The S&P/TSX Composite Index moved up 113 points on August 13. Global indices have battled volatility in August and yield curve inversions all over the developed world have left economists scrambling.
This period will be unnerving for investors who are gearing up for retirement. Fortunately, there are still some positives to glean so far this month, as a plethora of companies have released earnings.
Today I want to look at two companies that posted results over the past week. Both of their respective stocks are worth consideration for investors on the hunt for income right now.
These equities can provide consistent payouts that can ease the pain of volatility, especially in a retirement account.
Ag Growth
Ag Growth (TSX:AFN) is a Winnipeg-based company involved in the planning, engineering, and manufacturing of solutions and systems in the agriculture sector. Shares of Ag Growth have dropped 18.5% over the past three months as of close on August 13.
Headwinds in the broader sector have turned off investors, with the United States suffering from one of the toughest growing seasons in recent history.
The company released its second quarter 2019 results on August 8. Trade sales hit record levels for Q2 2019 and in the first half of the year.
Recent acquisitions in France and India contributed to this uptick, as did continued strong demand for portable farm equipment in the United States. Ag Growth expects weather and trade friction to produce headwinds in the final quarters of 2019.
Shares of Ag Growth had a price-to-earnings ratio of 18 as of close on August 13. The stock had an RSI of 13 at the time of writing, putting shares deep into technically oversold territory.
Keep in mind that Ag Growth still offers a monthly dividend of $0.2 per share, which represents a 5.6% yield. Ag Growth may be a sneaky pick up after its post-earnings dip.
Calian Group
Calian Group (TSX:CGY) is an Ottawa-based consulting firm that operates through its Business and Technology Services Division and Systems Engineering Division.
Shares have climbed 17% in 2019 as of close on August 13. The stock has been a steady hold over the past decade, averaging annual returns of 10.5% over the past 10 years.
The company released its third-quarter 2019 results on August 7. It posted its fourth consecutive quarter of record revenue at $88.8 million.
Net profit grew to $4.3 million or $0.54 per basic share compared to $3.9 million or $0.50 per basic share in the prior year.
Calian’s IntraGrain acquisition provided a big boost in the quarter. The company also closed its acquisition of SatService, a German satellite ground systems business.
Shares of Calian had a P/E ratio of 17 as of close on August 13. On August 7, Calian declared a quarterly dividend of $0.28 per share, representing a 3.3% yield. It boasts a footprint in the thriving defence sector, and both of its divisions posted impressive growth in Q2 2019.
