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Inside the Market’s roundup of some of today’s key analyst actions
Seeing the benefits of “lumber’s unrelenting climb,”
CanWel Building Materials Group Ltd.’s (CWX-T) preliminary first-quarter financial results were “remarkably strong,” according to Canccord Genuity analyst Yuri Lynk.
After hiking his projections for the Vancouver-based company, he raised his rating for its shares to “buy” from “hold.”
CPP Pensioners: 2 Reasons to Delay Your Payout Till Age 70 Image source: Getty Images
The Canada Pension Plan, or CPP, is a monthly taxable benefit that aims to replace a part of your income during retirement. The typical age for Canadians to start receiving CPP payouts is 65. However, you can start receiving the pension as early as age 60 or delay it till you reach the age of 70.
Let’s take a look at why it makes sense to delay your CPP payout.
Higher CPP payout
There is a strong incentive for pensioners to delay their pension payouts. You will benefit from an 8.4% increase in payouts for each year you delay the CPP. This means your CPP payment will increase by 42% if you wait till the age of 70 to start the pension.
Image source: Getty Images
Your portfolio is incomplete without few dividend stocks. Along with paying frequent payouts, dividend stocks provide stability to your portfolio. These stocks are less volatile compared to non-dividend-paying stocks. Further, investors would also benefit from rising stock prices. So, given the advantages, here are four dividend stocks that you can buy below $30.
Algonquin Power & Utilities
Algonquin Power & Utilities (TSX:AQN)(NYSE:AQN) is involved in the low-risk energy utility business and operates renewable power-producing facilities. Meanwhile, the company sells a significant percentage of its power through long-term agreements, providing stability to its earnings and cash flows. These stable cash flows have allowed the company to increase its dividends by above 10% for 10 consecutive years. Currently, the company pays quarterly dividends of $0.1959 per share, with its forward dividend yields standing at 3.8%.
Image source: Getty Images
Despite the volatility in the last few days, the Canadian equity markets have continued their uptrend, with the
S&P/TSX Composite Index rising 3.6% this month. Amid investors’ optimism, here are four Canadian stocks that can outperform the broader equity markets over the next three years.
Suncor Energy
The cooldown of oil prices amid the fears of a third-wave of COVID-19 cases globally have dragged
Suncor Energy’s (TSX:SU)(NYSE:SU) stock price down by around 10% from its recent highs. Despite the near-term weakness, the company’s outlook looks healthy, given the expectation of oil demand recovery amid improvement in economic activities and economic expansion. With its integrated business model and long-life, low-decline assets, the company is well positioned to take advantage of higher oil prices.