globeadvisor.com: Mid-caps take dividend aristocrat crown

globeadvisor.com: Mid-caps take dividend aristocrat crown

Mid-caps take dividend aristocrat crown

Thursday, March 17, 2011

SCOTT ADAMS

sadams@globeandmail.com

What are we looking for?

Let's take a look at the S&P/TSX Canadian dividend aristocrats index and see which members have the highest yields.

More about today's screen

S&P has calculated that dividends have contributed almost one-third of the total equity return of the S&P/TSX composite index since 1956.

S&P defines a Canadian dividend aristocrat as a company or trust that has increased cash dividends or distributions annually for at least five consecutive years.

To be eligible, a security must be listed on the Toronto Stock Exchange and have a minimum market capitalization of $300-million. Members are generally added and deleted once a year in December.

The index is adjusted on a monthly basis so that no stock may be weighted greater than 8 per cent of the index and no trust more than 5 per cent. The Claymore S&P/TSX Canadian Dividend exchange traded fund is designed to track this index.

The index currently has 39 members. We'll sort the list today by highest yield.

What did we find?

A few years ago, this list was dominated by banks and insurance companies.

Without the big finance services members, it is a mixed bag of mostly mid-cap names across a broad selection of sectors, led by energy at 28 per cent, industrials 15 per cent, consumer discretionary stocks at 14.4 per cent and financials 13 per cent.

***

S&P/TSX CANADIAN DIVIDEND ARISTOCRATS INDEX

Company name	Symbol	$ Price March 15	52-week high $	52-week low $	Yield %	PE ratio	Price-to-book value per share	One-year price change %	YTD price change %	Index weighting %
Enbridge Incm Fund Hold.	ENF-T	18.68	20.74	12.51	6.2	53.4	1.3	49.6	5.4	5.53
North West Company	NWF-T	22.23	23.00	17.02	6.1	13.5	3.5	21.0	5.2	5.22
AGF Management	AGF.B-T	19.00	19.99	13.36	5.5	14.5	1.5	2.2	-4.3	5.03
Bird Construction Inc.	BDT-T	37.09	38.99	28.50	5.3	11.0	3.3	8.5	-2.3	5.28
Keyera Corp.	KEY-T	37.65	37.98	25.05	5.1	20.5	3.4	43.0	8.0	5.31
Shaw Communications	SJR.B-T	20.08	23.50	18.37	4.6	19.9	3.0	-2.5	-6.0	3.93
TELUS Corp.	T-T	47.15	49.98	35.44	4.5	15.6	1.9	32.2	3.8	4.38
Cdn. Real Estate Investment	REF.UN-T	32.03	33.93	25.00	4.4	20.1	2.5	14.3	3.2	4.20
TransCanada Corp.	TRP-T	38.10	39.30	30.01	4.4	21.5	1.7	2.3	-0.2	4.04
Rogers Communications	RCI.B-T	33.82	41.64	33.29	4.2	12.8	4.8	-4.5	-2.8	3.20
Fortis Inc.	FTS-T	32.13	35.45	21.60	3.6	19.6	1.7	11.9	-5.0	3.11
Corus Entertainment	CJR.B-T	21.41	23.78	18.26	3.5	17.5	1.8	10.2	-4.0	3.18
Enbridge Inc.	ENB-T	57.70	59.03	46.10	3.4	22.3	3.0	17.9	2.6	3.43
Canadian Utilities	CU-T	49.61	55.62	41.69	3.3	14.3	1.9	3.1	-8.3	2.63
Thomson Reuters	TRI-T	37.86	41.61	35.83	3.2	35.7	1.6	0.3	0.9	3.02
Intact Financial	IFC-T	47.63	51.73	40.51	3.1	13.1	1.7	13.5	-4.7	2.34
Transcontinental Inc.	TCL.A-T	15.24	17.25	11.44	2.9	7.4	1.0	16.0	-3.2	2.01
Shoppers Drug Mart	SC-T	39.42	44.90	32.57	2.5	14.5	2.1	-11.8	-0.1	2.31
CCL Industries	CCL.B-T	29.68	34.66	25.61	2.4	17.2	1.3	3.5	-2.4	1.83
Ensign Energy Services	ESI-T	16.06	17.74	11.38	2.4	24.0	1.6	10.0	7.8	2.90
Pason Systems	PSI-T	13.92	15.98	10.31	2.4	37.6	3.5	26.8	5.7	2.23
Toromont Industries	TIH-T	30.68	32.40	22.86	2.1	23.6	1.9	2.8	-0.9	1.85
ATCO Ltd.	ACO.X-T	57.16	62.59	46.02	2.0	11.3	1.5	9.5	-3.5	1.74
Canadian National Railway	CNR-T	70.86	72.79	56.80	1.8	15.7	2.9	20.4	6.8	1.57
Finning International	FTT-T	26.43	29.75	16.31	1.8	0.0	3.3	49.8	-1.7	1.86
Canadian Pacific Railway	CP-T	62.84	69.48	53.57	1.7	16.3	2.2	11.4	-2.9	1.49
Metro Inc.	MRU.A-T	45.29	47.47	40.57	1.7	12.4	1.9	6.3	0.5	1.37
Cogeco Cable	CCA-T	42.81	45.67	32.38	1.6	15.5	1.8	1.0	5.0	1.70
Tim Hortons	THI-T	43.22	44.50	32.30	1.6	12.0	5.1	27.8	4.9	1.20
Source: Globe Investor