On Deck

Bradley Goldhar - May 31, 2022
Financial companies make up the largest part of the Canadian market representing 36% of the S&P/TSX 60 index with Canadian banks dominating the top 10 - #1 Royal Bank*, #2 TD Bank*, #4 Bank of Nova Scotia* and #6 Bank of Montreal.

Weekly "Focus" and On Deck
 

 

Financial companies make up the largest part of the Canadian market representing 36% of the S&P/TSX 60 index with Canadian banks dominating the top 10 - #1 Royal Bank*, #2 TD Bank*, #4 Bank of Nova Scotia* and #6 Bank of Montreal (ii). CIBC* is now the smallest of the big five banks but they recently split their stock 2 for 1 and perhaps other banks will follow their lead sometime during the year. The next set of earnings from the group are on deck next week and will give a good read on the health of the economy. Sohrab Movahedi is the BMO Capital Markets analyst covering the banks and he expects dividend increases from CIBC, National Bank* and Royal Bank. 
 

 

Company

Release Date

Return in 2022

Dividend Yield

Bank of Montreal (BMO)

May 24

-4.0%

4.1%

Bank of Nova Scotia (BNS)

May 30

-10.1%

5.0%

CIBC (CM)

May 26

-7.0%

4.7%

National Bank (NA)

May 27

-4.5%

3.8%

Royal Bank (RY)

May 25

-5.4%

3.8%

TD Bank (TD)

May 26

-5.4%

3.9%

 

Source: ThomsonOne, Values as of May 19


This week’s "Focus" from our economics team is available in our Resources Tab under Economic and Market Updates. Click on the link https://bmo.prod.digitalagent.app/bradley.goldhar/publications

Have a great long weekend and please stay safe,
 

Brad
 

Bradley Goldhar | Senior Portfolio Manager and Senior Investment Advisor

BMO Nesbitt Burns Inc. | 1 First Canadian Place | 39th Floor | P.O. Box 150 | Toronto ON M5X 1H3

416.359.6650 (direct) | 416.359.7219 (fax) | 1-800-263-1883 (toll free)

bradley.goldhar@nbpcd.com

www.goldhargroup.com

Source:
(i) ThomsonOne

(ii) Standard & Poor’s
 

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* This specific security is covered under the research of BMO Capital Markets. For a full list of company specific disclosures keys please visit

https://research-ca.bmocapitalmarkets.com/Public/Company_Disclosure_Public.aspx