Kalkine Media lists three stocks to watch for retirement portfolio

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 Kalkine Media lists three stocks to watch for retirement portfolio
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Highlights

  • In Q3 2022, Fortis’ net earnings were C$ 326 million.
  • Canadian Imperial’s reported net income in Q3 2022 was C$ 1,666 million.
  • In Q3 2022, BCE’s adjusted EBITDA was C$ 2.58 billion.

Investors looking to build their retirement portfolio can look for dividend stocks to support their goals. Check all the company's fundamentals and the potential to grow and curb inflation. This way, it may be feasible for you to understand the company's dividend payout ratio and pattern.

Despite the market volatility, some stocks offer stable dividends throughout. They are less prone to fluctuating market cycles. They may not payout huge dividends but they are consistent in their approach. Identify such stocks and study them thoroughly. Make sure not to rely on them forever. They may change at regular intervals according to the changing market trends.

For your retirement, operate with a long-term approach. As a regular flow of income is required during your retirement phase, weigh every stock from this perspective. Here are three stocks mentioned with their recent financial highlights to analyze:

  1. Fortis Inc. (TSX: FTS)

Fortis Inc. is based in Canada and distributes and operates distribution and utility transmission assets. The company is further engaged in electricity generation and has stakes in Caribbean utilities.

In Q3 2022, Fortis’ net earnings increased to C$ 326 million from C$ 295 million in Q3 2021. The revenue rose to C$ 2,553 million from C$ 2,196 million for the same period. The cash and cash equivalents jumped to C$ 395 million from C$ 225 million. With a dividend per share of C$ 0.565, the company reported a dividend yield of 4.235 per cent.

  1. Canadian Imperial Bank of Commerce (TSX: CM)

Canadian Imperial Bank of Commerce operates in three segments - capital markets, wealth management, and banking (business and retail).

In Q3 2022, the reported net income for the bank was noted at C$ 1,666 million versus C$ 1,730 million in Q3 2021. The total revenue jumped to C$ 5,571 million from C$ 5,056 million. Canadian Imperial’s EPS is C$ 6.99, and reported a P/E (price-to-earnings) ratio of 9.

The Five-year dividend growth of FTS, CM, and BCE:

  1. BCE Inc. (TSX: BCE)

BCE Inc. offers different services in Canada, including broadband, internet (wireless and landline), and phone (landline). The company operates a local exchange carrier and covers most of the areas in Canada. Along with this, the company is also into media services and holds digital assets such as television and radio.  

In Q3 2022, the company's adjusted net earnings jumped to C$ 801 million from C$ 748 million in the year-ago quarter. The adjusted EBITDA rose to C$ 2.58 billion from C$ 2.55 billion. BCE paid a quarterly dividend per share of C$ 0.92 and reported its dividend yield at 5.902 per cent.

Bottom Line

The stocks mentioned above take you through the aspect of diversification. Similarly, keep your portfolio diversified to have stabilized returns. Diversification may help you to maximize gains and minimize risks. For your retirement, it is important to work with a calculated approach.

Please note, the above content constitutes a very preliminary observation based on the industry and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.

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