OPTIMISM #15 - September 23, 2020Hello friends and clients,
Markets look really ugly today, but upon closer examination the pain is focussed on energy, marijuana and Shopify stocks.
Damage is generally minimal in our not so boring dividend payers and others such as CN Rail and Canadian Tire are up nicely.
If you own Fortis shares, which I am sure you do, you got a pay raise today for your hard work.
The dividend will be permanently increased by 5.8% per year.
Also, the CEO has announced that he is comfortable with 6% annual increases until 2025. That equates to a pay increase for us of about 33.8% over five years.
It gets better. When the dividend is increased, the share price tends to increase at an equal amount, so the shares should increase at about the same pace.
Saputo Foods also increased their dividend 2.8%.
We expect more dividend growth this fall.
Focus on the rising income stream. Time will take care of the rest. Have a great week.
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