Power Producers Extend Canada Loss Streak as Bond Yields Pop
Bloomberg 2/25/2021 Michael Bellusci
(Bloomberg) Some of 2020’s top performing stocks in Canada have lost some luster as bond yields grind higher and recent power woes in Texas add to the drag.
Canada’s utility stocks have fallen for 13 straight sessions, their longest losing streak on record. Rising yields on bonds reduce the attractiveness of utilities as a safe-haven for dividend-oriented investors.
The “dramatic” spike in bond yields has been the primary culprit for the sector’s weakness, said Chris Kerlow, a Toronto-based portfolio manager at Richardson Wealth Ltd. The firm remains positive on Algonquin Power & Utilities Corp. because of its power and renewable exposure.
Power Producers Extend Canada Loss Streak as Bond Yields Pop
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Andrew Marsh to step down as CEO of Richardson Wealth
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HAW Capital 2 Corp.: HAW Capital Closes Initial Public Offering
HAW Capital 2 Corp. (TSXV: HAW.P)
(the
TSXV ), is pleased to announce that today it completed its initial public offering (the
Offering ) of 4,000,000 common shares (
Common
Shares ) issued at a price of $0.10 per share pursuant to a prospectus dated November 12, 2020 (the
Prospectus ).
Richardson Wealth Ltd. (the
Agent ) acted as agent for the Offering and in connection therewith, the Company granted the Agent 400,000 non-transferable options entitling the Agent to acquire 400,000 Common Shares at a price of $0.10 per share until January 8, 2023. The Agent also received a cash commission equal to 10% of the gross proceeds of the Offering as well as a corporate finance fee.