National Bank shakes up its Dividend All-Stars portfoli The following eight securities were added to the portfolio.
The potential total returns indicated below were published in this report and may have changed due to stock price moves over the past few days.
IGM Financial Inc. (IGM-T). Analyst Jaeme Gloyn sees three key attributes justifying his ‘outperform’ recommendation: 1) industry leader, 2) high dividend yield of 5 per cent, and 3) robust earnings growth. His adjusted earnings per share estimates are $3.93 for 2021, up from $3.20 reported in 2020, and $4.40 in 2022. Given his outlook for solid earnings growth, he believes the company has the financial flexibility to hike its dividend by approximately 5 to 10 per cent.
Mr. Gloyn has a target price of $58, implying a potential total return of 35 per cent.