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CEOs are investing millions in these large-cap dividend stocks

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Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships, including accounts they have control or direction over.

The list features insider transaction activity; it does not convey total ownership information as an insider may hold numerous accounts.

Keep in mind, when looking at transaction activities by insiders, purchasing activity may reflect perceived value in a security. Selling activity may or may not be related to a stock’s valuation; perhaps an insider needs to raise money for personal reasons. An insider’s total holdings should be considered because a sale may, in context, be insignificant if this person has a large remaining position in the company. I tend to put great weight on insider transaction activity when I see multiple insiders trading a company’s shares or units.

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Listed below are three stocks that have had recent buying activity reported by insiders.

Canadian Pacific Railway Limited (CP-T)

Between March 13 and March 16, president and chief executive officer Keith Creel invested over US$3-million in shares of CP. He bought a total of 14,588 shares at an average cost per share of US$206.12, initiating a position in this particular account.

On March 10, Scott MacDonald, senior vice-president – engineering, mechanical and procurement, acquired 1,000 shares at a price per share of $288.85, after which this account held 2,730 shares. The cost of the investment exceeded $288,000.

First Capital Real Estate Investment Trust (FCR-UN-T)

Between March 17 and March 19, trustee Dori Segal invested over $338,000 in units of this REIT. He acquired a total of 24,500 units at an average price per unit of approximately $13.80, raising this account’s position to 1,147,452 units.

National Bank of Canada (NA-T)

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Between March 9-19, president and chief executive officer Louis Vachon bought a total of 30,000 shares at an average price per share of roughly $49.60, increasing this account’s holdings to 275,826 shares. The cost of these purchases exceeded $1.4-million.

Between March 13-18, Denis Girouard, co-head of financial markets, bought a total of 20,000 shares at an average price per share of roughly $46.56, initiating a position in this particular account. The cost of these purchases totaled over $930,000.

Between March 11-17, Laurent Ferreira, co-head – financial markets, invested over $2.1-million in shares of National Bank. He acquired a total of 44,000 shares at an average cost per share of approximately $49.94, boosting this account’s position to 46,400 shares.

Between March 11-16, director Pierre Thabet invested roughly $4.9-million in shares of the company. He bought a total of 100,000 shares for an account in which he has indirect ownership (Gestion Thap Inc.) at an average price per share of approximately $48.95, which lifted this account’s position to 310,077 shares.

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Listed below is a security that has had selling activity reported by an insider.

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Aurora Cannabis Inc. (ACB-T)

Between March 11 and March 16, founder, director, senior strategic adviser to the board, and the company’s former chief executive officer Terry Booth sold a total of 12,161,900 shares at an average price per share of approximately $1.13 for an account in which he has indirect ownership (Lola Ventures Inc.), taking this account’s holdings down to 2,548,878 shares. Proceeds from the sales, not including trading fees, exceeded $13-million.

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Oil crash 'not permanent,' Mexico sticks to output, investment plans – Financial Post

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MEXICO CITY — Mexico will press ahead with oil investment and production plans, its energy minister told Reuters on Friday, arguing that a global crash in crude and fuel markets will be short lived and does not merit a change in strategy.

In the coming days, the government will offer investment opportunities in more of its mature oilfields and network of refineries owned by national energy company Petroleos Mexicanos (Pemex), Energy Minister Rocio Nahle said in an interview.

“Today we’re in one of these phases where the price of oil is low, but this will not be permanent. Oil is a great business, the best in the world,” said Nahle.

“We’re going to wait, just like the rest of the world.”

The administration of leftist President Andres Manuel Lopez Obrador is not considering reopening the auctions for exploration and production rights to oil and gas fields, she added, which are favored by many foreign companies.

A close confidant of Lopez Obrador, an energy nationalist who favors a stronger state role in energy, Nahle emphasized that the government was not planning to cut crude production from state-run Pemex, even at its most expensive oilfields, amid global benchmarks losing more than half their value last month.

“All producing countries are maintaining output levels… Pemex is also doing that,” said Nahle, who also heads the Pemex board.

She also said there were no plans to suspend expensive infrastructure projects including the new $8 billion Dos Bocas oil refinery currently under construction and a top priority for Lopez Obrador, who has repeatedly said he wants to wean Mexico off of imported fuels.

Heavily indebted Pemex, which is teetering on the edge of a fresh downgrade by credit rating agencies, has suffered 15 consecutive years of falling crude output despite relatively low lifting costs in its mostly offshore portfolio of projects. Its current crude production is more than 1.7 million barrels per day.

Nahle emphasized that Pemex will decide which fields it would like private investment, but said those details will likely be unveiled at the weekend or next week.

Mexico’s national electricity company CFE will follow a similar tack, she added.

Producers of crude oil and refined products all around the world have already announced production cuts in reaction to lower demand due to the economic slowdown provoked by the coronavirus pandemic, in addition to growing difficulty finding space for storage.

In Latin America, the largest regional producer, Brazil’s state-controlled Petrobras, this week said it will widen production cuts to 200,000 barrels per day (bpd) from the 100,000 bpd in cuts originally planned, while shortening work hours and delaying investment in oil projects.

In Venezuela, state-run PDVSA has already seen its crude production to fall to around 670,000 bpd in recent weeks – a 25% decline vs previous months – mainly due to mounting inventories of unsold oil as U.S. sanctions on the firm and its trade partners tighten and demand for its crude in Asia plummets.

Latin America’s flagship crude grades lost over $7 dollars per barrel in average this week versus their mid-March prices, according to a Reuters analysis of data provided by traders.

Mexico’s Maya heavy crude, the most important regional benchmark, average $11.10 per barrel so far this week vs $17.34 in mid-March, according to data provided by S&P Global Platts.

Despite the prospect of a prolonged price slump, Nahle sounded an optimistic note.

“A lot of (investment opportunities) are coming, and those who are interested, those who are in this business and those who know will enter,” she said. (Reporting by David Alire Garcia; Additional reporting by Adriana Barrera and Marianna Parraga; Editing by Marguerita Choy)

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Credit Suisse sets up investment banking sustainability advisory – Financial Post

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ZURICH — Credit Suisse has set up a new investment banking advisory group to counsel clients on the issue of sustainability, the bank told staff on Friday.

Tom Greenberg, who currently co-heads the investment bank’s oil and gas group, will lead the Environmental, Social and Governance (ESG) advisory group, according to an internal memo seen by Reuters and confirmed by a spokeswoman.

“The group is tasked with capturing future investment banking opportunities and share of wallet, either through the identification of new high-growth clients that are solving global ESG challenges, or in advising existing clients on sustainable growth and finance opportunities,” David Miller, Credit Suisse’s head of Investment Banking and Capital Markets, said in the memo to staff.

As co-head of oil and gas, Greenberg has advised many of the bank’s largest energy clients on their strategic approach to the upcoming sustainable energy transition, Miller said.

Greenberg will also maintain his current oil and gas role, the memo said.

Angelica Nikolaussan, who the bank hired from Greentech Capital, an investment banking firm focused on supporting clients across sustainable technology and infrastructure, and recently acquired by Nomura, will join the ESG advisory group. (Reporting by Brenna Hughes Neghaiwi; editing by David Evans)

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Ontario makes $25-million emergency investment in post-secondary education – The Kingston Whig-Standard

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The Ontario government announced Tuesday a major investment of $25 million in emergency funding to help post-secondary students succeed in their studies as the province continues to tackle the COVID-19 pandemic.

“This is a great investment in our students and everything we’re doing to help them complete their studies,” Glenn Vollebregt, president and CEO of St. Lawrence College, said in a news release.

“Our staff and faculty have had great success delivering programs in an alternative format during this difficult time. This emergency funding will help ensure the resources are in place to support continued success.”

The announcement was made by Colleges and Universities Minister Ross Romano and the funding will go to colleges, universities and Indigenous institutes.

The funding addresses a range of fiscal pressures, including support for students stranded in a community, the purchase of cleaning and medical supplies, costs for physical and mental health resources, and the added expense of transitioning to remote learning.

With all in-person classes at Ontario colleges being cancelled on March 13 to protect the health and safety of students and staff, the colleges have implemented alternative measures to deliver programs, such as online learning and testing.

At St. Lawrence College, students have the opportunity to complete the winter semester through alternative delivery, which includes online learning, digital simulations and collaborating using conference and digital platforms.

The spring/summer semester will also be delivered through these alternative methods.

“We thank the government and Minister Romano for their commitment to our students. This emergency funding will make a difference,” Vollebregt said.

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