Common Shares
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Introduction
Common shares are a form of equity capital in Canadian companies. They are called 'common' to differentiate them from preferred shares. If both common shares and preferred shares exist, then common share owners cannot be paid dividends until all preferred share dividends are paid in full. A company can also have multiple classes of common shares, typically with different voting rights.
The Canadian stock market is significantly less diversified than the American stock market, and tends to be heavily focused in three sectors: financials; energy; and materials. This lack of diversification can lead to some difficulties in indexing, as the so-called 'broad indexes' may, on occasion, be relatively concentrated.
Some Canadians include individual stocks in their portfolios. Such stocks may be selected according to several different investment styles, depending upon the investor. The dividend income from such stocks is generally eligible for the dividend tax credit when the stocks are held in non-registered accounts. However, trusts and REITs may distribute only a minor part of their payments as dividends. In such cases, detailed breakdowns of distribution type are usually available on each company's website.
Note that REITs, gold, and commodities, are also considered elsewhere.
Dividend Cycles
Dividend cycles for many Canadian companies are shown below:[1] No quality criteria (other than paying a dividend) have been used for inclusion on these lists. Prospective investors are warned to perform their own due diligence before investing. The stock sector descriptions vary from source to source; those used are generally taken from the descriptions at iShares and are sometimes different from the sector descriptions used at the stock quotation source TMX.
The dividend cycles below are included for the convenience of investors, and are not meant as a recommendation[2].
Cycle 1: Dividends paid in January, April, July, and October
Company Stock Symbol Sector AGF Management Ltd. AGF.B Financials Agrium AGU Materials Bank of Nova Scotia BNS Financials BCE BCE Telecommunications Bombardier "B" BBD.b Industrials Cameco CCO Energy Canadian Natural Resources CNQ Energy Canadian Pacific CP Industrials Capital Power CPX Utilities CIBC CM Financials Empire EMP.a Consumer Staples George Weston WN Consumer Staples Gildan Activewear GIL Consumer Discretionary Husky Energy HSE Energy Iamgold IMG Materials IGM Financial IGM Financials Imperial Oil IMO Energy Manitoba Telecom MBT Telecommunications Nexen NXY Energy North West Company NWC Consumer Staples Penn West Petroleum PWT Energy Rogers Communications "B" RCI.B Telecommunications Shoppers Drug Mart SC Consumer Staples Stantec STN Industrials Stella Jones SJ Industrials Sun Life SLF Financials TD Bank TD Financials Teck Resources "B" TCK.b Materials Telus Voting T Telecommunications Telus Non-Voting T.A Telecommunications TransAlta TA Utilities TransCanada Corporation TRP Energy Valener Inc. VNR Energy Yamana Gold YRI Materials
Cycle 2: Dividends paid in February, May, August, and November
Company Stock Symbol Sector Bank of Montreal BMO Financials Brookfield Asset Management BAM.A Financials Canadian Oil Sands COS Energy Emera EMA Utilities Eldorado Gold Corporation ELD Materials Jean Coutu Group PJC.A Consumer Staples Laurentian Bank LB Financials National Bank NA Financials Metro MRU Consumer Staples Potash Corp POT Materials Power Financial PWF Financials Royal Bank RY Financials
Cycle 3: Dividends paid in March, June, September, and December
Company Stock Symbol Sector Agnico-Eagle Mines AEM Materials Alimentation Couche-Tard ATD.B Consumer Staples ARC Resources ARX Energy Atco Ltd. ACO.X Utilities Barrick Gold ABX Materials Bell Aliant BA Telecommunications Calian Technologies CTY Information Technology Canadian Utilities CU Utilities Canadian National Railways CNR Industrials Canadian Tire Corp CTC.a Consumer Discretionary Cenovus CVE Energy Corby Distilleries CDL.A Consumer Discretionary Davis & Henderson DH Financials Enbridge ENB Energy Encana ECA Energy Enerplus ERF Energy Fortis FTS Utilities Goldcorp G Materials Great West Lifeco GWO Financials Industrial Alliance IAG Financials Inmet Mining IMN Materials Kinross Gold K Materials Loblaw Companies L Consumer Staples Manulife MFC Financials Power Corp. POW Financials Pulse Seismic Data PSD Materials Saputo SAP Consumer Staples Silver Wheaton SLW Materials SNC-Lavalin Group SNC Industrials Suncor Energy SU Energy Talisman Energy TLM Energy Thomson Reuters TRI Consumer Discretionary Tim Hortons THI Consumer Discretionary
Monthly Dividends
Company Stock Symbol Sector Ag Growth AFN Industrials Boardwalk REIT BEI.UN Financials Boyd Group BYD.UN Industry Canadian Helicopters CHL.A Industry Carfinco CFN.UN Financial CML Healthcare CLC Healthcare Corus Entertainment CJR.B Consumer Discretionary H&R REIT HR.UN Financials Inter Pipeline Fund IPL.UN Energy Just Energy JE Utilities NAL Energy NAE Energy Pembina Pipeline PPL Energy RioCan REIT REI.UN Financials Shaw Communications "B" SJR.B Consumer Discretionary Veresen VSN Energy
References
- ↑ "Shakespeare", Dividend Cycles for Canadian Companies, copied with permission of the author, revised to Wiki format, updated and expanded.
- ↑ Neither inclusion on this list nor exclusion from it is to be interpreted as a recommendation to buy or not to buy a particular stock. The information on this page is in no way guaranteed, and the authors takes no responsibility for keying errors. Consult the prospectus or annual report before making any stock purchase.
