Kalkine Media lists six Canadian stocks to watch for the long term
- On August 16, 2022, Liberty LLC, owned by Algonquin Power, announced its acquisition of Sandhill Advanced Biofuels, LLC.
- In the second quarter of 2022, NorthWest Healthcare revenue was reported at C$111.8 million compared to the prior year quarter.
- On September 22, 2022, WSP Global Inc (TSX:). announced its acquisition of Capita Real Estate and Infrastructure Ltd. and GL Hearn Ltd.
Going public is a long process. Investors seek consistent growth and income from their stock market investments. The regular stock dividend is also a long-term way to make money in the stock market.
However, rising interest rates and inflation can impact dividend stocks. You can study the market and launch your long-term portfolio.
Here are six dividend-paying stocks and their recent financial performance to study:
Dollarama Inc. (:DOL)
Dollarama Inc. is a retailer operating discount stores. The Company’s portfolio includes a wide range of products, including general merchandise, consumer staples and seasonal items, at low fixed prices. The majority of the Company’s product offerings are provided by general and consumer products.
For the second quarter of fiscal 2023, Dollarama Inc.’s sales growth was reported at 18.2%. EBITDA also increased by 25.8%. Additionally, operating profit also increased by 30.3% and was noted at C$287.4 million.
As of July 31, 2022, Dollarama Inc. decreased to C$70.86 million compared to C$71.05 million as of January 30, 2022. The quarterly dividend paid by the company was noted at C$0.055 per share and the three year dividend growth was of 11.22%.
On October 27, 2022, Dollarama Inc.’s stock price was CA$81.70.
Algonquin Power is a distribution, transmission and generation utility and is Liberty’s parent company. There are two business groups operated by the company – Regulated Services Group and Renewable Energy Group. For the most part, the company operates in the US and Canadian markets.
For Q2 2022, Algonquin Power’s revenue and adjusted EBITDA both increased 18% and were reported at US$624.3 million and US$289.3 million respectively, compared to Q2 2021.
In addition, adjusted net profit amounted to US$109.7 million, with an increase of 19.6% for the same comparative period. The company tracks the dividend cycle on a quarterly basis and pays out $0.181 per share to its shareholders. The dividend yield was noted at 6.241%.
On August 16, 2022, Liberty LLC, owned by Algonquin Power, announced its acquisition of Sandhill Advanced Biofuels, LLC.
NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN)
Northwest Healthcare Properties is committed to providing high quality healthcare real estate properties to its investors. The portfolio offered by the company is generally located in Canada, Germany, Brazil and Australasia.
For the second quarter of 2022, Northwest Healthcare’s revenue increased 24% and was reported at C$111.8 million compared to the prior year quarter.
The company’s total assets also increased in Q2 2022 and were reported at C$8,123.89 million from C$7,064.4 million in Q4 2021. Earnings per share (EPS) is 1 .99 Canadian dollars and the P/E (price-to-gains) ratio was noted at 5.4.
The company pays a dividend of CA$0.067 on a monthly basis, which will then be payable on November 15, 2022.
Brookfield Renewable is an operator and owner of clean energy assets. The two lists of investors offered by the company are Brookfield Renewable Corporation and Brookfield Renewable Partners LP.
For the quarter ended June 30, 2022, Brookfield Renewable Partners reported revenue of US$1,274 million, compared to US$1,019 million in the prior year quarter.
For the reported quarter of fiscal 2022, net income was posted at US$122 million compared to US$110 million in Q2 2021. Cash and cash equivalents also increased to US$823 million from US$530 million US dollars.
The dividend paid by the company on a quarterly basis is $0.32 per share.
The graph below shows the evolution of Brookfield Renewable Partners’ total assets over six months.
WSP Global Inc. (TSX: WSP)
WSP Global Inc. operates with a workforce of 55,000 employees and provides design and engineering services to its clients in the fields of environment, energy, infrastructure and industry. In addition to this, the company offers strategic consulting services.
For the second quarter of 2022, WSP Global Inc.’s revenue increased 5% to C$2.8 billion compared to the second quarter of 2021. Adjusted EBITDA also increased to C$352.2 million and increased by 2.8%, compared to C$342.6 million in Q2 2021.
On September 22, 2022, the company announced the completion of its acquisition of Capita Real Estate and Infrastructure Ltd. and GL Hearn Ltd.
goeasy Ltd is a financial services provider which owns electronics, appliances and furniture. The Company is also engaged in the provision of monthly or weekly rental contracts in the field of household electronic products and appliances to consumers, as well as unsecured installment loans.
For the second quarter of 2022, goeasy Ltd’s organic loan growth increased by 191% to C$216 million, compared to C$74 million in the second quarter of 2021.
EBITDA was C$90.47 million versus C$62.49 million. goeasy Ltd pays a dividend of CA$0.91 per share on a quarterly basis.
In a volatile market, long-term investors can follow a detailed approach to unlock substantial value going forward. Look for dividend-paying stocks that could survive market hiccups and ride out the bumpy ride. Also, different stocks can be explored, such as mid or small caps, to add the element of diversification. The stock market is continually exposed to volatility and uncertainty.
With the ever-changing state of the market, investors need to be aware of the latest market trends. It’s easy to get swayed by uncertainty, but making your portfolio risk-proof takes effort and vigilance. With diversification, you are not subject to risk.
Please note that the above content constitutes a very preliminary observation based on the industry and has a limited scope without any fundamental evaluation or in-depth technical analysis. Any interest in stocks or sectors should be carefully assessed taking into account the associated risks.