BMO chief investment strategist Brian Belski reported that the stocks from his dividend growth screen were the only group he tracks that outperformed the S&P/TSX Composite in August. The screening process for the outperforming dividend growth list is, “we screen the S&P/TSX each January, April, July, and October based on the following parameters: Dividend yield greater than 0, Free cash flow yield greater than dividend yield; and Dividend payout ratio less than the S&P/TSX Composite”
The “outperform”-rated stocks on the dividend growth list are Alimentation Couche-Tard, Boardwalk REIT, Boyd Group Services, CCL industries, Colliers international Group, Canadian Pacific Kansas City Ltd., Constellation Software, Cenovus Energy, Dollarama, BRP Inc., Enerplus Corp., First Quantum Minerals, IA Financial Corp., Imperial Oil, Linamar Corp., Methanex Corp., Nutrien Ltd., Pason Systems, Parex Resources, Secure Energy Services, Stantec inc., Tricon Residential Inc., Waste Connections Inc., Whitecap Resources, West Fraser Timber Co. and Sleep Country Canada Holdings.