Here we go with another round of the TSX60 ex-dividend date and dividend yield. Please note that YLO is not part of the index anymore with NO DIVIDEND whatsoever !
On the other side, we find now 24 great dividend stocks paying over a 3% dividend yield and 12 of them as a dividend payout ratio under 65%!
I don’t know about you, but this tells me that some dividend stocks from the TSX 60 are undervalued!
Finally, I would be worried to hold the first 2 positions (Enerplus & Penn West… 2 oil related companies with 300%+ dividend payout ratio!)
Enjoy the data!
I always wonder why the stats are so different between sites.
You have ERF @ 302.2
Dividendinvestor.ca has them @ 202
Globe and Mail has them @ 56.78
PWT @ 303.54
82% @ DivInv
38.1 @ Glo&Mail
It makes a difference whose stats you are looking at as to whether or not the stock is a “buy” or not.
@Richard,
Thanks for checking on this stock. I think one of the main things that is creating confusion here is that this stock recently changed its symbol (when it stopped trading as a trust unit). The company has been paying $0.18 per month in dividends for over 2 years now so I think it’s safe to assume that the yearly dividend would be:
$0.18 x 12 = $2.16
It’s earnings per share (EPS) will vary a bit depending on if you take the last year, future estimates, etc. But if we look at Google finance for example (http://www.google.com/finance?q=TSE:ERF&fstype=ii) you would get $1.84 while Bloomberg (http://www.bloomberg.com/apps/quote?ticker=ERF:CN) has $0.72.
Those are big differences of course! A big part of the difference comes from a one time $272 million gain on the sale of its Marcellus acreage position.
Personally, I would consider those earnings as “non-recurring” and would not use them when calculating a payout ratio (especially since they can’t go out and sell units every quarter), so I feel confident that the number from Bloomberg is much closer to reality:
$2.16/$0.72 = Payout ratio of 300% or so
Do you agree?
I look forward to this post every month! Great job.
Always great information, DGB :).
Personally, I’m stocking up on Sunlife (SLF). It seems to be quite a good yield with a strong payout ratio around ~50%.
I’m also avoiding oil at the moment – a little too volatile for me!
Like Shawn, I love these posts every month.
Great visual for investing purposes!
Great stuff.
Mark
Hey Dividend Guy,
I could be wrong, but shouldn’t COS’s payout ratio be significantly lower. If we take the current dividend policy into consideration at $0.30, I figured it should be closer to the 50% range. Just curious.
I love your posts, especially the Canadian take on stocks. I’m rather new to investing in the stock market but my core investments right now are in dividend payers. I’m a little confused about the payout ratios – how can any company pay out more than 100% and are they safe to invest in. Thanks