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Summary
- The pandemic continues to hamper the sales and growth of some enterprises across sectors.
- A few top players were forced to cut down on their cash spending and dividend payouts.
- On the other hand, a number of Canadian companies that have comparatively lower stock prices continue to pay dividends to their shareholders.
The COVID-19 pandemic continues to hamper the sales and growth of some enterprises across sectors, including a few top players that were forced to cut down on their cash spending and dividend payouts.
On the other hand, a number of Canadian companies that have comparatively lower stock prices continue to pay dividends to their shareholders.
Let us explore five TSX-listed stocks under price of C$ 25 that are paying dividends.
- Algonquin Power & Utilities Corp (TSX: AQN)
Algonquin Power & Utilities Corp is a North America-based company that distributes natural gas, regulated water and electricity. Its stocks closed at a value of C$ 19.22 apiece on July 22, 2021.
Algonquin noted an increase of 36 per cent year-over-year (YoY) in its total revenues of US$ 634.5 million for the first quarter of 2021.
Its adjusted net earnings for the latest quarter stood at US$ 124.5 million, noting an increase of 21 per cent YoY.
Along with its Q1 earnings report, AQN also announced a 10 per cent dividend increase, up from a total yearly dividend of US$ 0.6204 apiece to that of US$ 0.6824 apiece.
Algonquin presently pays a quarterly dividend of US$ 0.171 per share, which was last distributed on July 15 this year.
The company posted return on equity (ROE) of 19.29 per cent and return on assets (ROA) of 6.34 per cent, as per TMX. Its price-to-earnings (P/E) ratio was 9.8 and debt-to-equity (D/E) stood at 1.25.
- Pizza Pizza Royalty Corp (TSX:PZA)
Pizza Pizza Royalty Corp operates a range of restaurants across Canada. Its stock closed at a price of C$ 10.82 on July 22.
The company’s revenues for first quarter ended March 31, 2021, showed a decline of 13.84 per cent YOY to C$ 7.03 million. Its same-store sales dwindled by 13.3 per cent YoY.
Despite the drop in sales Pizza Pizza Royalty announced dividends of C$ 4.1 million in its Q1 2021 results. It presently pays monthly dividends of C$ 0.055 apiece, which is set to be paid next on August 13.
Its ROE stood at 8.16 per cent, while its ROA was 6.51 per cent. It held a price-to-book ratio (P/B) of 1.2.
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- Manulife Financial Corporation (TSX: MFC)
Manulife Financial Corporation deals in wealth management and life insurance products covering geographies like Canada, Asia and the US.
Manulife’s Q1 2021 results posted core earnings of C$ 1.6 billion, an increase of 67 per cent YoY. Its net income was C$ 783 million in this quarter.
Its earnings per share (EPS) was 2.67, P/E ratio stood at 9.1 and P/B ratio was 1.04, as per TMX.
The firm pays a quarterly dividend of C$ 0.28 apiece, last paid on June 21. The dividend grew at a rate of 9.85 per cent in the past five years.
- NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN)
The real estate investment trust (REIT) provides interested investors with a portfolio of healthcare-focused real estate options. It closed at a price of C$ 12.96 on July 22.
In Q1 2021, the REIT’s total revenue stood at C$ 92.6 million due to an improved cash collection in the quarter. Its total assets under management (AUM) reached to C$ 7.7 billion, up 16.2 per cent YoY.
The REIT’s P/E ratio was 9.2 and ROE was 15.28 per cent.
NorthWest Healthcare Properties REIT is set to pay a monthly dividend of C$ 0.067 apiece on August 13.
- Cenovus Energy Inc. (TSX: CVE)
The energy player focuses on the production of natural gas, crude oil, etc in Canada, and refining operations in the US. Its stock closed at C$ 10.13 on July 22.
Cenovus posted gross sales of C$ 9,523 million in Q1 2021, which increased from C$ 4,015 million in Q1 2020. In the latest quarter, the energy company reported net earnings of C$ 220 million, as against a loss of C$ 1,797 million in FY2021.
Cenovous Energy pays a quarterly dividend of C$ 0.018 apiece, which was last paid on June 30 this year.
