These safety-conscious stocks remain buys

Article Excerpt

LOBLAW COMPANIES, $86.34, is a buy. The company (Toronto symbol L; Shares outstanding: 338.1 million; Market cap: $29.1 billion; TSINetwork Rating: Above Average; Dividend yield: 1.6%; www.loblaw.ca) is now shutting down its PC Chef meal-kit delivery service, which it launched last year in the Toronto area. It delivers fresh ingredients and recipes that make it easy for customers to prepare meals at home. Demand for meal kits was strong during the height of pandemic in 2020. However, it’s likely customers will cancel the service now that restaurants are re-opening. Even so, the experience and customer data will help Loblaw improve its PC Express home delivery service and in-store meal offers. In the meantime, the company is now raising its quarterly dividend by 9.0%. Starting with the October 2021 payment, investors will receive $0.365 a share instead of $0.335. The new annual rate of $1.46 yields 1.6% Loblaw Cos. is a buy. ENBRIDGE, $49.16 (Toronto symbol ENB; Shares outstanding: 2.0 billion; Market cap: $99.6 billion;…