Two high-yield Canadian growth stocks

Article Excerpt

EXTENDICARE INC. $9.57 (Toronto symbol EXE; TSINetwork Rating: Extra Risk) (905-470-5534; www.extendicare.com; Shares outstanding: 88.0 million; Market cap: $825.7 million; Dividend yield: 5.0%) owns 62 long- and short-term senior-care facilities that can house 8,464 residents. It manages another 54 residences that are home to 6,426 seniors. Extendicare also operates 47 ParaMed Home Health Care branches in six provinces. ParaMed’s 10,900 staff members provide nursing care and other forms of assistance to clients who live in their homes. In late 2014, the company sold its 156 U.S. facilities for $231.1 million U.S. Extendicare has now deployed the cash from the sale. That new spending includes the April 2015 purchase of Revera Home Health for $83.6 million. As well, in late 2015, it bought four senior-care facilities in Ontario and Saskatchewan for $98.8 million. In February 2016, it acquired two more in Saskatchewan for $40.5 million. Extendicare is also building three homes in Ontario for $81 million. In the three months ended…