Performance Review
Below is the performance of the Canadian Dividend Watch List from July 2013:
| symbol | name | 2013 | 2015 | % chg |
| D-UN.TO | Dundee REIT | 31.77 | 24.7 | -22.25% |
| REI-UN.TO | Riocan Real Estate Investment Trust | 25.11 | 27.06 | 7.77% |
| CUF-UN.TO | Cominar REIT | 20.83 | 17.97 | -13.73% |
| CAR-UN.TO | Canadian Apartment Properties REIT | 22.31 | 28.45 | 27.52% |
| CWT-UN.TO | Calloway REIT | 26.09 | 30.17 | 15.64% |
| AX-UN.TO | Artis Real Estate Investment Trust | 15.1 | 13.68 | -9.40% |
| IFC.TO | Intact Financial Corporation | 57.53 | 90.17 | 56.74% |
| FCR.TO | First Capital Realty Inc. | 17.79 | 18.29 | 2.81% |
| FTS.TO | Fortis Inc. | 32.34 | 36.99 | 14.38% |
| BEI-UN.TO | Boardwalk Real Estate Investment Trust | 60.3 | 59.78 | -0.86% |
| EMA.TO | Emera Inc. | 33.75 | 42.55 | 26.07% |
| LB.TO | Laurentian Bank of Canada | 45.05 | 48 | 6.55% |
| TRP.TO | TransCanada Corp. | 46.77 | 49.34 | 5.49% |
| FTT.TO | Finning International Inc. | 22.68 | 21.9 | -3.44% |
| NA.TO | National Bank Canadian Equity SP | 36.14 | 45.51 | 25.93% |
| CM.TO | Canadian Imperial Bank of Commerce | 77.15 | 91.18 | 18.19% |
The average return for the entire watch list was +9.84% compared to the Toronto Stock Exchange Composite index change of +13.33% in the period from July 19, 2013 to July 22, 2015. At the time, we said the following of the watch list:
“We recommend careful examination of the listed companies in the REIT arena as they have less upside potential than is ideal.”
Since July 2013, the REIT related companies on the watch list generated a return of +0.94% while companies not in the REIT sector gained an average of +18.94%.
July 2015 Canadian Dividend Watch List
Below is the Canadian stocks of interest:
| SYMBOL | NAME | PRICE | P/E | EPS | DIV/SHARE | YIELD | PRICE/BOOK | % FROM YR LOW |
| HCG.TO | Home Capital Grp | 31.18 | 6.96 | 4.48 | 0.88 | 2.82% | 1.51 | 0.39% |
| TRP.TO | TransCanada Corp. | 49.34 | 20.30 | 2.43 | 2.08 | 4.22% | 2.1 | 0.41% |
| CNQ.TO | Canadian Natl Resources | 31.06 | 11.17 | 2.78 | 0.92 | 2.96% | 1.22 | 0.45% |
| CPG.TO | Crescent Pt. Energy | 21 | 21.00 | 1 | 2.76 | 13.14% | 0.98 | 0.77% |
| IGM.TO | IGM Financial Inc. | 39.18 | 13.02 | 3.01 | 2.25 | 5.74% | 2.1 | 0.95% |
| PJC-A.TO | The Jean Coutu Grp | 19.73 | 17.31 | 1.14 | 0.44 | 2.23% | 3.48 | 1.02% |
| CWB.TO | Canadian Western Bank | 24.82 | 9.03 | 2.75 | 0.88 | 3.55% | 1.24 | 1.60% |
| TA.TO | TransAlta Corp. | 9.15 | 25.42 | 0.36 | 0.72 | 7.87% | 1.03 | 1.67% |
| SU | Suncor Energy Inc. | 25.73 | 55.93 | 0.46 | 1.12 | 4.35% | 1.17 | 1.90% |
| ACO-X.TO | ATCO LTD. | 39.34 | 11.67 | 3.37 | 0.99 | 2.52% | 8 | 2.02% |
| SJR-B.TO | Shaw Comms., Inc. | 26.99 | 16.16 | 1.67 | 1.18 | 4.37% | 2.62 | 2.04% |
| CJR-B.TO | Corus Ent. Inc. | 14.36 | -28.72 | -0.5 | 1.02 | 7.10% | 1.03 | 2.13% |
| REF-UN.TO | Canadian REIT | 43.15 | 22.36 | 1.93 | 1.8 | 4.17% | 0.97 | 2.74% |
| VET.TO | Vermilion Energy | 44.56 | 28.94 | 1.54 | 2.58 | 5.79% | 2.47 | 2.79% |
| AX-UN.TO | Artis REIT | 13.68 | 13.54 | 1.01 | 1.08 | 7.89% | 0.78 | 2.86% |
| CUF-UN.TO | Cominar REIT | 17.97 | 12.31 | 1.46 | 1.47 | 8.18% | 0.84 | 2.92% |
| NA.TO | Natl Bank of Canada | 45.51 | 10.23 | 4.45 | 2.08 | 4.57% | 1.69 | 3.08% |
| MDI.TO | Major Drilling Grp | 4.93 | -7.95 | -0.62 | 0.04 | 0.81% | 0.86 | 3.14% |
| CM.TO | CIBC | 91.18 | 10.38 | 8.78 | 4.36 | 4.78% | 2.06 | 3.57% |
| CCO.TO | Cameco Corporation | 17.34 | 157.64 | 0.11 | 0.4 | 2.31% | 1.24 | 3.65% |
| SYMBOL | NAME | PRICE | P/E | EPS | DIV/SHARE | YIELD | PRICE/BOOK | % FROM YR LOW |
| BNS.TO | Bank of Nova Scotia | 63.02 | 11.02 | 5.72 | 2.72 | 4.32% | 1.64 | 3.74% |
| SAP.TO | Saputo Inc. | 29.86 | 19.52 | 1.53 | 0.52 | 1.74% | 3.27 | 3.75% |
| D-UN.TO | Dream Office REIT | 24.7 | 15.73 | 1.57 | 2.24 | 9.07% | 0.71 | 3.78% |
| IMO.TO | Imperial Oil Ltd. | 45.84 | 11.94 | 3.84 | 0.52 | 1.13% | 1.71 | 3.99% |
| LB.TO | Laurentian Bank | 48 | 9.92 | 4.84 | 2.24 | 4.67% | 1 | 4.23% |
| GS.TO | Gluskin Sheff Assoc. | 24.14 | 10.63 | 2.27 | 0.9 | 3.73% | 5.88 | 4.41% |
| CU.TO | Canadian Utilities | 36.24 | 15.55 | 2.33 | 1.18 | 3.26% | 2.18 | 4.53% |
| CP.TO | Canadian Pac Railway | 205.1 | 22.87 | 8.97 | 1.4 | 0.68% | 5.9 | 4.81% |
| TD.TO | Toronto Dominion Bank | 52.31 | 12.79 | 4.09 | 2.04 | 3.90% | 1.69 | 5.32% |
| FCR.TO | First Capital Realty | 18.29 | 19.25 | 0.95 | 0.86 | 4.70% | 1.15 | 5.78% |
| IAG.TO | Ind. Alliance Ins. and Fin. Srvces | 40.96 | 9.82 | 4.17 | 1.12 | 2.73% | 1.15 | 6.22% |
| RY.TO | Royal Bank of Canada | 76.48 | 11.78 | 6.49 | 3.08 | 4.03% | 2.13 | 6.61% |
| FTT.TO | Finning Intl. | 21.9 | 12.44 | 1.76 | 0.73 | 3.33% | 1.68 | 6.73% |
| PPL.TO | Pembina Pipeline | 38.66 | 40.27 | 0.96 | 1.83 | 4.73% | 2.41 | 6.91% |
| BEI-UN.TO | Boardwalk REIT | 59.78 | 15.77 | 3.79 | 2.04 | 3.41% | 0.92 | 7.17% |
| TCL-A.TO | Transcontinental | 14.26 | 6.48 | 2.2 | 0.68 | 4.77% | 1.26 | 7.38% |
| RCI-B.TO | Rogers Comms. | 43.83 | 17.67 | 2.48 | 1.92 | 4.38% | 4.19 | 7.64% |
| REI-UN.TO | Riocan REIT | 27.06 | 14.87 | 1.82 | 1.41 | 5.21% | 1.13 | 7.77% |
| CTY.TO | Calian Technologies | 18.79 | 13.62 | 1.38 | 1.12 | 5.96% | 1.99 | 8.42% |
| ET.TO | Evertz Technologies | 16.25 | 18.68 | 0.87 | 0.72 | 4.43% | 3.43 | 9.65% |
Analyst Estimates
Below is a snapshot of the analysts’ low estimated earnings assuming the same price-to-earnings ratio that the stocks currently have and the percentage change in price that is implied based on these low earnings estimates. For the stocks that currently don’t have earnings (or an exceptionally high ratio), a P/E ratio of 14 was assigned.
We’d start our investment research with the companies that are slated to generate negative returns and eliminate those that do not meet basic fundamental and technical investment criteria.