BMO chief investment strategist Brian Belski reiterated his belief that dividend growth is the correct strategy for income-oriented investors,
“The shortcomings of singularly yield-focused strategies have never been more obvious than what has unfolded so far in 2023, with high yield sectors and dividend yield factors all significantly underperforming the TSX year to date.
The companies in the BMO’s North American Dividend Growth portfolio are BCE Inc., Comcast Corp., Telus Corp., Verizon Communications, McDonalds Corp., Restaurant Brands International, PepsiCo, Procter and Gamble, Target Corp., Enbridge Inc., TC Energy Corp., Ameriprise Financial, Bank of America, Brookfield Corp., Blackrock Inc., Goldman Sachs Group, JP Morgan Chase, Manulife Financial, Morgan Stanley, National Bank of Canada, Power Corp of Canada, Royal Bank of Canada, TD Bank, Amgen Inc.
“Many Americans were shocked when they found out just how dependent we had become on foreign producers for what are considered ‘necessary’ goods … ‘Home-shoring’ production in Some cases will cost more and eat into profit margins, but we have been surprised at how quickly reshoring is developing, assisted heavily by technology that offsets much of the labor-cost disadvantage. In addition, many companies are shifting production to countries either perceived to be more friendly toward the U. S.
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