wealth they’ve accumulated. These payouts are drawn from earnings and cash flow and paid to the shareholders of the company. Typically, these dividends are paid quarterly, although they may be paid annually or even monthly as well.

ETFs

What are ETFs?

ETF is an acronym for exchange traded fund. These exchange traded funds are used to track indexes as closely as possible, since investors cannot actually buy an index outright.

Value Stocks

What are value stocks?

One of the sweetest and most profitable pleasures of successful investing is to buy high-quality “value stocks” (or stocks that are reasonably priced, if not cheap, in relation to its sales, earnings or assets), then hold on to them as mainstream investors recognize the value and push up the share price.

Blue Chip Stocks

Blue chip stocks are big, well-established, dividend-paying corporations with strong business prospects. These are companies that also have sound management that should be able to make the right moves to keep competing successfully in a changing marketplace.

Penny Stocks

A penny stock in general trades for under five dollars a share, and as the name implies, sometimes for pennies. Most of the time they’re young companies, or start-ups in speculative markets like mining or technology.

Growth Stocks

Growth stocks are companies that are likely to have sales and earnings growth well above market average. Frequently they pay few, if any, dividends. Instead they typically reinvest any extra cash flow to promote further growth. Chosen wisely—according to Pat McKeough’s advice—high-quality growth-oriented stocks can be worthwhile additions to most well-diversified portfolios.

Wealth Management

Wealth management is the practice of putting your savings to work so that it continues to grow over your lifetime and will also benefit your heirs. Wealth management encompasses many different areas of investing like long term investment planning and retirement planning.

Mining Stocks

Mining stocks are investments in companies that produce or explore for minerals. Some of these minerals include uranium, coal, molybdenum (which is used in steelmaking), copper, silver and gold. They are affected by fluctuating commodity prices in addition to their own business and operating risks.

How To Invest

Pat McKeough has been making investing for beginners simple—and profitable—by helping investors make big gains for more than 25 years. His advice to beginning investors is the same as it is for all investors: buy high-quality, mostly dividend paying stocks (or ETFs that hold these stocks) and evenly spread your investments over the five main economic sectors (Resources, Manufacturing, Finance, Utilities and Consumer). Pat also believes investors should avoid stocks in the broker/media limelight and focus on those with hidden or little-noticed assets.

Energy Stocks

What are energy stocks?

Businesses that work in the extraction, refining and delivery of energy sources such as natural gas, oil, uranium and coal, are considered energy stocks.