Canadian Dividend Reinvestment Plans (DRIPs): February 2009
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Tuesday, February 24, 2009

2009 Mergent's Dividend Achievers list

I last wrote about the Mergent's Dividend Achievers list in January 2008. However, since then Mergent's has changed their hyperlink to the list. As such, I have included the proper link in this post and on the Blog Roll below.

Every year Mergents compiles a list of companies, royalty income trusts and REITs from Canada that have increased their dividends for five consecutive years or more. The 2009 Canadian version now has 71 constituents, up from the 46 I reported last year. This increase was not an easy feat given the troubling economic times we now find ourselves in.

Stalwarts like The Bank of Nova Scotia (TSX:BNS), The Bank of Montreal (TSX:BMO), Fortis Incorporated (TSX:FTS) and TransCanada Corporation (TSX:TRP) are consistently on the list. However, several income trust funds that also have dividend reinvestment plans (DRIPs) find themselves on the list including Canadian Real Estate Investment Trust (TSX:REF.UN), Cominar Real Estate Investment Trust (TSX:CUF.UN) and Keyera Facilities Income Fund (TSX:KEY.UN)

Mergent's have also published another index called the Canadian High Yield Dividend Growth 30 Portfolio. To be included, companies must trade on a major stock exchange like the TSX, have five or more years of equal or increasing regular annual dividend payments, a minimum average daily cash volume of $3,000,000 USD and a current dividend yield of 1%. The 30 companies with the largest market cap as of the last trading day in December are chosen for inclusion.

This index could be useful for an investor who wants to invest their money in large cap firms only. The indexes are by no means identical as companies like George Weston Limited (TSX:WN) and Loblaws Ltd (TSX:L) exist in the latter list and not the former.

Finally, while most companies in the indexes have DRPs, not all do. This is why it is a good idea to compare the index's list of constituents to the List of Canadian DRIPs and SPPs on this site to see which companies offer a DRIP.

Monday, February 16, 2009

List of Canadian DRIPs Updated

Well, it has been almost one year since my last major list update. I want to start out by apologizing for the delay. I have had good intentions of revising my dividend reinvestment (DRIP) list for several months now but something has always seemed to crop up. Recently, I have received a couple of inquiries as to whether I was ever going to update my list (thanks for taking the time to write!). It was then I realized that I needed to spend some time working on this.

So, I have compiled the following list of changes:

I have added the following new plans:
Canadian Oil Sands Trust (TSX:COS.UN) – DRIP reinstated
Corus Entertainment (TSX:CJR.B)
EnCana Corporation (TSX:ECA)
First National Financial LP (TSX:FN.UN)

I have deleted the following plans:
Boardwalk REIT (TSX:BEI.UN) - suspended
Brompton Equal Weight Income Fund (TSX:EWI.UN) – merged into Brompton VIP Income Fund (TSX:VIP.UN)
Brompton Stable Income Fund (TSX:BSR.UN) – merged into Brompton VIP Income Fund (TSX:VIP.UN)
Business Trust Equal Weight Income Fund (TSX:BWI.UN) – merged into Brompton VIP Income Fund (TSX:VIP.UN)
Builders Energy Services Trust (TSX:BET.UN) - merged into Essential Energy Services Trust (TSX:ESN.UN)
Crown Hill Dividend Fund (TSX:PBK.UN) – merged into Crown Hill Fund (TSX:MYT.UN)
Fairway Diversified Income and Growth Trust (TSX:FDT.UN) – merged into Crown Hill Fund (TSX:MYT.UN)
Flaherty & Crumrine Investment Grade Preferred Fund (TSX:FAC.UN) – merged into Flaherty & Crumrine Investment Grade Fixed Income Fund (TSX:FFI.UN)
Fording Canadian Coal Trust (TSX:FDG.UN) - bought out by Teck Cominco (TSE:TCK.A)
Foremost Income Fund (TSX:FMO.UN) - suspended
Newalta Income Fund (TSX:NAL.UN) - converted to corporation
Paramount Energy Trust (TSX:PMT.UN) - suspended
Sixty Plus Income Trust (TSX:SIX.UN) - trust terminated
Strategic Energy Fund (TSX:SEF.UN) - converted to an open-end mutual fund called Sentry Select Energy Income Fund
Superior Plus Income Fund (TSX:SPF.UN) - suspended
Trinidad Energy Services Income Trust (TSX:TDG.UN) - suspended
Vermillion Energy Trust (TSX:VET.UN) - suspended

I have updated the following plans:
Bank of Montreal (TSX:BMO) – 2% discount added
Bank of Nova Scotia (TSX:BNS) – 2% discount added
Fortis Inc. (TSX:FTS) – maximum increased to $30,000; 2% discount added
NAL Oil & Gas Trust (TSX:NAE.UN) changed (DRIP suspended; SPP active)
Thomson Corporation – updated name and stock symbol to Thomson Reuters Corporation (TSX:TRI)
Toronto-Dominion Bank (TSX:TD) – 1% discount added
TransCanada Corporation (TSX:TRP) - discount increased to 3% in December

As well, I have verified that all of the company hyperlinks are working. They will again point the user to each company's DRIP information page.

While working on the blog I also had many ideas on how to improve it. So, I have created a list of additional items I wish to include and I will also be making constant improvements to the site over the next few weeks.

As always, if you see any discrepancies please post a comment.

Happing DRIPping,

List of Canadian DRIPs & SPPs



DRIP? SPP? Discount? Minimum Maximum
Aberdeen Asia-Pacific Income Investment Company Limited FAP Y Y N $100/Month $20,000/Year
ACTIVEnergy Income Fund AEU.UN Y Y 5% $100 -
AGF Management Limited AGF.B Y N N N/A N/A
Agnico Eagle Mines Limited AEM Y Y 5% US$100 US$20,000/Year
Allied Properties REIT AP.UN Y N 5% N/A N/A
AltaGas Ltd. ALA Y Y 5% $1,000 $100,000/Month
ARC Resources Ltd. ARX Y Y 5% $500 $3,000/Month
Artis REIT AX.UN Y Y 4% $1,000 $10,000
Bank of Montreal BMO Y Y N - $40,000/Year
Bank of Montreal Exchange-Traded Funds (ETFs) - Y N N N/A N/A
Bank of Nova Scotia BNS Y Y 2% $100/Month $20,000/Year
Baytex Energy Corp. BTE Y N 5% N/A N/A
BCE Inc. BCE Y Y N - $20,000/Year
Bell Aliant Inc. BA Y Y N - $3,400/Month
Brompton Oil & Gas Income Fund OGF.UN Y Y 5% - -
Brompton VIP Income Fund VIP.UN Y Y 5% - $20,000/Year
Brookfield Asset Management Inc. BAM.A Y N N N/A N/A
Brookfield Office Properties Canada BOX.UN Y N N N/A N/A
Brookfield Properties Corp. BPO Y N N N/A N/A
Calloway REIT CWT.UN Y N 3% N/A N/A
Canadian Apartment Properties REIT CAR.UN Y N 5% N/A N/A
Canadian General Investments, Limited CGI Y Y N $100/Quarter $5,000/Quarter
Canadian REIT REF.UN Y Y 4% $250/Month $25,000/Year
Canadian Tire Corporation CTC Y N N N/A N/A
Canadian Western Bank CWB Y N N N/A N/A
Canexus Corporation CUS Y N 5% N/A N/A
Capstone Infrastructure Corporation CSE Y N N N/A N/A
Caribbean Utilities Company, Ltd. CUP.U Y N N N/A N/A
Cenovus Energy Inc. CVE Y N N N/A N/A
Cervus Equipment Corporation CVL Y N 5% N/A N/A
Chartwell Seniors Housing REIT CSH.UN Y N 3% N/A N/A
Churchill Corporation CUQ Y N 5% N/A N/A
CIBC CM Y Y 2% $100 $50,000/Year
Citadel Income Fund CTF.UN Y N N N/A N/A
Claymore Exchange-Traded Funds (ETFs) - Y N N N/A N/A
ClubLink Enterprises Limited CLK Y N 5% N/A N/A
Cominar REIT CUF.UN Y N 5% N/A N/A
COMPASS Income Fund CMZ.UN Y Y 5% $100 -
Corus Entertainment CJR.B Y N N N/A N/A
Crescent Point Energy Corp. CPG Y N 5% N/A N/A
Daylight Energy Ltd. DAY Y Y 5% $1,000 $100,000/Month
DDJ High Yield Fund HYB.UN Y N 5% N/A N/A
Dundee REIT D.UN Y Y 4% $1,000 $250,000/Year
Dundee International REIT DI.UN Y Y 4% $1,000 $250,000/Year
Eagle Energy Trust EGL.UN Y N 5% N/A N/A
Emera Inc. EMA Y Y 5% $25/Quarter $5,000/Quarter
Enbridge Inc. ENB Y Y 2% - $5,000/Quarter
Enbridge Income Fund Holdings Inc. ENF Y Y N $100/Month $1,000/Month
EnCana Corporation ECA Y N N N/A N/A
Energy Income Fund ENI.UN Y N N N/A N/A
Enerplus Corporation ERF Y Y N N/A N/A
EnerVest Diversified Income Trust EIT.UN Y Y N - $1,000/Month
EnerVest Energy & Oil Sands Total Return Trust EOS.UN Y Y N $100 $1,000/Month
Equitable Group Inc. ETC Y N N N/A N/A
Exchange Income Corporation EIF Y Y 3% $100 $10,000/Month
Extendicare REIT EXE.UN Y N 3% N/A N/A
Firm Capital Mortgage Investment FC Y Y N $250/Month $12,000/Year
Flaherty & Crumrine Investment Grade Fixed Income Fund FFI.UN Y Y 5% - -
Fortis Inc. FTS Y Y 2% $100/Quarter $30,000/Year
Freehold Royalties Ltd. FRU Y N N N/A N/A
Gibson Energy Inc. GEI Y N 3% N/A N/A
GMIncome & Growth Fund GMF.UN Y Y 5% $100 -
H&R REIT HR.UN Y Y 3% $250/Month $13,500/Year
Homburg Canada REIT HCR.UN Y N 3% N/A N/A
HOMEQ Corporation HEQ Y N 4% N/A N/A
Horizon Alpha Pro ETFs - Y N N N/A N/A
Husky Energy HSE Y N N N/A N/A
Imperial Oil Limited IMO Y Y N $50/Quarter $5,000/Quarter
Income Financial Trust INC.UN Y N N N/A N/A
INDEXPLUS Dividend Fund IDF.UN Y Y 5% $100 -
INDEXPLUS Income Fund IDX.UN Y Y 5% $100 -
Intact Financial Corporation IFC Y N N N/A N/A
Inter Pipeline Fund IPL.UN Y N 5% N/A N/A
InterRent REIT IIP.UN Y Y 4% $250 -
Just Energy Group JE Y Y 2% $500/Month $100,000/Year
Keyera Corp. KEY Y N 3% N/A N/A
Killam Properties Inc. KMP Y N 3% N/A N/A
Lanesborough REIT LRT.UN Y Y 4% $1,000 $10,000/Month
Liquor Stores N.A. Ltd. LIQ Y N 3% N/A N/A
Manitoba Telecom Services Inc. MBT Y Y 3% $100 $20,000/Year
Manulife Financial Corporation MFC Y Y 3% $100/Quarterly $250,000/Year
MCAN Mortgage Corporation MKP Y N N N/A N/A
Medical Facilities Corporation DR Y N N N/A N/A
MINT Income Fund MID.UN Y Y N $100 -
Morguard Corporation MRC Y N N N/A N/A
Morguard REIT MRT.UN Y N N N/A N/A
MOSAID Technologies MSD Y N N N/A N/A
Mulvihill Premier Canadian Income Fund PCU.UN Y N 5% N/A N/A
Mulvihill Top 10 Canadian Financial Trust TCT.UN Y N 5% N/A N/A
NAL Energy Corp. NAE Y Y 5% $1,000 $5,000/Month
National Bank of Canada NA Y Y N $500 $5,000/Quarter
Nexen Inc. NXY Y N 5% N/A N/A
Northland Power Inc. NPI Y N N N/A N/A
NorthWest Healthcare Properties REIT NWH.UN Y N 3% N/A N/A
Olympia Financial Group Inc. OLY-X Y Y N - -
Onex Corporation OCX Y N N N/A N/A
Parkland Fuel Corporation PKI Y N N N/A N/A
Partners REIT PAR.UN Y Y 3% $1,000 $12,000/Year
PATHFINDER Convertible Debenture Fund PCD.UN Y Y 5% $100 -
Pengrowth Energy Corporation PGF Y Y 5% - $1,000/Month
Penn West Exploration PWT Y Y 5% $500 $5,000
Phoenix Technology Services PHX Y N 5% N/A N/A
Plazacorp Retail Properties Limited PLZ-X Y N 3% N/A N/A
Potash Corporation POT Y N N N/A N/A
Precious Metals and Mining Trust MMP.UN Y N N N/A N/A
Primaris Retail REIT PMZ.UN Y N 3% N/A N/A
Progress Energy Resources Corp. PRQ Y N 5% N/A N/A
Provident Energy Ltd. PVE Y Y 5% $1,000 $100,000/Month
REIT INDEXPLUS Income Fund IDR.UN Y Y 5% $100 -
Retrocom Mid-Market REIT RMM.UN Y N 4% N/A N/A
RioCan REIT REI.UN Y Y 3.1% $250/Month $25,000/Year
Rogers Communications Inc. RCI.B Y N N N/A N/A
Royal Bank of Canada RY Y N N N/A N/A
Senior Gold Producers Income Corp GPC Y Y 5% - $20,000/Year
Shaw Communications Inc. SJR.B Y N N N/A N/A
Skylon Growth & Income Trust SKG.UN Y N N N/A N/A
Student Transportation of America Ltd. STB Y N 3% N/A N/A
Suncor Energy Inc. SU Y Y N $100 $5,000/Quarter
Sun Life Financial SLF Y Y 2% $100/Quarter $50,000/Year
Superior Plus Corp. SPB Y Y 5% $1,000/Month $20,000/Year
Telus Corporation T Y Y N $100/Month $20,000/Year
Thomson Reuters Corporation TRI Y N N N/A N/A
Timbercreek Mortgage Investment Corporation TMC Y N 5% N/A N/A
Tim Hortons THI Y Y N $25 $250,000/Year
Toronto-Dominion Bank TD Y N 1% N/A N/A
Torstar Corporation TS.B Y N N N/A N/A
TransAlta Corporation TA Y Y 3% - $5,000/Quarter
TransCanada Corporation TRP Y Y N $50/Quarter $10,000/Quarter
TransGlobe REIT TGA.UN Y N 3% N/A N/A
Triax Diversified High-Yield Trust TRH.UN Y N N N/A N/A
Troy Resources NL TRY Y N 5% N/A N/A
Valener Inc. VNR Y N 5% N/A N/A
Veresen Inc. VSN Y N 5% N/A N/A
Vermilion Energy Trust VET Y N 5% N/A N/A
Whiterock REIT WRK.UN Y Y 4% $250 -
Yellow Media Inc. YLO Y N 5% N/A N/A
YIELDPLUS Income Fund YP.UN Y Y 5% $100 -
Zargon Oil & Gas Ltd. ZAR Y N 5% N/A N/A

LEGEND: Company - name of company offering a Dividend Reinvestment Plan (DRIP); Company Hyperlink - click the link to view the plan details;
Symbol - company's stock ticker symbol; Symbol Hyperlink - click the link to view the current Globe Investor stock quote; DRIP - does the company have a DRIP?;
SPP - does the company offer a Share Purchase Plan (SPP) or Optional Cash Purchase Plan (OCP) which allows the user to purchase additional shares/units through the company's transfer agent?;
Discount - does the company offer a discount on the price of additional shares/units purchased through an SPP/OCP or through dividend reinvestment?;
Minimum - the minimum amount per SPP/OCP; Maximum - the maximum amount per SPP/OCP; Highlighted Row - company has an SPP/OCP