The early stock market dip may have prompted some investors to shift their strategies in 2018. One such strategy is to take profits from a substantial late 2017 rally that saw a surge in a number of sectors — most notably, in Canada’s burgeoning cannabis market and in financials. For those that are looking to load up on income-generating stocks right now, below are some stocks you may want to consider.
Brookfield Infrastructure Partners L.P. (TSX:BIP.UN)(NYSE:BIP)
Brookfield owns and operates utilities, transport, and other businesses around the world. Shares of Brookfield have declined 8.7% in 2018 as of close on February 13. The company released its 2017 fourth-quarter and full-year results on February 9.
Brookfield reported higher net income in all of its business segments compared to 2016, but it ultimately saw a dip in performance due to non-cash movements on foreign currency hedges. Funds from operations in utilities grew to $172 million from $97 million and to $139 million from $115 million in transport. The company declared a dividend of $0.47 per share, representing a 4.6% dividend yield.
Genworth MI Canada Inc. (TSX:MIC)
Genworth is an Oakville-based private residential mortgage insurer — the largest in Canada. Its stock has dropped 5% in 2018 thus far. The company released its fourth-quarter and full-year results for 2017 on February 6.
Premiums earned rose 6% from 2016 to $676 million in the past year. Net income jumped 27% to $528 million. Genworth announced a quarterly dividend of $0.47 per share, representing a 4.5% dividend yield.
Cineplex Inc. (TSX:CGX)
Cineplex is a media company that operates theatres across Canada. The stock has started very poorly in 2018 — down 11.1% thus far. Cineplex was my top stock for January, the reasoning for which I reflected on in a recent article. The company is set to release its fourth-quarter and full-year results for 2017 on February 22.
The fall 2017 movie slate picked up the slack for what was a very disappointing year for the cinema. The past year saw the lowest overall attendance since 1993, but revenues remain high on the back of higher movie ticket prices and concessions. Cineplex still boasts a dividend of $0.14 per share with a 5% dividend yield, and could be an attractive buy-low candidate.
Altagas Ltd. (TSX:ALA)
Altagas is a Calgary-based energy infrastructure business. Altagas stock has dropped 9.3% in 2018 so far. In its 2017 third quarter report, Altagas saw normalized EBITDA rise 8% to $190 million. The company last announced a very attractive dividend of $0.18 per share, representing an 8.4% dividend yield.
Corus Entertainment Inc. (TSX:CJR.B)
Like Cineplex, Corus is another old media stock that has suffered to start the year. Shares have plunged 31.4% in 2018. In its 2018 fiscal first-quarter results, Corus saw its consolidated revenues drop 2% and its consolidated segment profit decline 7%. However, Corus offers a very strong dividend of $0.09 per share, representing a 14% dividend yield.
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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.
Fool contributor Ambrose O'Callaghan has no position in any of the stocks mentioned. Altagas and Brookfield Infrastructure Partners are recommendations of Stock Advisor Canada.