BMO and Metro

When I was reviewing Bank of Montreal (BMO) and Metro, I was surprised that Metro had produced more in dividends over 30 years than BMO because BMO has a higher dividend yield. I found that interesting. It is probably because Metro grew faster over the last 30 years.

For BMO I have shown what would happen over 30 years if you bought around $1,000 of stock. Dividends would amount of $5,450.55. BMO has a higher dividend of 2% to 4% and sometimes higher than 4%.

If you had invested in this company in December 1993, for $1,008.31 you would have bought 73 shares at $13.81 per share. In December 2023, after 30 years you would have received $5,450.55 in dividends. The stock would be worth $9,571.03. Your total return would have been $15,021.58. This is a total return would be a total return of 12.85% per year with 7.79% from capital gain and 5.06% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$13.81	$1,008.31	73	30	$5,450.55	$9,571.03	$15,021.58

The current dividend yield is moderate with dividend growth moderate. The current dividend yield is moderate (2% to 4% ranges) at 4.67%. The 5, 10 and historical dividend yields are also moderate at 4.14%, 4.12% and 4.46%. The dividend growth is currently moderate (8% to 14% ranges) at 9% per year over the past 5 years. The most recent dividend increase occurred in 2023 and it was for 2.7%. However, this bank generally raises dividend several times in each year. Last dividends were raised 3 times.

For Metro I have shown what would happen over 30 years if you bought around $1,000 of stock. Dividends would amount to $10,533.00. Metro has a low dividend of less than 2% and often lower than 1%.

If you had invested in this company in December 1993, for $1,000.16 you would have bought 1064 shares at $0.94 per share. In December 2023, after 30 years you would have received $10,533.00 in dividends. The stock would be worth $72,979.76. Your total return would have been $83,512.76. This is a total return would be a total return of 17.50% per year with 15.37% from capital gain and 2.13% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$0.94	$1,000.16	1,064	30	$10,533.00	$72,979.76	$83,512.76

The current dividend yield is low with dividend growth moderate. The dividend yield is low (below 2%) at just 1.80%. The 5, 10 and historical dividend yields are also low at 1.60%, 1.60% and 1.47%. The dividend increases are moderate (8% to 14% ranges) at 11% per year over the past 5 years. The last dividend increase was for 10% and was made in 2023.

On my other blog I wrote yesterday about Quebecor Inc (TSX- QBR.B, OTC- QBCRF) ... learn more. Next, I will write about Canadian National Railway (TSX-CNR, NYSE-CNI) ... learn more on Wednesday, January 31, 2024 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Desjardins Top Picks 2024

This article on Investing.com talks about Desjardins Securities Top TSX pics for 2023 and Market Trends for 2023.

On my other blog I wrote yesterday about Enghouse Systems Ltd (TSX-ENGH, OTC-EGHSF) ... learn more. Next, I will write about Exco Technologies Ltd (TSX-XTC, OTC-EXCOF) ... learn more on Friday, January 26, 2024 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Evaluate a Stock

The blogger of Savvy New Canadians talks about How to Evaluate a Stock before Investing on his site of Savvy New Canadians.

I tend to look only at dividends stocks. I look at dividend yields and its growth plus Dividend Payout Ratios (DPR). I also look at total return over many years. Looking at dividend yields and growth with the total return helps me to determine if I want to continue to look at a stock.

After than I am looking at Debt Ratios. Things like Long Term Debt/Market Cap Ratio, Intangibles/Market Cap Ratios, Liquidity Ratio, Debt Ratio, Leverage and Debt/Equity Ratios.

I look at growth rates for things like Revenue, Adjusted Earnings per Share, Net Income, Cash Flow, Dividend Growth and Stock Price Growth.

Next, I look to see if a stock is selling at a reasonable price, or not. I think the most important one is current dividend yield compared to the 10 year median dividend yield. I like to have this test confirmed by looking at the Price/Sales Ratio compared to the 10 year P/S Ratio. I also look at the current dividend yield compared to the historical median dividend yield.

I consider the current Price/Book Value Ratio compared to the 10 year P/B Ratio. I look at the Price/Cash Flow Ratio compared to the 10 year P/CF Ratio. I look at the Price/Graham Price ratio compared to the 10 year median P/GP Ratio. I look at the Price/Adjusted Earnings per Share Ratio compared to the 10- year median P/AEPS (if there is one). I look at the Price Earnings per Share Ratio compared to the 10-Year P/E Ratio.

I like to buy good dividend growth stocks at a reasonable price. It is nice to buy cheap, but that generally is not possible.

On my other blog I wrote yesterday about Transcontinental Inc (TSX-TCL.A, OTC-TCLAF) ... learn more. Next, I will write about Enghouse Systems Ltd (TSX-ENGH, OTC-EGHSF) ... learn more on Wednesday, January 24, 2024 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Dividend Beginner

You might want to explore this site of Dividend Beginner. The blogger appears to be Canadian as he is talking about Canadian stocks. He has blog entries and some Stock Picking Strategies. Although the last entries are in 2022, there is some good information here for people starting out wanting to be a dividend investor.

Of course, the problem with Bloggers is that they come and go.

On my other blog I wrote yesterday about National Bank of Canada (TSX-NA, OTC-NTIOF) ... learn more. Next, I will write Canadian Imperial Bank of Commerce (TSX-CM, NYSE-CM) ... learn more on Friday, January 19, 2024 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Motherhood Penalty

Mary Harrington on Reactionary Feminist talks about Stell Creasy’s attitude to motherhood. Basically, Mary Harrington is pointing out that different people wanted different things. I personally did not think that there was a Motherhood Penalty and I ended up being a single mom because my husband died.

On my other blog I wrote yesterday about Bank of Nova Scotia (TSX-BNS, NYSE-BNS) ... learn more. Next, I will write about National Bank of Canada (TSX-NA, OTC-NTIOF) ... learn more on Wednesday, January 17, 2024 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Danish Ghazi

Danish Ghazi on YouTube talks about his picks of 5 Best Canadian Dividend Growth Stocks to Buy Now 2024. You should listen to his video to find out why he has these picks.

His 5 picks are:

• Open Text Corp (TSX-OTEX)
• Enghouse Systems Ltd (TSX-ENGH)
• Quebecor Inc (TSX-QBR.B)
• And BCE Inc (TSX-BCE
• Telus (TSX-T)

When we look at bloggers, we must not forget that there is a lot of good information also on YouTube. His channel is here. He is also on Substack.

On my other blog I wrote yesterday about Calian Group Ltd (TSX-CGY, OTC-CLNFF) ... learn more. Next, I will write about Toronto Dominion Bank (TSX-TD, NYSE-TD) ... learn more on Friday, January 12, 2024 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Job Ideas for Retirees

This is an American list for Part-Time Job ideas for retirees on Senior Resource but these ideas could also work in Canada.

On my other blog I wrote yesterday about Rogers Sugar Inc (TSX-RSI, OTC-RSGUF) ... learn more. Next, I will write about Calian Group Ltd (TSX-CGY, OTC-CLNFF) ... learn more on Wednesday, January 10, 2024 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures. January 10, 2024

Something to Buy January 2024

There is always something to buy in the stock market. On Tuesday, I put out a list of the stocks that I covered and showed what stock might be a good deal based on dividend yield. Now I am trying to categorize what sorts of stocks may be a good deal based on dividend yield. The dividend yield test in this note is a quick way of finding possible stock buys. See my Spreadsheet .

The advantages to using dividend yield to judge how cheap or expensive a stock is, is that you are not using estimates or old data (like last reported quarter's data). You are using today's stock price and today's dividend yield. However, this is just a place to start. It is a good idea to check the stock price with other tests, especially the P/S Ratio test. For other testing, like P/E Ratios, P/S Ratios, P/CF Ratios, P/BV Ratios and Price/Graham Price Ratios, you use estimates or data from the last reported financial quarter.

If a stock is showing as a buy using the dividend yield test, I usually like to verify it is a buy by doing a P/S Ratio test. Here you compare the current P/S Ratio to the 10 year median P/S Ratio. If the current P/S Ratio is lower than the 10 year median, then the stock is a buy. I note that Morningstar gives a current P/S Ratio. The 10 year median ratio is shown in my review of a stock. The 10 year median ratio in a review is good for one year from the date of review.

This historical dividend yield test does not work well for old Income Trust companies. These companies had quite high Dividend Yields which will probably never be seen again. So, I started a column called VT (for Valid Test) and this applies to checking stock price using dividend yield. If it is not a valid test, I use N to show this. For these stocks, you might be better comparing the current dividend yield to the 10 year median dividend yield.

However, no system is perfect. But if you are interested in buying a stock a list of stocks cheap or reasonable using dividend yield data might be a good place to start.

Categorizing stocks is not as simple as it might seem. Every site you go to has categorized stocks a bit differently. I try to keep this as simple as possible. See Something to Buy January 2023 Spreadsheet above to see what stocks are showing whether a stock is relatively cheap based on historical high dividend yields (P/Hi), historical median dividend yields (P/Med), 10 year high dividend yields (P/10Hi), or 10 year median dividend yields (P/10Yr). As in other spreadsheets, you can highlight a line or several lines for better viewing.

In the following notes I am only going to list stocks showing as cheap using the historical high dividend yields (P/Hi) and historical median dividend yields (P/Med).

I follow 21 stocks in the Consumer Discretionary category. Sleep Country Canada Holdings Inc (TSX-ZZZ, OTC-SCCAF) has been added to this list as I am now following this stock.

Three of these stocks (14%) are showing as cheap by the historically high dividend yield. They are Canadian Tire Corp (TSX-CTC.A, OTC-CDNAF), High Liner Foods (TSX-HLF, OTC-HLNFF), and Leon's Furniture (TSX-LNF, OTC-LEFUF). There is no change from last month.

Thirteen (62%) of Consumer Discretionary are showing cheap by historical median dividend yield. They are BRP Inc (TSX-DOO, NASDAQ-DOOO), Canadian Tire Corp (TSX-CTC.A, OTC-CDNAF), Goodfellow Inc (TSX-GDL, OTC-GFELF), High Liner Foods (TSX-HLF, OTC-HLNFF), K-Bro Linen Inc (TSX-KBL, OTC-KBRLF), Keg Royalties Income Fund, (TSX-KEG.UN, OTC-KRIUF), Leon's Furniture (TSX-LNF, OTC-LEFUF), Linamar Corporation (TSX-LNR, OTC-LIMAF) Magna International Inc. (TSX-MG, NYSE-MGA), Molson Coors Canada (TSX-TPX.B, NYSE-TAP), Richelieu Hardware Ltd (TSX-RCH, OTC-RHUHF), Sleep Country Canada Holdings Inc (TSX-ZZZ, OTC-SCCAF) and Stingray Digital Group Inc (TSX-RAY.A). K-Bro Linen Inc (TSX-KBL, OTC-KBRLF) and Sleep Country Canada Holdings Inc (TSX-ZZZ, OTC-SCCAF) has been added to this list. Savaria Corporation (TSX-SIS, OTC-SISXF) has been removed from this list

I follow 13 Consumer Staples stocks. Two stocks (15%) are showing as cheap by the historically high dividend yield. They are Jamieson Wellness Inc (TSX-JWEL, OTC-JWLLF), and Saputo Inc. (TSX-SAP, OTC-SAPIF). Maple Leaf Foods Inc (TSX-MFI, OTC-MLFNF) has been removed from this list.

Eight stocks (62%) are showing cheap by historical median dividend yield. These are Alimentation Couche-Tard (TSX-ATD.B, OTC-ANCUF), Andrew Peller Ltd (TSX-ADW.A, OTC-ADWPF), Empire Company Ltd (TSX-EMP.A, OTC-EMLAF), Jamieson Wellness Inc (TSX-JWEL, OTC-JWLLF), KP Tissue Inc (TSX-KPT, NYSE-KPTSF), Maple Leaf Foods Inc (TSX-MFI, OTC-MLFNF), Metro Inc (TSX-MRU, OTC-MTRAF), and Saputo Inc. (TSX-SAP, OTC-SAPIF). Loblaw Companies (TSX-L, OTC-LBLCF) has been removed from this list.

I follow Six Health Care stocks. Two of these stocks (33%) are showing as cheap by the historically high dividend yield. They are Medtronic PCL (NYSE-MDT), Neighbourly Pharmacy Inc (TSX-NBLY, OTC-NBLYF). There is no change from last month.

Four stocks (67%) are cheap by the historical median dividend yield. The stocks are Johnson and Johnson (NYSE-JNJ), Medtronic Inc. (NYSE-MDT), Neighbourly Pharmacy Inc (TSX-NBLY, OTC-NBLYF), and Sienna Senior Living Inc (TSX-SIA, OTC-LWSCF). There is no change from last month.

I follow 9 Energy stocks. No stock (0%) is showing as cheap by the historical high dividend yield. There is no change from last month.

There are Five stocks (56%) showing as cheap by historical median dividend yield. They are Canadian Natural Resources (TSX-CNQ, NYSE-CNQ), Cenovus Energy Inc (TSX-CVE, NYSE-CVE), Mullen Group (TSX-MTL, OTC-MLLGF), Ovintiv Inc (TSX-OVV, OTC-OVV), and Suncor Energy (TSX-SU, NYSE-SU). There is no change from last month.

I follow 25 Financial stocks under the categories of Banks (7), Financial Services (13), and Insurance (5).

I follow 7 Bank stocks. None of these stocks (0%) are showing as cheap by the historically high dividend yield. There is no change from last month.

Seven stocks (100%) are showing as cheap by historical median dividend yield. They are Bank of Montreal (TSX-BMO, NYSE-BMO), Bank of Nova Scotia (TSX-BNS, NYSE-BNS), Barclays PLC (LSE-BARC, NYSE-BCS), Canadian Imperial Bank of Commerce (TSX-CM, NYSE-CM), National Bank of Canada (TSX-NA, OTC-NTIOF), and Royal Bank of Canada (TSX-RY, NYSE-RY) and Toronto Dominion Bank (TSX-TD, NYSE-TD). There is no change from last month.

I follow 13 Financial Service stocks. One of these stocks (0.8%) are showing as cheap by the historically high dividend yield. It is Accord Financial Corp (TSX-ACD, OTC-ACCFF). There is no change from last month.

Ten stocks (77%) are showing as cheap by the historical median dividend yield. These stocks are Accord Financial Corp (TSX-ACD, OTC-ACCFF), AGF Management Ltd (TSX-AGF.B, OTC-AGFMF), Alaris Equity Partners Income Trust (TSX-AD.UN, OTC-ALARF), Atrium Mortgage Investment Corp (TSX-AI, OTC-AMIVF), CI Financial (TSX-CIX, NYSE-CIXX), Element Fleet Management Corp (TSX-EFN, OTC-ELEEF), EQB Inc (TSX-EQB, OTC-EQGPF), Goeasy Ltd (TSX-GSY, OTC-EHMEF), IGM Financial (TSX-IGM, OTC-IGIFF), and Power Corp (TSX-POW, OTC-PWCDF). There is no change from last month.

I follow 5 Insurance stocks. None of these stocks (0%) are showing as cheap by the historically high dividend yield. There is no change from last month.

Four stocks (80%) are showing as cheap by historical median dividend yield. These stocks are Great-West Lifeco Inc. (TSX-GWO, OTC-GWLIF), IA Financial Corp (TSX-IAG, OTC-IDLLF), and Manulife Financial Corp (TSX-MFC, NYSE-MFC), Sun Life Financial (TSX-SLF, NYSE-SLF). There is no change from last month.

I follow 33 Industrial stocks. Because I have so many and Industrial, I have divided my Industrial stocks into 4 separate categories under Industrial. They are Construction (7), Industrial (3), Manufacturing (5) and (Business) Services (18).

I have 7 Construction stocks. One stock (14%) is showing as cheap by the historically high dividend yield. It is Aecon Group Inc (TSX-ARE, OTC-AEGXF). There is no change from last month.

One stock (14%) is showing as cheap by historical median dividend yield. It is Aecon Group Inc (TSX-ARE, OTC-AEGXF). There is no change from last month.

I have 3 stocks left with the sub-index of Industrial. None of these stocks (0%) are showing as cheap by the historically high dividend yield. There is no change from last month.

One stock (33%) is showing as cheap by historical median dividend yield. It is Finning International Inc. (TSX-FTT, OTC-FINGF). There is no change from last month.

I have 5 Manufacturing stocks. None of these stocks (0%) are showing as cheap by the historically high dividend yield. There is no change from last month.

One stock (14%) is showing as cheap by historical median dividend yield. It is Exco Technologies Ltd. (TSX-XTC, OTC-EXCOF). There is no change from last month.

I follow 18 Services stocks. Three of these stocks (17%) is showing as cheap by the historically high dividend yield. They are McCoy Global Inc (TSX-MCB, OTC-MCCRF), Titanium Transportation Group Inc (TSX-TTR, OTC-TTTGF), and Transcontinental Inc (TSX-TCL.A, OTC-TCLAF). There is no change from last month.

Nine stock (50%) are showing as cheap by historical median dividend yield. They are Algoma Central Corporation (TSX-ALC, OTC-AGMJF), Canadian National Railway (TSX-CNR, NYSE-CNI), GFL Environmental Inc (TSX-GFL, NYSE-GFL), McCoy Global Inc (TSX-MCB, OTC-MCCRF), Pason Systems Inc (TSX-PSI, OTC-PSYTF), Pulse Seismic Inc. (TSX-PSD, OTC-PLSDF), Titanium Transportation Group Inc (TSX-TTR, OTC-TTTGF), Transcontinental Inc (TSX-TCL.A, OTC-TCLAF), and Trican Well Service Ltd (TSX-TCW, OTC-TOLWF). Wajax Corp (TSX-WJX, OTC-WJXFF) has been removed from this list.

I follow 10 Material stocks. No stock (1%) is showing as cheap by the historically high dividend yield. Agnico Eagle Mines Ltd (TSX-AEM, NYSE-AEM) has been removed from this list.

One stock (10%) is showing as cheap by historical median dividend yield. That stock is Barrick Gold Corp (TSX-ABX, NYSE-ABX). Adentra Inc (TSX-ADEN, OTC-HDIUF) and Agnico Eagle Mines Ltd (TSX-AEM, NYSE-AEM), have been removed from this list.

I follow 10 Real Estate stocks. No stocks (0%) are showing as cheap by historically high dividend yield. There is no change from last month.

Six stocks (60%) are showing as cheap by historical median dividend yield. They are Allied Properties REIT (TSX-AP.UN, OTC-APYRF), Artis REIT (TSX-AX.UN, OTC-ARESF), First Capital REIT (TSX-FCR.UN, OTC-FCXXF), Granite REIT (TSX-GRT.UN, NYSE-GRP.U), Melcor Developments Inc. (TSX-MRD, OTC-MODVF), and SmartCentres REIT (TSX-SRU.UN, OTC-CWYUF). Choice Properties REIT (TSX-CHP.UN, OTC-PPRQF), and H & R REIT (TSX-HR.UN, OTC-HRUFF) have been removed from this list.

I follow 2 of the Telecom Service stocks. One of the stocks (50%) are showing as cheap by historically high dividend yield. It is BCE (TSX-BCE, NYSE-BCE). There is no change from last month.

Two stocks (100%) are showing cheap by historical median dividend yield. These stocks are BCE (TSX-BCE, NYSE-BCE), and Telus Corp (TSX-T, NYSE-TU). There is no change from last month.

I follow 8 Tech stocks. No stock (0%) is showing as cheap by historical high dividend yield. Enghouse Systems Limited (TSX-ENGH, OTC-EGHSF) has been removed from this list.

Three stock (38%) are showing cheap by historical median dividend yield. They are Enghouse Systems Limited (TSX-ENGH, OTC-EGHSF), Evertz Technologies (TSX-ET, OTC-EVTZF), and Sylogist Ltd (TSXV-SYZ, OTC-SYZLF). There is no change from last month.

I follow 7 of the Infrastructure Type utility companies as Brookfield Infrastructure Partners (TSX-BIP.UN, NYSE-BIP) has been removed from this list. One of the stocks (13%) are showing as cheap by historical high dividend yield. It is TC Energy Corp (TSX-TRP, NYSE-TRP). There is no change from last month.

Four stocks (57%) are showing cheap by historical median dividend yield. They are Capital Power Corp (TSX-CPX, OTC-CPRHF), Enbridge Inc. (TSX-ENB, NYSE-ENB), Keyera Corp (TSX-KEY, OTC-KEYUF) and TC Energy Corp (TSX-TRP, NYSE-TRP). Keyera Corp (TSX-KEY, OTC-KEYUF) has added back to this list.

I follow 9 of the Power Type utility companies. One stock (13%) is showing as cheap by historical high dividend yield. It is ATCO Ltd (TSX-ACO.X, OTC-ACLLF). There is no change from last month.

Six stocks (67%) are showing as cheap by historical median dividend yield. Those stocks are Algonquin Power & Utilities Corp (TSX-AQN, NYSE-AQN), ATCO Ltd (TSX-ACO.X, OTC-ACLLF), Canadian Utilities Ltd (TSX-CU, OTC-CDUAF), Emera Inc (TSX-EMA, OTC-EMRAF), Fortis Inc (TSX-FTS, OTC-FRTSF), and Innergex Renewable Energy (TSX-INE, OTC-INGXF). There is no change from last month.

On my other blog I wrote yesterday about Bank of Montreal (TSX-BMO, NYSE-BMO) ... learn more. Next, I will write about Royal Bank of Canada (TSX-RY, NYSE-RY) ... learn more on Friday, January 5, 2024 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk . The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Dividend Stocks January 2024

First, I want to point out that not all the stocks I follow are great investments. I follow a diverse selection of stocks. There are some that I would never invest in personally.

I follow several resource stocks even though I personally have little invested in this area. I follow what I find interesting and with resource stocks, I think it is important for Canadians to know what is happening in the resource area. On the other hand, I do follow of good number of great dividend growth stocks. You might want to get the free weekly newsletter from Canadian Stock Channel which says what might be the best Canadian Dividend Stocks to buy at the present time.

The theory is that you should use the dividend yield to see if a dividend stock is selling at a stock price that is relatively cheap. A stock price is considered cheap if it is selling at a dividend yield higher than the historical high yield or higher than the historical average yield or historical median yield. Some use the 10 year average or median yield rather than the historical ones. I use median yields, always. See my spreadsheet at dividend growth stocks that I just updated for January 2024. On this list,

• I have 15 stocks with a dividend yield higher than the historical high dividend yield,
• I have 85 stocks with a dividend yield higher than the historical median dividend yield
• I have 10 stocks with a dividend yield higher than the 10 year high dividend yield and
• 98 stocks with a dividend yield higher than the 10 year average dividend yield.

When I did my list last list in December 2023,

• I have 17 stocks with a dividend yield higher than the historical high dividend yield,
• I have 90 stocks with a dividend yield higher than the historical median dividend yield
• I have 14 stocks with a dividend yield higher than the 10 year high dividend yield and
• 101 stocks with a dividend yield higher than the 10 year average dividend yield.

When I did my list in January 2014,

• I had 9 stocks with a dividend yield higher than the historical high dividend yield,
• I had 45 stocks with a dividend yield higher than the historical average dividend yield and
• 39 stocks with a dividend yield higher than the 5 year median dividend yield.

If you had one share of each stock, total dividends last month would be $204.90. This month dividends would be $204.83. It can vary as because some stocks are paid in US$ and so this figure is affected by currency exchange. Of the stock that I follow 10 stocks has raised their dividends since last month. If I did an index based on stock price, the index for last month would be 697.10 and this month 727.70.

Alimentation Couche-Tard (TSX-ATD, OTC-ANCTF)
AltaGas Ltd (TSX-ALA, OTC-ATGFF)
Bank of Montreal (TSX-BMO, NYSE-BMO)
EQB Inc (TSX-EQB, OTC-EQGPF)
Evertz Technologies Ltd (TSX-ET, OTC-EVTZF)

Granite REIT (TSX-GRT.UN, NYSE-GRP.U)
National Bank of Canada (TSX-NA, OTC-NTIOF)
Pizza Pizza Royalty Corp (TSX-PZA, OTC-PZRIF)
TECSYS Inc (TSX-TCS, OTC-TCYSF)
TFI International Inc (TSX-TFII, OTC-TFIFF)

Of the stocks I follow, 0 stock has cut their dividends.

Of the stocks I follow, 0 stocks have suspended or terminated their dividend.

I am now following a new stock to my list. It is of Sleep Country Canada Holdings Inc (TSX-ZZZ, OTC-SCCAF). I am again short from my maximum of 156 because of stock that I was following were acquired by other companies last year.

Of the stocks I follow, the following declined the most in their stock price. Of the stocks I follow, 32.68% had declining stock prices. Last month 15.69% of the stock had declining prices.

Name	Exch	Sym	Exch	Sym	Chge SP
Reitmans (Canada) Ltd	TSX	RET.A	OTC	RTMAF	-18.69%
Obsidian Energy Ltd	TSX	OBE	NYSE	OBE	-12.55%
ARC Resources Ltd	TSX	ARX	OTC	AETUF	-11.12%
Blackberry Ltd. (RIM)	TSX	BB	NYSE	BB	-9.27%
Cenovus Energy Inc	TSX	CVE	NYSE	CVE	-7.65%
Empire Company Ltd	TSX	EMP.A	OTC	EMLAF	-5.63%
Telus Corp	TSX	T	NYSE	TU	-5.60%
K-Bro Linen Inc	TSX	KBL	OTC	KBRLF	-5.31%
Canadian Natural	TSX	CNQ	NYSE	CNQ	-5.26%
Superior Plus Corp.	TSX	SPB	OTC	SUUIF	-5.12%

Of the stock that I follow, these stocks gained the most in their stock price. Of the stock I follow, 64.71% had increasing stock price. And, 2.61% or 4 stocks had the same stock price as last month. Last month 83.66% of the stock had increasing stock prices and 0.65% or 1 stock stayed the same.

Name	Exch	Sym	Exch	Sym	Chge SP
Bank of Montreal	TSX	BMO	NYSE	BMO	15.35%
Russel Metals	TSX	RUS	OTC	RUSMF	15.46%
McCoy Global Inc	TSX	MCB	OTC	MCCRF	16.20%
Chesswood Group	TSX	CHW	OTC	CHWWF	16.86%
Cargojet Inc	TSX	CJT	OTC	CGJTF	17.14%
Quarterhaill Inc	TSX	QTRH	OTC	QTRHF	18.18%
Bird Construction Inc	TSX	BDT	OTC	BIRDF	18.23%
Transcontinental Inc	TSX	TCL.A	OTC	TCLAF	19.34%
Adentra Inc	TSX	ADEN	OTC	HDIUF	19.69%
Dorel Industries	TSX	DII.B	OTC	DIIBF	26.52%

Most of my stocks started out as Dividend Payers. Currently 11 stocks are not paying any dividends and this would be some 7.19% of the stocks that I follow. Three of these stocks never had dividends, so 5.23% of the stocks I follow have suspended or do not pay a dividend. The three stocks that never paid dividends are Ballard Power Systems Inc. (TSX-BLD, NASDAQ-BLDP), Blackberry Ltd. (TSX-BB, NASDAQ-BBRY) and Trigon Metals Inc. (TSX-TM, OTC-PNTZF).

I am showing whether a stock is relatively cheap based on historical high dividend yields (P/Hi), historical average dividend yields (P/Ave), historical median dividend yields (P/Med) or on 10 year median dividend yields (P/10Y). See these fields on the right side of the file. You can highlight a particular stock using your cursor to highlight the appropriate line.

There are always some stocks to buy because they are priced reasonably. There are always stocks to currently avoid because they are overpriced. Looking at dividend growth stocks that are selling at stock prices that give them a dividend yield above the historical median dividend yield are probably the best bet.

The stocks that are selling at prices that give them a dividend yield above the historical high yield could be good stocks to buy. However, these stocks may be selling so cheap because of current troubles, especially financial troubles and should be treated with caution. Do not forget that I have all the stocks I follow on this spreadsheet and some are much better investments than others.

You should always investigate a stock before you buy. Sometimes different stocks in certain sectors are just out of favour or the stock market is just in one of its declines. However, a stock may be relatively cheap because it has problems. That is why you should always investigate a stock before buying.

Looking at stock this way is equivalent to a stock filter. A main problem I know of is for the old income trusts. These companies have generally lowered their dividend yields forever and they will probably never get back to the old dividend yield highs they made as an income trust company. For these stocks, you might be better comparing the current dividend yield to the 5 year median dividend yield. I also started a column called VT (for Valid Test) and this applies to checking stock price using dividend yield. If it is not a valid test, I use N to show this.

Also, on some stocks I have a lot more information years in my spreadsheets than for other stocks. So, finding a stock on the list as "cheap" is only the first step in finding a stock to buy. This is the same with any other sort of stock filters that you can use.

The last thing to remember is that I have entering figures into a spreadsheet. I could put them in incorrectly, I can transpose figures and I can misread figures. This is another great reason why you should check a stock out before investing. As this is just a filter, it works better on some stocks than on others.

See my entry on my methodology in establishing the historical dividend yield highs and lows for the stocks that I cover. I have an entry on my introduction to Dividend Growth. You might want to look at my original entry on Dividend Growth Stocks. I have also written about why I like Dividend Growth companies.

On my other blog I wrote today about Metro Inc (TSX-MRU, OTC-MTRAF) ... learn more. Next, I will write about be Bank of Montreal (TSX-BMO, NYSE-BMO) ... learn more on Wednesday, January 3, 2024 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my website for stocks followed and investment notes. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter or StockTwits. I am on Instagram with #walktoronto.