Kalkine Media explores TSX dividend stocks to watch this quarter

Highlights

• Tourmaline acquired Rising Star Resources Ltd in August.
• The adjusted EBITDA for Slate Grocery REIT increased to US$ 29.14 million.
• Before investing, analyzing the company’s growth strategy along with sustainability can be helpful in the long run.

Dividend stocks specialize in their regular dividend payouts by the company. But due to fluctuations in the external environment, the dividend can be cut to preserve cash.

Rising interest rates, tightening monetary policies, and high inflation are some external factors that may affect the wallets of Canadians. On a brighter note, stock valuations have also gone down, making them available at a lower price.

Before investing, analyzing the company’s growth strategy along with sustainability can be helpful in the long run. Along with this, paving the way for a retirement income stream can be one of the considerations for an investor. The right selection of stocks plays a crucial role in boosting your portfolio.

Let’s look at five dividend stocks and analyze their performances in recent quarters:

Tourmaline Oil Corp . (TSX: TSX:TOU) Tourmaline Oil Corp. is an energy company based in Canada. It develops, explores, and acquires crude oil and natural gas.

On August 10, 2022, Tourmaline Oil Corp. announced the completion of its acquisition of Rising Star Resources Ltd.

As on October 12, 2022, the stock price of Tourmaline Oil Corp. was at C$ 76.55.

In Q2 2022, Tourmaline’s cash flow was reported at C$ 1.35 billion, an increase of 137 per cent compared to the corresponding quarter in 2021.

The company’s net earnings in the 2022 second quarter were reported at C$ 822.9 million. Further, the company announced a dividend (quarterly) of C$ 0.225. The three-year dividend growth was noted at 58.38 per cent.

The EPS (earnings per share) for Tourmaline Oil Corp. is C$ 7.49 with a P/E (price-to-earnings) ratio of 10.2.

Slate Grocery REIT (TSX: SGR.UN) Slate Grocery REIT is an unincorporated, open-ended mutual fund trust. The company mainly focuses on leasing, owning, and acquiring a diversified portfolio of revenue-producing commercial real estate properties. Further, the company also focuses on grocery-anchored retail properties.

Slate Grocery REIT completed the acquisition of 14 properties on July 15, 2022. The acquisition was for US$ 425 million.

For the second quarter of fiscal 2022, Slate Grocery reported rental revenue of C$ 39.5 million compared to C$ 33.4 million in the year-ago period.

As on June 30, 2022, the adjusted EBITDA increased to US$ 29.141 million.

BCE Inc. (TSX: TSX:BCE) BCE Inc. is an internet service provider that also offers wireless services. It offers landline phone services, broadband, and wireless services in Canada.

The company is a national wireless carrier and has a total employee strength of 49,781.

In Q2 2022, the consolidated adjusted EBITDA of BCE Inc. grew by 4.6 per cent and was noted at C$ 2,590 million.

In Q2 0222, its adjusted net earnings increased by 5.3 per cent and were reported at C$ 791 million compared to C$ 751 million in Q2 2021.

Further, the free cash flow increased to C$ 1,333 million, up 7.1 per cent from C$ 1,245 million in the year-ago quarter.

Imperial Oil Limited (TSX: TSX:IMO) Imperial Oil Limited is an integrated oil company focusing on upstream operations, marketing of petroleum products, and refining operations.

In Q2 2022, Imperial Oil’s net income was reported at C$ 2,409 million compared to C$ 366 million in Q2 2021. The cash flows from operating activities were reported at C$ 2,682 million compared to C$ 852 million in the same period.

The company paid C$ 2.7 billion to its shareholders in Q2 2022. Further, the company's oil production averaged 413,000 barrels per day, reportedly the highest second quarter in the duration of 30 years.

Furthermore, Imperial Oil Limited entered a strategic collaboration with E3 Lithium.

The below graph shows the change in stock price for Imperial Oil Limited within 12 months.

Element Fleet Management Corp. (TSX: TSX:EFN) Element Fleet Management Corp. is a part of Element Financial, a global fleet management company engaged in providing financing and management services for equipment fleets and commercial vehicles.

In Q2 2022, Element Fleet Management reported net revenue of C$ 288.1 million, which grew by 22.4 per cent compared to Q2 2021 and 10.5 per cent from the previous quarter.

The quarterly dividend by the company was C$ 0.077, with three-year dividend growth of 15.1. The earnings per share (EPS) was 0.86 with P/E ratio of 19.40.

Bottom Line: For an investor, it can be easy to get swayed by the current market trends. But it is crucial to go against the odds and make your portfolio risk-proof. For this, check with the diversification strategy. This way, all your eggs are not in one basket, and you can spread out the risk involved.

In the case of dividend stocks, check with the dividend paid by the company, as it can be an important measure of your stock selection. Lastly, you can tackle the rising inflation and interest rates with the right attitude and understanding of the market.

Please note, the above content constitutes a very preliminary observation based on the industry and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.

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