|Bid||93.12 x 0|
|Ask||93.08 x 0|
|Day's Range||91.24 - 93.16|
|52 Week Range||72.00 - 109.68|
|Beta (5Y Monthly)||0.72|
|PE Ratio (TTM)||11.92|
|Earnings Date||Aug. 26, 2020|
|Forward Dividend & Yield||4.32 (4.73%)|
|Ex-Dividend Date||Jul. 24, 2020|
|1y Target Est||98.25|
Here's a proven strategy to help Canadian investors retire wealthy.The post Retire Rich: 5 Top Canadian Stocks to Own for 25 Years appeared first on The Motley Fool Canada.
The one-time OAS and GIS boost in 2020 is very timely, given the financial challenges Canadian seniors are facing due to COVID-19. However, those investing in the Royal Bank stock will receive a permanent supplement to the government pension.The post Emergency $500 OAS and GIS Boost: Can You Get it? appeared first on The Motley Fool Canada.
Bank of Nova Scotia and Canadian Imperial Bank of Commerce said they plan to fill at least 3.5% of their top roles with Black employees as part of an initiative that aims to fight racism and improve the representation of Black people in boardrooms. The initiative, labeled "BlackNorth," was launched by Wes Hall, a prominent Canadian businessman and the chairman of proxy advisory firm Kingsdale Advisors. It urged executives to fill at least 3.5% of senior executive and board positions in Canada with Black leaders by 2025.
TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:Toronto Stock Exchange (15,713.82, up 145.18 points.)Baytex Energy Corp. (TSX:BTE). Energy. Up three cents, or 4.48 per cent, to 70 cents on 8.8 million shares. The Bank of Nova Scotia (TSX:BNS). Financials. Up $1.41, or 2.6 per cent, to $55.54 on 8.3 million shares.Enbridge Inc. (TSX:ENB). Energy. Down five cents, or 0.12 per cent, to $40.15 on 8.2 million shares.The Toronto-Dominion Bank (TSX:TD). Financials. Up $1.18, or 2.01 per cent, to $59.92 on 7.2 million shares.Algonquin Power & Utilities. (TSX:AQN). Utilities. Up 56 cents, or 3.28 per cent, to $17.62 on 6.3 million shares.Royal Bank of Canada (TSX:RY). Financials. Up $1.81, or 1.98 per cent, to $93.08 on 6 million shares.Companies in the news:Canadian Natural Resources Ltd. (TSX:CNQ). Up 89 cents or four per cent to $22.91. Shell Canada says the Quest carbon capture and storage project north of Edmonton has reached the milestone of five million tonnes of stored carbon dioxide, equivalent to the annual emissions of about 1.25 million cars. It says the accomplishment was achieved ahead of schedule and has been attained at a lower cost than expected. Quest opened in 2015 and cost about $1.35 billion, backed with $745 million from the Alberta government and $120 million from Ottawa. Majority ownership of the project was sold to Calgary-based Canadian Natural Resources Ltd. in 2017, along with most of Shell's Alberta oilsands assets, but Shell retained a 10 per cent interest and is still the operator. It says the cost to operate Quest is about 35 per cent lower than what was forecast in 2015 and, if Quest were to be built today, it would cost about 30 per cent less. Quest captures about one third of the CO2 emissions from the Shell-operated Scotford oilsands upgrader and transports it via a 65-kilometre pipeline to be stored more than two kilometres underground in a sandstone rock reservoir.Barrick Gold Corp. (TSX:ABX). Down 68 cents or 1.8 per cent to $36.82. Owners of the Porgera gold mine in Papua New Guinea say they are going to the World Bank’s International Centre for Settlement of Investment Disputes to try to resolve a battle with the federal government that resulted in closing of the mine. Barrick Niugini Ltd., the joint venture mine operator that is owned 47.5 per cent each by Canada's Barrick Gold Corp. and partner Zijin Mining Group of China, suspended production in April and placed the mine on care and maintenance status. Last month, it announced it would lay off 2,650 local mine workers by the end of July, making permanent temporary layoffs enacted when the government said it would not extend its special mining lease. In a news release, Barrick Niugini says the government's decision to reject its lease extension application has resulted in financial damage to the company and in significant job losses and damage to the local, provincial and national economies of Papua New Guinea.Second Cup Ltd. (TSX:SCU). Up eight cents or 11.1 per cent to 80 cents. Second Cup Ltd.'s parent company has opened its first recreational cannabis dispensary. Mississauga, Ont.-based Aegis Brands says it welcomed guests to a Hemisphere Cannabis Co. midtown Toronto. The location was previously home to a Second Cup and will be joined by six more dispensaries Aegis has planned to open in Toronto, Orleans, Ont. and Ottawa in the coming months. Second Cup said in 2018 that it has more than 130 locations across Ontario that it plans to leverage to enter the cannabis space. Second Cup has undergone a series of restructurings in recent years to try to increase its profits in the competitive Canadian coffee industry and hopes cannabis will help it regain market share.MTY Food Group Inc. (TSX:MTY). Down three cents at $28.81. MTY Food Group Inc. reported a second-quarter loss of $99.1 million as the company took a $120.3-million non-cash impairment charge related to property, plant and equipment, intangible assets and goodwill due to the pandemic. The restaurant company behind such brands as Thai Express, Tiki-Ming, Tutti Frutti and Valentine says the loss amounted to $4.01 per diluted share for the quarter ended May 31 compared with a profit of $19.3 million or 76 cents per share a year earlier. Revenue fell to $97.8 million compared with $125.6 million in the same quarter last year. MTY franchises and operates fast food and casual restaurants under more than 80 different banners in Canada, the United States and elsewhere. It says 2,757 of its locations were temporarily closed at the peak of the COVID-19 pandemic, but they are now reopening gradually.This report by The Canadian Press was first published July 10, 2020.The Canadian Press
It's an exciting time for millennials to start investing, but it can quickly go south. Keep these tips in mind before taking any large stakes.The post Millennials: Top Tips for Bear Market Investing appeared first on The Motley Fool Canada.
Here's how retirees can increase pension income without paying more taxes or being hit with CRA clawbacks on OAS pension payments.The post Retirees: How to Use Dividend Stocks to Boost Pension Income and Avoid OAS Clawbacks appeared first on The Motley Fool Canada.
TORONTO , July 8, 2020 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced that Cynthia Devine will be appointed to its board of directors, effective August 1, 2020 . Ms. Devine will join the Audit and the Governance Committees.
Royal Bank of Canada (TSX:RY)(NYSE:RY) and the Canadian banks face a tough uphill battle in the second half of 2020, but should you still buy?The post Are Canadian Banks Must-Buys Right Now? appeared first on The Motley Fool Canada.
Millennials have three recessions behind us, but there is one thing we do have: time. So what should we do with it?The post Millennials: You Really Do Have It the Worst appeared first on The Motley Fool Canada.
(Bloomberg) -- Crude futures in New York were unable to rise above $41 as rising U.S. coronavirus cases continue to threaten the nation’s fuel-demand recovery.Depressed demand during the usually active summer driving season is contributing to growing stockpiles. The U.S. recovery has lagged Europe with American gasoline consumption falling by almost 420,000 barrels a day last week, according to RBC Capital markets.“There should never be a storage build in gasoline in summer time, especially during driving season around the 4th of July,” said Bob Yawger, director of the futures division at Mizuho Securities USA. “But that’s what we’re looking at.”Gasoline supplies expanded by 550,000 barrels last week, according to a Bloomberg survey, contrasting with an industry-funded American Petroleum Institute report showing a 1.83 million-barrel drop in fuel supplies.The Bloomberg survey showed an expected 3.25 million-barrel decline in crude inventories, while the API reported an increase of 2.05 million barrels.WTI volatility hit its lowest level in four months, a stark contrast from the wild fluctuations seen in prices earlier this year. An uptick in virus cases in the main fuel-consuming states in America’s south has led local officials to reimpose stricter measures such as shutting indoor dining and closing gyms.“All of the problems oil has had since March are derivatives of the health issues surrounding the coronavirus,” said Bart Melek, global head of commodity strategy at TD Securities. “There’s nothing policy makers can do on the economic side.”Nationwide gasoline stockpiles are already sitting above 250 million barrels. Meanwhile, supplies of distillates, a category that includes diesel, increased by 473,000 barrels, according to the Bloomberg survey. Official government data is due Wednesday.“The rate at which we are unwinding inventory builds from 1Q and 2Q may be a lot slower, leaving the market in a precarious position in terms of pricing,” Melek said.While consumption has been stronger in China, which is further ahead in its re-opening, independent refiners in Shandong may cut crude runs in July and August from a record high in May due to narrowing margins, according to industry consultant Facts Global Energy.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Canada Revenue Agency (CRA) has sent out an extra $300 to parents last month. Investing it in stocks such as Royal Bank (TSX:RY)(NYSE:RY) may be a great idea. The post CRA Update: How to Get an Extra $300 Tax Break appeared first on The Motley Fool Canada.
RBC Global Asset Management Inc. announces June sales results for RBC Funds, PH&N Funds and BlueBay Funds
TORONTO — Royal Bank of Canada is looking to diversify its workforce with a number of changes aimed at building a more inclusive employment pipeline.The Toronto-based bank unveiled on Monday a least a dozen measures, which include upping staffing targets for executives identifying as Black, Indigenous or people of colour to 30 per cent from 20 per cent.RBC will also make anti-racism and anti-bias training mandatory for all employees, offer at least $100 million in small business loans to Black entrepreneurs over the next five years and make diversity and inclusion objectives part of performance management goals for its leaders.Chief executive Dave McKay said the plan came from the bank's ongoing conversations around systemic racism and "listening" sessions with employees that are Black, Indigenous or people of colour."To hear their stories...about what they experience day to day in their lives, how they talk to their families and their children about living in our society and the workplace, it's quite shocking. You have to address it when you hear it so clearly," McKay said in an interview."We came to the realization that we really didn't understand what was going on. We didn't understand the systemic racism."The bank has long been striving to better reflect Canada's racial and gender makeup, but McKay said he knew there was more to be done after protests erupted across North America after the recent death of George Floyd, a Black man in Minneapolis.In 2019, 1.3 per cent of RBC's employees based in Canada identified as Indigenous, while 37 per cent were minorities — defined by the bank as people who are non-Indigenous and non-Caucasian in race or non-white in colour.Minorities made up 19 per cent of the bank's executives and 39 per cent of those in middle management or more senior jobs.RBC wants improve those results and is promising to include 40 per cent Black, Indigenous or youths of colour in its internship programs.The bank will also allocate $50 million to programs focusing on skills development and mentoring for 25,000 youth from underrepresented groups.Measures aimed at youth are important to McKay, who grew up in a lower-income family and got his own start at RBC from a school co-op program."I didn't have any connections, but I went to a school that allowed me to access that role and I think we've got to make that more accessible for the Black community," he said.The changes revealed Monday come on top of a statement from the bank last month reiterating its commitment to diversity and inclusion and announcing donations to organizations doing anti-racism work. Canada's other major financial institutions have made similar moves.To ensure the goals are met, RBC will expand its annual reporting to include more transparency around pay equity and ethnic and racial gaps.It will measure annual internship and new hire goals for Black and Indigenous talent in Canada, the U.S. and the U.K. beginning in 2021.Tracking such data is important because many experts say "what gets measured, gets done" and few Canadian companies make such numbers public.Last year, The Canadian Press asked all firms included in the TSX 60 index as of Jan 1. 2019 to share data on how many women and employees who identify as visible minorities, as defined in the Employment Equity Act, worked at their companies in 2017.Nearly 60 per cent, or 35 companies, did not provide or publicly release the representation of visible minorities in their ranks and more than 23 per cent, or 14 companies, said they were not tracking the metric at all.McKay said Monday that he was intentionally bold and public with his strategy to promote diversity at RBC — Canada's most valuable TSX-listed company — because he believes the bank has a responsibility to inspire other businesses."Just setting the bar as Canada's leading company is important," he said. "It's important first and foremost, for all internal success metrics and making the change needed in our company, but it's also important to set an example for the community."He promises the changes he announced won't be forgotten in days or months."This is not a one-time announcement. This is a part of an evolution," he said. "We're going to continue to listen and we're going to continue to learn and we will adjust if we're missing the mark."This report by The Canadian Press was first published July 6, 2020.Companies in this story: (TSX:RY)Tara Deschamps, The Canadian Press
TORONTO , July 6, 2020 /CNW/ - At RBC, we acknowledge wide-spread systemic racism has disproportionately disadvantaged Black, Indigenous and People of Colour (BIPOC) for far too long, significantly impeding the ability of those communities to compete equally in opportunities for economic and social advancement. Diversity and Inclusion has been a cornerstone of our Values for years. Today we're taking direct actions to tackle issues of inequity and systemic bias.
With stocks down across the board this year, long-term investors can lock in solid yields. These banks are perfect additions to any dividend investing plan.The post Dividend Investing: 2 Bank Stocks to Buy appeared first on The Motley Fool Canada.
Royal Bank of Canada (TSX:RY)(NYSE:RY) is a blue-chip dividend darling that looks like one of the best Canadian banks for your buck.The post Buy Royal Bank of Canada (TSX:RY) Shares Today or You'll Kick Yourself Later appeared first on The Motley Fool Canada.
It is always prudent to have a passive-income stream with which you don’t need to depend on the Canada Revenue Agency. The post Canada Revenue Agency’s Critical Benefits for Individuals During the Pandemic appeared first on The Motley Fool Canada.
Another dip could be coming, that makes now the best time to juggle your portfolio to create a safe haven with top stocks. Even with just $1,000.The post Investing $1,000 in These 3 Top TSX Stocks Would Be Genius Right Now appeared first on The Motley Fool Canada.
Even though stocks remain unsettled, long-term TFSA investing is still very attractive. Find out which three TSX giants are worth a good look.The post TFSA Investing: Invest $6,000 for the Long Run appeared first on The Motley Fool Canada.
This group of high-yield dividend stocks, including Royal Bank of Canada (TSX:RY)(NYSE:RY), can help give your portfolio a much-needed raise.The post Got $10K to Invest? Create a "Dream Income Stream" With These 3 High-Yield Stocks appeared first on The Motley Fool Canada.
Wells Fargo (NYSE:WFC) is about to cut its dividend. Royal Bank of Canada (TSX:RY)(NYSE:RY) provides a safer dividend. What's more to like is that the stock is cheap.The post Wells Fargo to Cut Dividend: Buy Royal Bank (TSX:RY) Stock Instead appeared first on The Motley Fool Canada.
Canada's biggest lenders confirmed on Friday they had joined a widespread boycott of Facebook Inc begun by U.S. civil rights groups seeking to pressure the world's largest social media platform to take concrete steps to block hate speech. More than 400 brands have pulled advertising on Facebook in response to the "Stop Hate for Profit" campaign, begun after the death of George Floyd, a Black man who died in police custody in Minneapolis on May 25. Canadian lenders Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, National Bank of Canada and Canadian Imperial Bank of Commerce all said they will pause advertising on Facebook platforms in July.
Our economy is in rough shape. Central bank action saved markets and rescued real estate, but will the effect last? If real estate crashes, will the Canadian banks like Royal Bank of Canada (TSX:RY)(NYSE:RY) survive?The post Will a Real Estate Crash Kill Canadian Banks? appeared first on The Motley Fool Canada.
(Bloomberg) -- The U.K.’s bonds are just a few basis points away from yielding less than Japan’s, known for their ultra-low rates.The spread between the nations’ five-year bonds has shrunk to about six basis points this week, a record based on closing data. The gaps between the countries’ two- and 30-year bonds aren’t far off.That comes as investors seeking havens pile into the U.K’s debt, driving down rates to record lows. Meanwhile, shorter-dated Japanese bonds have been backstopped by the central bank, keeping yields steady. The Bank of Japan on Wednesday raised its bond-purchase amounts for three-to-five year maturities at a regular operation.The fading spreads are the latest signs that European debt markets may be undergoing “Japanification,” a world of low yields, tepid inflation and little volatility. Some bond traders are speculating that the Bank of England could also follow its Japanese equivalent in trying to limit borrowing costs via so called yield-curve control.British Bond Traders Might Find BOE Wants to Take Back Control“It’s a function of ever lower U.K. yields as JGB yields are basically stable -- that’s what yield-curve control does for you,” said Peter Schaffrik, global strategist at RBC Europe Limited. “Unless the U.K. economy does better and markets can reverse their view about BOE policy going forward, it will be hard to see a reversal.”Trading hours for both nations’ debt only coincide for an hour between 8 a.m. and 9 a.m. London time.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
We've been warned another market crash is coming, but there are some signs it's already here. So here's what you should do about it.The post Have We Entered the Next Market Crash? appeared first on The Motley Fool Canada.