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Many Canadian investors looking for a passive income source come to the Toronto Stock Exchange (TSX) to explore their options. As of market close, over 170 million shares were traded on the S&P/TSX Composite Index on Friday, April 23.
If you’re looking to add some stocks to your investment portfolio before this month ends, here are some TSX-listed companies you could consider exploring.
1. Manulife Financial Corporation (TSX:MFC)
In the past ten days, 4.8 million shares of Manulife Financial Corporation were traded on the TSX. The life insurance and wealth management services provider has a market capitalization of over C$ 51 billion and its price-to-earnings ratio stands at 9.1, as per TMX data.
In the past six months, Manulife stock grew by over 38 per cent. It has expanded by over 65 per cent in the past year.
1-year chart of stock performance of Manulife Financial (Source: EODHD/Others/Thomson Reuters)
Manulife also distributes a quarterly dividend of C$ 0.28. The company’s net income ballooned to C$ 5.9 billion in 2020, up from C$ 5.6 billion in 2019. Its diluted earnings per common share was up to C$ 2.93 in 2020.
2. Bank of Nova Scotia (TSX:BNS)
One of the leading banks in Canada, The Bank of Nova Scotia offers a 10.1 per cent return on equity (ROE) and in the past three months, its stock has grown by over 12 per cent. Also know as Scotiabank, it distributes C$ 0.90 as a quarterly dividend, which currently has a dividend yield of 4.615 per cent.
1-year chart of stock performance of Bank of Nova Scotia (Source: EODHD/Others/Thomson Reuters)
In the last year, BNS stock grew by about 48 per cent and outperformed the S&P TSX Diversified Banks (Sub Industry) Index, which plunged by about three per cent during the same period.
In Q1 2021, the company achieved a net income of C$ 2,398 million, up from C$ 2,326 million in the first quarter of 2020. Its diluted earnings per share increased to C$ 1.86, up by 1 per cent year-over-year (YoY).
3. Waste Connections Inc (TSX:WCN)
One of the largest solid waste management and recycling companies in North America, Waste Connections holds a price-to-book (P/B) ratio of 4.52 and offers a 1.41 per cent return on assets (ROA).
1-year chart of stock performance of Waste Connections (Source: EODHD/Others/Thomson Reuters)
In a year, WCN stock grew by about 22 per cent and its year-to-date (YTD) growth stands at nearly 13 per cent. Waste Connections distributes a US$ 0.205 quarterly dividend and in the last five years, it witnessed a dividend growth of 16.62 per cent, as per TMX.
In 2020, the company's revenues increased to US$ 5,445 million from US$ 5,388 million in 2019. The worth of its assets also increased to US$ 1.4 billion in 2020, up from US$ 1.1 billion in 2019.
4. Docebo Inc (TSX:DCBO)
Tech company Docebo Inc has a debt-to-equity (D/E) ratio of 0.02, as per TMX. In the last one month, Docebo’s stock expanded by 22 per cent.
It had a notable growth of nearly 293 per cent over the past year.
1-year chart of stock performance of Docebo Inc (Source: EODHD/Others/Thomson Reuters)
In the fourth quarter of 2020, Docebo’s revenue increased by 53 per cent YoY to US$ 18.8 million. For the same period, its gross profit increased to US$ 51.3 million, up from US$ 33.1 million in Q4 2020.
5. Dollarama Inc (TSX:DOL)
Discount retail store chain Dollarama Inc, in its fourth quarter of 2020, reported sales of C$ 1,103.7 million, up by 3.6 per cent YoY. The sales increased as consumers focused on buying groceries and other commodities due to the surge in coronavirus cases.
Dollarama has a market cap of over C$ 17 billion and its ROE is 475.23 per cent.
Dollarama stock's YTD growth is over 11 per cent, and it soared by nearly 36 per cent in the past year. On April 21, it touched its 52-week high of C$ 58.53 apiece.
1-year chart of stock performance of Dollarama (Source: EODHD/Others/Thomson Reuters)
The tech company distributes a quarterly dividend of C$ 0.05 and it currently registers a dividend yield of 0.348 per cent.
The above constitutes a preliminary view and any interest in stocks should be evaluated further from an investment point of view.
