Dividend News for the Week Ending August 17, 2018

There were a number of dividend announcements this week, but nothing really material. Of all of the companies that announced, there were none that increased their dividend since their last payout.

Ticker Company Record Date Payment Date Dividend Amount Frequency
APR-UN.TO Automotive Properties Real Estate Investment Trust 2018-08-31 2018-09-17 $0.067000 Monthly
ARX.TO ARC Resources Ltd. 2018-08-31 2018-09-17 $0.050000 Monthly
AX-UN.TO Artis Real Estate Investment Trust 2018-08-31 2018-09-14 $0.090000 Monthly
BTB-UN.TO BTB Real Estate Investment Trust 2018-08-31 2018-09-17 $0.035000 Monthly
CJT.TO Cargojet Inc. 2018-09-20 2018-10-05 $0.212000 Quarterly
CRT-UN.TO CT Real Estate Investment Trust 2018-08-31 2018-09-17 $0.060670 Monthly
CSH-UN.TO Chartwell Retirement Residences 2018-08-31 2018-09-17 $0.049000 Monthly
CUF-UN.TO Cominar Real Estate Investment Trust 2018-08-31 2018-09-17 $0.060000 Monthly
EIF.TO Exchange Income Corporation 2018-08-31 2018-09-14 $0.182500 Monthly
FN.TO First National Financial Corporation 2018-08-31 2018-09-14 $0.154167 Monthly
GDC.TO Genesis Land Development Corp. 2018-08-28 2018-09-12 $0.240000 Ad-Hoc
GRT-UN.TO Granite Real Estate Investment Trust 2018-08-31 2018-09-14 $0.227000 Monthly
H.TO Hydro One Limited 2018-09-11 2018-09-28 $0.230000 Quarterly
HLF.TO High Liner Foods 2018-09-01 2018-09-15 $0.145000 Quarterly
HOM-U.TO BSR Real Estate Investment Trust 2018-08-31 2018-09-17 $0.041700 Monthly
HOT-UN.TO American Hotel Income Properties REIT 2018-08-31 2018-09-14 $0.054000 Monthly
INE.TO Innergex Renewable Energy Inc. 2018-09-28 2018-10-15 $0.170000 Quarterly
IVQ-U.TO Invesque 2018-08-31 2018-09-15 $0.061390 Monthly
KBL.TO K Bro Linen Inc. 2018-08-31 2018-09-14 $0.100000 Monthly
MI-UN.TO Minto Apartment Real Estate Investment Trust 2018-08-31 2018-09-14 $0.034160 Monthly
MRG-UN.TO Morguard North American Residential Real Estate Investment Trust 2018-08-31 2018-09-14 $0.055000 Monthly
MRT-UN.TO Morguard Real Estate Investment Trust 2018-08-31 2018-09-14 $0.080000 Monthly
MRU.TO METRO INC. 2018-09-05 2018-09-26 $0.180000 Quarterly
NWH-UN.TO NorthWest Healthcare Properties Real Estate Investment Trust 2018-08-31 2018-09-17 $0.066670 Monthly
PBH.TO Premium Brands Holdings Corporation 2018-09-28 2018-10-15 $0.475000 Quarterly
PLZ-UN.TO Plaza Retail REIT 2018-08-31 2018-09-17 $0.023330 Monthly
PTG.TO Pivot Technology Solutions, Inc. 2018-08-31 2018-09-14 $0.040000 Quarterly
PZA.TO Pizza Pizza Royalty Corp. 2018-08-31 2018-09-14 $0.071300 Monthly
RCI-B.TO Rogers Communications Inc. 2018-09-14 2018-10-03 $0.480000 Quarterly
SES.TO SECURE Energy Services Inc. 2018-09-01 2018-09-17 $0.022500 Monthly
SGY.TO Surge Energy Inc. 2018-08-31 2018-09-17 $0.008333 Monthly
SMU-UN.TO Summit Industrial Income REIT 2018-08-31 2018-09-14 $0.043000 Monthly
TNT-UN.TO True North Commercial Real Estate Investment Trust 2018-08-31 2018-09-17 $0.049500 Monthly
TOG.TO TORC Oil & Gas Ltd. 2018-08-31 2018-09-17 $0.022000 Monthly
TVK.TO TerraVest Capital Inc. 2018-09-28 2018-10-08 $0.100000 Quarterly
VET.TO Vermilion Energy Inc. 2018-08-31 2018-09-17 $0.230000 Monthly
WCP.TO Whitecap Resources Inc. 2018-08-31 2018-09-17 $0.027000 Monthly
WPM.TO Wheaton Precious Metals 2018-08-29 2018-09-13 $0.090000 Quarterly

That said, Cargojet, First National (covered July 20, 2018), and High Liner provide opportunities for more investigation.

Cargojet Inc.

Ticker CJT.TO
Amount $0.21
Projected Annual Dividend for 2018 $0.85
Record Date September 20, 2018
Payment Date October 5, 2018
Market price as of August 17, 2018 $77.10
Forward Yield 1.10%
Rating AC1
CAGR (since 2010) 6.72%
CAGR (since 2005) 2.47%

Cargojet Inc operates domestic overnight air cargo co-load network in Canada. It provides aircraft service to customers on an Aircraft, Crew, Maintenance and Insurance basis, and operates scheduled international routes for multiple cargo customers. (Source: TSX)

Cargojet has become more interesting in recent years. It is given an AC1 rating because it cut its dividend in 2009, but since then it has been on an upwards trajectory. Even if we exclude the special dividend in 2013, overall it has been increasing since 2010, providing a 6.72% CAGR since then. However, its forward yield is only 1.10%.

High Liner Foods

Ticker HLF.TO
Amount $0.15
Projected Annual Dividend for 2018 $0.58
Record Date September 1, 2018
Payment Date September 15, 2018
Market price as of August 17, 2018 $6.60
Forward Yield 8.79%
Rating A1B2
CAGR (since 2003) 21.83%

High Liner is the leading North American processor and marketer of value-added (i.e. processed) frozen seafood, producing a wide range of products from breaded and battered items to seafood entrées, that are sold to North American food retailers and foodservice distributors. The retail channel includes grocery and club stores and their products are sold throughout the U.S., Canada and Mexico under the High Liner, Fisher Boy, Mirabel, Sea Cuisine and C. Wirthy & Co. labels. The foodservice channel includes sales of seafood that are usually eaten outside the home and our branded products are sold through distributors to restaurants and institutions under the High Liner, Icelandic Seafood and FPI labels. The Company is also a major supplier of private-label value-added frozen premium seafood products to North American food retailers and foodservice distributors. (Source: Company filings)

I’ve covered High Liner a few times, most recently in March of this year. High liner is very interesting right now as there has been a large drop since the firm announced its quarterly earnings, which has cut the price by about 1/3 the past week, and increased the yield. However, at first glance I do not see the dividend being in jeopardy, so this may be a buying opportunity for an overall great company, which has a compounded annual growth in its dividend if over 20% since 2003.



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