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The S & P / TSX Composite Index is still in record territory on November 19, 2021, despite slipping over the past three trading days. Some market watchers have said new COVID lockdowns in Europe have disrupted major Canadian equity benchmarks. However, chief investment officer Greg Taylor of Purpose Investments said people cashed in resource stocks and somehow caused the index to drop.
Still, countless dividend-paying stocks trade for less than $ 20 per share, but offer generous payouts. This is the perfect time to collect shares of Aecon Group (TSX: ARE), Seniors residence in Siena (TSX: SIA), or Acadian wood (TSX: DNA). Their returns range from 4% to over 6.25% if you need recurring passive income.
Aecon is well known in Canada for its dynamic and landmark projects. The $ 1.03 billion company is an icon in the country’s construction industry. It was founded in 1877 and has since provided construction and infrastructure development services to the private and public sectors.
Besides the country of origin, Aecon has customers in the United States and abroad. After three quarters in 2021, operating profit ($ 9.5 million) is back after an operating loss of $ 3 million during the same period in 2020. Total revenue increased by 12.1% year on year.
Management expects continued growth in recurring revenues, particularly in the utilities sector. However, there are expected to be multi-year projects in the civil, industrial, nuclear and urban transport sectors due to the sustained demand for Aecon’s services. The share price is 16.94%, while the dividend yield is 4.13%.
Improvement of the operating environment
Sienna Senior Living is pure dividend game. The Health stock is trading at just $ 15.01 but pays a hefty dividend of 6.24%. Interestingly, current investors are up 11.26% year-to-date after a difficult COVID year. The pandemic has severely affected the operations of this leading provider of senior residences and long-term care (LTC) services in Canada.
While total revenue after the three quarters of 2021 is relatively stable compared to the same period in 2020, management reported net profit of $ 15.99 million. It has lost $ 15.75 million as of September 30, 2020. Sienna President and CEO Nitin Jain said, “Our strong third quarter operating results and occupancy growth support our General optimism about the way forward for Sienna.
In addition, the operating environment is continuously strengthening, as evidenced by the strong gains in occupancy. In the third quarter of 2021, the average occupancy rates of the retirement and LTC segments are now 82.1% and 86.2% respectively.
Acadian Timber maintains a positive outlook for the remainder of 2021. The $ 303.03 million company is a supplier of primary forest products to customers in eastern Canada and the northeastern United States. According to CFO Susan Wood, the business strategy for years has been to maximize cash flow from existing forest assets.
So far this year, there is a constant, strong and stable demand for softwood logwood, hardwood sawlogs and biomass. During the nine months ended September 25, 2021, the overall sales volume decreased by 11.6% compared to the same period in 2020. However, the net profit climbed 74.5% to 11.8 million. dollars.
Notably, free cash flow increased 20.5% to $ 11.45 million. At just $ 18.16 per share, you can participate in Acadian’s lucrative 6.39% dividend.
Value for money
The landscape remains conducive to investment, especially for passive investors. Aecon, Sienna Senior Living, and Acadian Timber offer true value for less than $ 20.