This high dividend stock still delivers great value
Manulife Financial (TSX: MFC) (NYSE: MFC) is a Toronto-based insurance and financial services company. I had recommended investors take back Manulife in early June. Shares of the top-dividing stock have climbed 18% in the past three months.
The company was hit by the pandemic during its first quarter. However, it still posted earnings per share of $ 0.64, which exceeded some analyst expectations. Investors can expect to see the company’s second quarter 2020 results on August 5.
Manulife shares last had a price-to-earnings (P / E) ratio of eight and a price-to-book (P / E) of 0.7. This places the dividend stock in very attractive value territory. In addition, Manulife offers a quarterly dividend of $ 0.28 per share. This represents a high yield of 6%.
A stock of energy that can rebound in the second half of 2020
In the spring, I suggested that investors seek to emulate investment legends like Warren Buffett in this uncertain environment. Suncor Energy (TSX: SU) (NYSE: SU) is a TSX-listed stock that Buffett has continued to accumulate in recent years. The stock is down 45% in 2020 at the time of writing.
Suncor is an integrated energy company that struggled with headwinds in the oil and gas industry in 2020. Most recently, it was announced that the company was facing seven environmental charges for an incident at its Stratchona County refinery , Alberta. two years ago. In the first quarter of 2020, Suncor reported an operating loss of $ 309 million, or $ 0.20 per share.
Suncor’s shares last had a favorable P / B value of 0.9. He recently reduced his quarterly dividend to $ 0.21 per share, which represents a yield of 3.7%. I always target this dividend-paying stock, which is one of the biggest players in Canadian energy.
I hide this dividend for the long term
Renewable energy producers enjoyed a strong decade in the 2010s. Their share of energy production is expected to grow at an even higher rate this decade. This is why I am looking for dividend paying stocks like TransAlta Renewables (TSX: RNW). Its stock has risen 5.7% in the past three months.
In the first quarter of 2020, TransAlta posted adjusted operating funds of $ 94 million, which was essentially stable from a year ago. At the same time, it completed its first full quarter of operations on the Big Level and Antrim wind projects. The company has an excellent balance sheet and a strong dividend track record.
The shares of this dividend-paying stock had a favorable P / B value of 1.7 for the last time. It offers a monthly dividend of $ 0.07833 per share, which represents a tasty yield of 6.3%.
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