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Fast-Rising High Dividend Stocks to Generate Income While the Market Slows Down

Melisa R. H. Posted On June 13, 2019
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Dividend stocks are companies that pay out a portion of their revenues to stakeholders. They make for a great income investment and if done right, can become an integral part of your revenue streams. For dividend investors, it is a good strategy to DRIP, where dividend payments are reinvested to purchase more shares in the company. This is a good strategy for the “set it and forget it” investment style.

Furthermore, in times of economic slowdown, dividend stocks are a boon in your portfolio. These companies will pay you to wait it out. Dividend stocks are seen as income generators combined with capital gains.

🛢 Basic Materials
Canadian Stocks

Methanex Corp (MX-T)
A methanol producer and distributor. Energy commodity prices have come down and general global economic growth is stalling. The dividend is considered safe by analysts and the stock has become cheaper. They are a global leader with operations across the globe. They pay a dividend of 3.3%

Methanex Corp (MX-T) — Stockchase
Methanex Corp (MX-T) — Stockchase

Opinion about MX-T: 8/10 on value. EPS down 32% YOY, revenue forecast to be down 5%. Moderate buy on the street, with significant upside target of 38%. Well below 50-day MA and below 200-day MA. Wait for a solid turnaround to see conviction that it's trending upward. Decent dividend yield.Reports July 30, hinting at potential…

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⚡ Energy
Canadian Stocks

Canadian Natural Rsrcs (CNQ-T)
A Canadian oil and gas exploration and production company. They are generating a lot of free cash flow and is managed well. They do not have a debt problem. CNQ also has an impressive history of 17 years of dividend growth. The dividend is at 4.19%

Canadian Natural Rsrcs (CNQ-T) — Stockchase
Canadian Natural Rsrcs (CNQ-T) — Stockchase

Opinion about CNQ-T: In a flat or questionable oil price environment, this former darling is being sold as a relative trade. Take advantage of that. Best operator in the business. Just inked first natural gas contract off an LNG project in the US. Own it long term and do well. Yield is 5.7%. (Analysts’ price…

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Suncor Energy Inc (SU-T)
An integrated energy company based in Canada. Suncor is considered a good way to dip your toe in the energy sector since they are so big and should do alright. They pay a dividend yield of 4%

Suncor Energy Inc (SU-T) — Stockchase
Suncor Energy Inc (SU-T) — Stockchase

Opinion about SU-T: A core Canadian energy name, along with CNQ. Still, energy space has been very tough. Prices have been low, OPEC producing more than expected. Regulatory environment in Canada is challenged, as is the macro global economy. 

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Enbridge (ENB-T)
An energy transportation company that is looking to complete Line 3 by 2020. This is considered a good income play but not a share appreciation name. The dividend is safe at 6.5%

Enbridge (ENB-T) — Stockchase
Enbridge (ENB-T) — Stockchase

Opinion about ENB-T: Technical analysts love to give fancy names to chart patterns 😉  The 5-year for this name is showing a cup and handle -- with that rounded bottom, perhaps a little pullback, and then a breakout and consolidation. Also a nice swing trade. Now testing the breakout point, and successfully so. Looks good.

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🏛 Financials
Canadian Stocks

Canadian Imperial Bank of Commerce (CM-T)
One of the Big Five banks in Canada. Some analysts consider this bank to be particularly under valued. They pay a dividend of 5.4%

Canadian Imperial Bank of Commerce (CM-T) — Stockchase
Canadian Imperial Bank of Commerce (CM-T) — Stockchase

Opinion about CM-T: Great performer. CEO retiring. Pretty good momentum. Likes the path they're on, brand has been revived. Question on Canadian consumer and credit, along with upcoming mortgage renewals. Cautious on all banks. Wait for a better entry point.

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Bank of Nova Scotia (BNS-T)
The third largest bank in Canada. They are one of the most global Canadian banks with operations particularly in Latin America. They have been the lagger of the Canadian banks and offer good value right now. The dividend yield is 5%.

Bank of Nova Scotia (BNS-T) — Stockchase
Bank of Nova Scotia (BNS-T) — Stockchase

Opinion about BNS-T: Really likes new management. Changes are finally being reflected in the price. Most diversified of the Big 6. Now has foothold in US market via KEY to promote further growth. International appeal. Capital ratio went up, which is great. More growth and appreciation ahead. Nice dividend yield.

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🛍 Consumer
Canadian Stocks

Magna Int’l. (A) (MG-T)
A global automotive supplier. They were hit hard due to reduced guidance, slow-down in Europe. They also made an acquisition that many think they paid too much for. They are investing in autonomous technology and may be planning to buy back shares.

Magna Int'l. (A) (MG-T) — Stockchase
Magna Int'l. (A) (MG-T) — Stockchase

Opinion about MG-T: Very hesitant. Recent recovery has been sharp and quick, almost as though it's factoring in abolition of tariffs completely. We need more clarity on tariffs. Auto industry is highly cyclical and depends on health of the economy, and we're seeing signs of weakening.If you own it, don't need the cash, and have…

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US Stocks

Colgate Palmolive (CL-N)
An American consumer products company. Analysts are pessimistic about this as they were negatively impacted by rising interest rates. Before, it was considered a bond proxy. However, in the long term it is considered a safe investment. The yield is 2.47%

Colgate Palmolive (CL-N) — Stockchase
Colgate Palmolive (CL-N) — Stockchase

Opinion about CL-N: It's been a rough year for staples. CL beat top and bottom line and their supply chain is improving, but they have potentially $200 million in costs from tariffs, but reduced to $75 million. He continues to like it.

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Genuine Parts Company (GPC-N)
A service organization for automotive parts and other replacement materials. They are the biggest auto parts manufacturer in North America. In slower economic times, people tend to repair cars more. They have a good history of increasing dividends annually. A dividend yield of 2.96%.

Genuine Parts Company (GPC-N) — Stockchase
Genuine Parts Company (GPC-N) — Stockchase

Opinion about GPC-N: Down 9.5% in May. The street expected more earnings growth. He sees 10% annual growth in the next 2 years. Cars are on the raod longer, so good luck getting a new car. Trades at a low 13x forward PE. Happy to own this.

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Hormel Foods Corp (HRL-N)
A well managed food company. They have been struggling with growing earnings and protein prices due to livestock epidemics. They raise dividends annually and it is currently at 2%.

Hormel Foods Corp (HRL-N) — Stockchase
Hormel Foods Corp (HRL-N) — Stockchase

Opinion about HRL-N: Had a recent weak quarter, but could benefit from the weight-loss drugs need users to consume more protein

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Coca-Cola Company (KO-N)
The famous beverage company that everyone knows. They are diversifying away from their main activity to include energy drinks and coffee. There is still a lot of room to grow. They pay a dividend of 3.44%.

Coca-Cola Company (KO-N) — Stockchase
Coca-Cola Company (KO-N) — Stockchase

Opinion about KO-N: Focused, has the branding. 24x forward PE for 5-6% earnings growth. Not on his radar for what he's looking for in terms of growth. Technically OK, with price above 200-day MA and that MA turning slowly higher. Yield is 2.8%.

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Lowes Companies Inc. (LOW-N)
A home improvement store. The company has profited from the DIY movement. They recently brought in new management as the company has underperformed. They pay a dividend of 1.99%.

Lowes Companies Inc. (LOW-N) — Stockchase
Lowes Companies Inc. (LOW-N) — Stockchase

Opinion about LOW-N: He wouldn't buy at this point, consumer is still very weak. He'd wait till consumer and housing are stronger. He prefers LOW to HD because of its cheaper valuation and execution of the (borrowed) HD playbook.

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Procter & Gamble (PG-N)
A multinational consumer goods company that was trading at a discount until a bump up recently. It is in a slow growth space and growth is expected to be around 10%. They pay a dividend of 2.7%.

Procter & Gamble (PG-N) — Stockchase
Procter & Gamble (PG-N) — Stockchase

Opinion about PG-N: Have suffered from a strong dollar when they return their overseas profits back home, but going forward will benefit from a weaker USD.

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🚚 Industrials
Canadian Stocks

Exco Technologies (XTC-T)
A Canadian multinational developer and manufacturer for automobiles and equipment. They have a good history of buying back shares and increasing dividends. A well run company with good capital allocations. They pay a dividend of 4.48%.

Exco Technologies (XTC-T) — Stockchase
Exco Technologies (XTC-T) — Stockchase

Opinion about XTC-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research For its fourth fiscal quarter, XTC matched EPS estimates of 20c. Revenue missed estimates of $160M coming in at $155.4M, declining 3% year-over-year. The company's outlook for next year calls for $750M in  revenue, $120M in EBITDA, and EPS of approximately $1.50.…

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Toromont Industries (TIH-T)
They surprised investors with a dividend increase of 21% in the last quarter. One of the biggest Caterpillar distributors in the world with focus in Ontario. They do well in tandem with construction and mining. They pay a dividend yield of 1.8%.

Toromont Industries (TIH-T) — Stockchase
Toromont Industries (TIH-T) — Stockchase

Opinion about TIH-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research EPS of $1.52 beat estimates of $1.49; revenue of $1.37B beat estimates of $1.35B. EBITDA of $248M beat estimates by 13%. Sales rose 1.2% but operating income did fall year over year. Tariffs are causing some customer uncertainty, but investors seem to…

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US Stocks

Emerson Electric (EMR-N)
An industry company that has pulled back due to concerns over the trade war and their exposure to oil. It is well managed. The dividend payout is 3.1%

Emerson Electric (EMR-N) — Stockchase
Emerson Electric (EMR-N) — Stockchase

Opinion about EMR-N: He sold after EMR launched a hostile takeover, but he missed out. His mistake.

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3M Co. (MMM-N)
An industrial company across many sectors including consumer, industrials and materials. They bought back stocks last year but added debt. They have significant international operations who’s profitability is hurt by a strengthening US dollar. Their dividend yield is 3.4%

3M Co. (MMM-N) — Stockchase
3M Co. (MMM-N) — Stockchase

Opinion about MMM-N: They report soon and he expects a good report, but nobody will care. Big internationals are frowned upon, unless you hold through the cycle.

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Parker Hannifin Corp (PH-N)
A specialist in motion and control technology. A good long term play as they have a good history of generating ROI for a long time. They are a key part of the industrial economy in a relative oligopolistic environment. They pay a 2.1% dividend.

Parker Hannifin Corp (PH-N) — Stockchase
Parker Hannifin Corp (PH-N) — Stockchase

Opinion about PH-N: (A Top Pick Dec 29/23, Up 38%) He sold it in the summer. He likes the aero-space part and is interested in other companies in this field.

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👨‍⚕️ Healthcare
US Stocks

Johnson & Johnson (JNJ-N)
A multinational medical, pharmaceutical and consumer goods company. They are currently facing a lawsuit over talcum powder. They have good demographic support and analysts expect dividends to continue to grow. They pay a dividend of 2.72%.

Johnson & Johnson (JNJ-N) — Stockchase
Johnson & Johnson (JNJ-N) — Stockchase

Opinion about JNJ-N: Underwhelming performance, but popped on earnings. Tough one. Spun out KVUE, which is in a nice space, but the stock's done nothing. JNJ is now more drugs and medical devices, and its stock's done nothing either. Drug companies are difficult to own, really have to do your homework. He doesn't want to recommend…

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💡 Utilities
Canada Stocks

Altagas Ltd (ALA-T)
An energy infrastructure company. A good place to keep your money for dividends and a quality utility name. They have settled down after their takeover although there may be other outcomes that are yet to be seen. They pay a 5% dividend.

Altagas Ltd (ALA-T) — Stockchase
Altagas Ltd (ALA-T) — Stockchase

Opinion about ALA-T: He owns the preferreds. Is down 2% this week perhaps from a large seller, but he sees no other cause. Is for dividend investors, though don't expect big growth over time. It has risen his year on the AI rally, that data centres need energy. 

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