Dividend News for the Week Ending August 17, 2018
Posted: August 18, 2018 Filed under: Dividends | Tags: cjt.to, dividends, FN.TO, hlf.to Leave a commentThere 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.
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.
Dividend News for the Week Ending July 20, 2018
Posted: July 20, 2018 Filed under: Dividends | Tags: CGX.TO, dividends, EIF.TO, ENF.TO, FN.TO, MTY.TO, SES.TO, VET.TO 1 CommentEnbridge Income Fund Holdings Inc.
Enbridge Income Fund Holdings Inc. is a publicly traded corporation. The Company, through its investment in Enbridge Income Fund indirectly holds high quality, low-risk energy infrastructure assets. The Fund’s assets consist of a portfolio of Canadian liquids transportation and storage businesses, including the Canadian Mainline, the Regional Oil Sands System, the Canadian segment of the Southern Lights Pipeline, Class A units entitling the holder to receive defined cash flows from the U.S. segment of the Southern Lights Pipeline, a 50 percent interest in the Alliance Pipeline, which transports natural gas from Canada to the U.S., and interests in more than 1,400 MW of renewable and alternative power generation assets. Source: Company Filings
The firm has been paying a dividend since 2003 but made a switch to a dividend paying corporation in 2011. Given its long track record it ranks as an A1B3 stock, but for comparison purposes CAGR is better measured since the conversion to a dividend paying corporation. Even then, since 2011 CAGR is an impressive 9.91%.
First National Financial
Ticker | FN.TO |
Amount | $0.15 |
Projected Annual Dividend for 2018 | $1.85 |
Record Date | July 31, 2018 |
Payment Date | August 15, 2018 |
Market price as of July 16, 2018 | $28.80 |
Forward Yield | 6.42% |
Rating | AC2 |
CAGR (since 2006) | 12.00% |
First National is Canada’s largest non-bank lender, originating and servicing both commercial and residential mortgages since 1988. Source: TSX.
FN moved to a dividend paying corporation in 2011, precipitating a cut in its payment to shareholders. Because of the cut, the stock was cut to a C dividend payer rating. That said, it has increased its dividend every year since the conversion, which gives it an overall rating of A1C2.
SECURE Energy Services Inc.
Ticker | SES.TO |
Amount | $0.02 |
Projected Annual Dividend for 2018 | $0.27 |
Record Date | August 1, 2018 |
Payment Date | August 15, 2018 |
Market price as of July 16, 2018 | $7.49 |
Forward Yield | 3.60% |
Rating | A |
CAGR (since 2013) | 21.98% |
Secure Energy Services Inc is a diversified energy services company providing specialized services to upstream oil & natural gas companies operating in in western Canada and in certain regions in the United States. Source: TSX
SES has a relatively short history but has increased its dividend every year since inception in 2013, except for 2016 where it remained flat. This growth has given it a 22.0% CAGR over that period and earns it an A1 rating.
Vermilion Energy Inc.
Ticker | VET.TO |
Amount | $0.23 |
Projected Annual Dividend for 2018 | $2.72 |
Record Date | July 31, 2018 |
Payment Date | August 15, 2018 |
Market price as of July 16, 2018 | $47.26 |
Forward Yield | 5.74% |
Rating | B2 |
CAGR (since 2003) | 2.52% |
Vermilion is an international energy producer that seeks to create value through the acquisition, exploration, development and optimization of producing properties in North America, Europe and Australia. Our business model targets annual organic production growth, along with providing reliable and increasing dividends to investors. Vermilion is targeting growth in production primarily through the exploitation of light oil and liquids-rich natural gas conventional resource plays in Canada and the United States, the exploration and development of high impact natural gas opportunities in the Netherlands and Germany, and through oil drilling and workover programs in France and Australia. Vermilion holds an 18.5% working interest in the Corrib gas field in Ireland. Vermilion is targeting production of between 75,000 – 77,500 boe/d in 2018. Source: Company Filings
While not a consistent grower, VET has paid out a dividend every year since 2003 with no drops. This rates it as a B2 dividend payer, with a CAGR of 2.52%.
Exchange Income Corporation
The Company is a diversified, acquisition-oriented corporation focused on opportunities in two sectors: aviation services and equipment, and manufacturing. The business plan of the Company is to invest in profitable, well-established companies with strong cash flows operating in niche markets. Source: Company Filings
EIF has paid a dividend for the past 15 years, and except for 2010, has increased it every year since 2004. This was even after converting from an income trust to a dividend paying corporation in 2009, which is normally the time that companies cut the amount paid out to shareholders.
MTY Food Group Inc.
Ticker | MTY.TO |
Amount | $0.15 |
Projected Annual Dividend for 2018 | $0.60 |
Record Date | July 31, 2018 |
Payment Date | August 15, 2018 |
Market price as of July 20, 2018 | $57.04 |
Forward Yield | 1.05% |
Rating | A1 |
CAGR (since 2011) | 18.77% |
CAGR (since 2010) | 38.23% |
MTY Food Group Inc is a Canadian franchisor operating in the quick service food industry. It franchises and operates corporate-owned locations under different banners and brands offering multiple cuisines such as Korean, Japanese, and Mexican.
I’m very attracted to companies such as MTY which offer an easy to understand business model with great realized returns to shareholders. Since starting its dividend in 2010, it has increased it every year except for 2017. At the current pace, the dividend is projected to increase 30% year over year, paying $0.60/share vs. 2017’s $0.46/share. While the company started paying a dividend in 2010, for comparison reasons we measure against 2011 since that was the first full year of payments. Based on that, the CAGR is 18.8%, which is not that bad.
Cineplex Inc.
Ticker | CGX.TO |
Amount | $0.15 |
Projected Annual Dividend for 2018 | $1.72 |
Record Date | July 31, 2018 |
Payment Date | August 31, 2018 |
Market price as of July 20, 2018 | $29.48 |
Forward Yield | 5.83% |
Rating | A1B2 |
CAGR (since 2004) | 2.92% |
CAGR (since 2003) | 19.99% |
A leading entertainment and media company, Cineplex (CGX) is a top-tier Canadian brand that operates in the Film Entertainment and Content, Amusement and Leisure, and Media sectors. As Canada’s largest and most innovative film exhibitor, Cineplex welcomes over 70 million guests annually through its circuit of 163 theatres across the country. Cineplex also operates successful businesses in digital commerce (CineplexStore.com), food service, alternative programming (Cineplex Events), cinema media (Cineplex Media), digital place-based media (Cineplex Digital Media), amusement solutions (Player One Amusement Group) and an online eSports platform for competitive and passionate gamers (WorldGaming.com). Additionally, Cineplex operates a location-based entertainment business through Canada’s newest destination for ‘Eats & Entertainment’ (The Rec Room) and will also be opening new complexes specially designed for teens and families (Playdium) as well as exciting new sports and entertainment venues across Canada (Topgolf). Cineplex is a joint venture partner in SCENE, Canada’s largest entertainment loyalty program. Source: Company Filings
Love the movies? Then you’ll love Cineplex. The company has been a mainstay in the Canadian movie industry for decades, paying shareholders since 2003. Initially it was an income paying trust but converted to a dividend paying corporation in 2009. Its CAGR since 2004 (first full year of distributions) is 2.92%, which not stellar, has definitely beaten out inflation. At today’s prices it has a forward yield of 5.83% and may be a worthy addition to your portfolio as an income payer from the entertainment industry.