Canadian stocks have managed to bounce back in July after a choppy final week of June. Trade tensions remain a threat, but that doesn’t mean investors should remain on the sidelines this summer. Today we’ll look at four stocks to target that can provide income after the halfway point.
Logistec Corp. (TSX:LGT.B)
Logistec provides cargo handling and other services to marine, industrial, and municipal customers. Shares of Logistec were up 26% in 2018 as of close on July 4, and the stock was up over 60% year over year. The company released its first-quarter results on May 10.
Consolidated revenue rose 37.2% year-over-year to $82.4 million in the first quarter. The marine services segment posted revenue growth of 53.2%, while environmental services reported 2.1% growth. Logistec reported a consolidated loss attributable to shareholders of $9.5 million compared to $1.5 million in the prior year. Its acquisition of FER-PAL Construction Ltd. was a drag on earnings. Revenues for environmental services are also hindered during winter months.
The company announced a quarterly dividend of $0.09075 per Class B share, representing a modest 0.6% dividend yield.
Aecon Group Inc. (TSX:ARE)
Aecon Group is a Canadian infrastructure, energy, and mining company. Its shares were down over 20% in 2018 as of close on July 4. The stock took a hit after the federal government elected to torpedo its sale to China’s CCC International Holding Ltd. It did so on national security grounds, which echoes moves made south of the border aimed at scaling back Chinese investment in North America.
The scuttling of the deal should not steer investors away from Aecon, however. In the first quarter, the company reported a backlog of $4.6 billion compared to $4.2 billion as at December 31, 2017. It projects this backlog to reach record levels in the second quarter. The company also announced a quarterly dividend of $0.125 per share, representing a 3.2% dividend yield.
Fiera Capital Corp. (TSX:FSZ)
Fiera Capital is a Montreal-based asset management company. Its stock was down over 14% year-over-year as of close on July 4. Predictably, its stock price has been sensitive to market turmoil. Earlier this year, asset manager Candice Bangsund projected that the TSX would reach above the 17,000 mark by the end of 2018.
In the first quarter of 2018, Fiera posted an 8% increase in assets under management compared to the prior year – reaching $131.4 billion. Quarterly revenues rose 19%. The board of directors also declared a dividend of $0.19 per Class A share, thereby representing an attractive 6.3% dividend yield.
Brookfield Renewable Partners LP (TSX:BEP.UN)(NYSE:BEP)
Brookfield Renewable Partners was down 8% in 2018 as of close on July 4. In spite of this, the stock is still a no-brainer when we glance at the growth potential in the clean energy sector. This subsidiary is well positioned to take advantage of this trajectory going forward. The stock boasts a quarterly dividend of $0.49 per share, representing a 6.1% dividend yield.
