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CIBC sees US$160 billion piling back into Canadian dividend stocks

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Investors are starting to plow funds into Toronto’s out-of-favor dividend-paying stocks after more than two years of antipathy, according to Canadian Imperial Bank of Commerce. It’s a trend that promises to grow as short-term interest rates in the country continue to be scaled back.

Don Nesbitt, senior portfolio manager at ZCM, joins BNN Bloomberg to share his top picks in large caps.

“A rotation back into high-yielding equities such as utilities, REITs and communications is just beginning,” Ian de Verteuil, an analyst at the bank, wrote in a research note Sunday. If rates continue to fall, his team expects Canadian investors to pour $220 billion of funds into dividend-paying stocks as they shift away from fixed income-linked products.

As Canadian rates peaked the net effect was that $200 billion of funds poured into fixed-income alternatives that traditionally would have bought high yielding equities.

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