Updates on your Conservative stocks: Maple Leaf Foods, Royal Bank of Canada, Canadian Tire

Article Excerpt

MAPLE LEAF FOODS INC. $22 (www.mapleleaffoods.com) is a hold. The company plans to spin off its pork processing business as a separate firm in 2025. It raises and processes hogs and accounts for 32% of Maple Leaf’s total sales. The remaining operations (68%) will focus on packaged meats and plant-based foods. The parent will also retain a 19.9% stake in the new pork firm. While spinoffs tend to work out well for both the parent and the new firm, Maple Leaf’s shares will probably stay in a narrow range until more information becomes available. Maple Leaf Foods is a hold. ROYAL BANK OF CANADA $167 (www.rbc.com) is a buy. With the August 2024 payment, Royal raised your quarterly dividend by 2.9%, to $1.42 a share from $1.38. The new annual rate of $5.68 yields 3.4%. The bank also announced a new plan to buy back about 2% of its outstanding common shares over the next year. Royal Bank is a buy. CANADIAN TIRE CORP. $157 (www.canadiantire.ca) is a buy. The retailer continues to…