Statistics Canada released real GDP numbers for October 2017 that were flat compared to 0.2% growth reported in September. Let’s look at four dividend stocks to target after this report.
Equitable Group Inc. (TSX:EQB)
Activity at the offices of real estate agents and brokers was up 2.1% in October as home sales bounced back in Ontario and British Columbia. Equitable Group stock rose 2.49% on December 27 and is up 28% over a three-month span. In a recent article, I’d argued that Equitable Group and other alternative lenders were worthy holds, even though forecasters are projecting turbulence for the real estate market to begin 2018.
In the third quarter, Equitable Group posted net income that was 7% higher from the prior year, and the deposit principal was $10.5 billion — up 14% year over year. The company declared a dividend of $0.25 per share, representing a 1.4% dividend yield.
Canadian REIT (TSX:REF.UN)
Canadian REIT has dropped 1% in 2017. Canadian REIT owns and operates a large portfolio of retail, industrial, and office properties. Real estate and rental and leasing was up 0.3% broadly in October. According to CBRE Group Inc., Canadian commercial property investment is on track to break last year’s record numbers. Canada is fast becoming one of the most attractive commercial real estate locations in the world.
Canadian REIT released its third-quarter results on November 2. The company reported funds from operations of $0.84 per unit compared to $0.79 in the previous year. It posted net income of $43.5 million compared to $18.8 million in Q3 2016. On December 14 Canadian REIT announced a dividend of $0.16 per share, representing a 4% dividend yield.
Russel Metals Inc. (TSX:RUS)
Russel Metals closed the December 27 trading day up 1.65%. Russel Metals distributes steel products in metals service sectors, energy products, and steel distribution. In October, wholesalers of machinery, equipment, and supplies rose 3.4%. Russel Metals released its third-quarter results on November 8.
In late November, I’d discussed why Russel Metals was a great long-term hold due to its capital growth potential and its monster dividend. Russel Metals also posted big gains in the third quarter, as revenue jumped to $851 million from $639 million in the prior year. Net income also rose to $34 million from $16 million in Q3 2016.
The stock offers a quarterly dividend of $0.38 per share, representing a 5.2% dividend yield.
Teck Resources Ltd. (TSX:TECK.B)(NYSE:TECK)
Teck Resources is a Vancouver-based metals and mining company. Metal ore mining rose 0.1% in October. Teck Resources stock has climbed 31.6% in 2017 and 59% over a six-month span. The company released its third-quarter results on October 26.
Profit jumped to $600 million or $1.04 per share compared to $234 million, or $0.41 per share, in the prior year. Teck Resources beat its own estimates on the sale of 7.54 million tonnes of steel-making coal in the quarter. The stock offers a modest dividend of $0.04 per share, representing a 0.6% dividend yield.
