adplus-dvertising
Connect with us

Investment

Passive Income: How Much Should You Invest to Earn $1000 Every Month? – The Motley Fool Canada

Published

 on


Investing in high-yielding dividend stocks can be a reliable means of earning a stable passive income. One has to invest around $180,000 in monthly-paying dividend stocks, which offer dividend yields of over 6.7%, to earn a monthly income of $1,000. Let’s look at three top monthly-paying dividend stocks that could help you earn $1,000 monthly.

COMPANY RECENT PRICE NUMBER OF SHARES INVESTMENT DIVIDEND MONTHLY DIVIDEND FREQUENCY
NWH $5.08 11811 60,0000 $0.03 $354.3 Monthly
WCP $10.47 5730 59,993 $0.0608 $348.4 Monthly
EXE $7.37 8141 59,999 $0.04 $325.6 Monthly
Total $1,028.4

NorthWest Healthcare Properties REIT

NorthWest Healthcare Properties REIT (TSX:NWH) owns and operates 219 defensive healthcare properties, with a total leasable area of 17.7 million square feet. The company was under pressure over the last few months due to concerns over rising interest rates and an increase in its leverage. However, the REIT has undertaken several initiatives, such as divesting $450 million of non-core assets. Besides, it has slashed its monthly dividend and amended, extended, and refinanced its debt facilities, strengthening its financial position.

Besides, NorthWest Healthcare reported impressive occupancy and rent collection rates of 97% and 99%, respectively, in the December-ending quarter. Its topline grew 4.1%, primarily due to rental lease indexation. However, the increase in interest expenses amid higher interest rates and adjustments to investment property fair values weighed on its bottom line, with its net losses increasing from $135.5 million to $188.9 million. However, the company’s initiatives could boost its profitability in the coming quarters.

Also, despite slashing dividends, its forward yield stands at a juicy 7.09%. Further, it trades at a cheaper price-to-book multiple of 0.6, making it an attractive buy.

Whitecap Resources

Oil prices have strengthened this year, with WTI (West Texas Intermediate) crude rising around 17% since the beginning of this year. The extension of voluntary production cuts by OPEC (Organization of the Petroleum Exporting Countries) and its allies has raised concerns of a supply deficit. Besides, the geopolitical tension in the Middle East has also supported oil prices. Meanwhile, few analysts predict more upsides to oil prices. Higher oil prices could benefit oil-producing companies, such as Whitecap Resources (TSX:WCP), which acquires and owns oil and natural gas-producing assets.

The Calgary-based company plans to make a capital investment of $900-$1,100 million this year, strengthening its asset base. Amid these investments, the company expects its 2024 average production to be between 165,000-170,000 barrels of oil equivalent per day, with the midpoint representing a 7% increase from the previous year. In the long run, WCP’s management expects its average production to reach 210,000 barrels of oil equivalent per day by 2028, representing annualized growth of 5%. Higher production and favourable oil prices could boost its financials, making its future dividend payouts safer.

Meanwhile, WCN currently pays a monthly dividend of $0.0608/share, with its forward yield at 6.97%. It also trades at an attractive NTM (next 12 months) price-to-earnings multiple of 6.5, making it an ideal buy.

Extendicare

Another top monthly-paying dividend stock would be Extendicare (TSX:EXE), which offers care and services to seniors across Canada. Last month, the company reported an impressive fourth-quarter performance, with its revenue growing by 12.8% amid improved occupancy, rate hikes, and increased funding. Besides, its adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) increased by 47.2% to $28.7 million amid topline growth and cost management efforts.

With the growing aging population, the demand for care and services could rise, thus expanding the addressable market for Extendicare. The Markham-based company began the construction of two new LTC (long-term care) homes in the Ottawa region, therefore increasing the number of LTC homes under construction to six. Besides, it expects to open three of these LTC homes this year. So, its growth prospects look healthy.

Meanwhile, Extendicare is currently paying a monthly dividend of $0.04/share, with its forward yield currently at 6.51%. Also, its NTM price-to-sales multiple stands at 0.5, making it an excellent buy.

Adblock test (Why?)

728x90x4

Source link

Continue Reading

Investment

Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk’s electric vehicle company

Published

 on

 

NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.

Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.

“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”

Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.

Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.

Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.

Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.

In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.

The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.

And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.

Tesla began selling the software, which is called “Full Self-Driving,” nine years ago. But there are doubts about its reliability.

The stock is now showing a 16.1% gain for the year after rising the past two days.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Investment

S&P/TSX composite up more than 100 points, U.S. stock markets mixed

Published

 on

 

TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

S&P/TSX up more than 200 points, U.S. markets also higher

Published

 on

 

TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending