TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,744.17, down 163.65 points.)
Manulife Financial Corp. (TSX:MFC). Financials. Down 28 cents, or 1.1 per cent, to $26.00 on 24.4 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Unchanged at $37.09 on 21.3 million shares.
Great-West Lifeco Inc. (TSX:GWO). Financials. Down 49 cents, or 1.3 per cent, to $38.63 on 11.1 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down six cents, or 3.7 per cent, to $1.55 on 8.1 million shares.
Kinross Gold Corp. (TSX:K). Materials. Down three cents, or 0.4 per cent, to $7.01 on 6.6 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down 19 cents, or one per cent, to $19.32 on 6.2 million shares.
Companies in the news:
Gildan Activewear Inc. (TSX:GIL). Up $1.71 or 3.5 per cent to $50.75. Gildan Activewear Inc. raised its dividend nearly 10 per cent Wednesday as it laid out its plan to grow sales and earnings over the next three years. Chief financial and administrative officer Rod Harries said Gildan is a "fundamentally stronger company" by generating strong results in the fourth quarter and record sales, earnings and free cash flow in 2021. Gildan said it plans to continue to expand its capacity in Central America and the Caribbean and resume the expansion in Bangladesh where it is building the first of two large textile and sewing facilities. In its outlook, Gildan said it expects a compounded annual growth rate for sales of seven to 10 per cent over the next three years with growth of adjusted EBIT (earnings before interest and taxes) of 18 to 20 per cent. The Montreal-based company said Wednesday it will now pay a quarterly dividend of 16.9 cents per share, up from 15.4 cents. The increased payment to shareholders came as it reported a fourth-quarter profit of US$173.9 million, up from US$67.4 million a year earlier. Net sales for the three month ended Jan. 2 reached a record for the fourth quarter of US$784.3 million, up 14 per cent from US$690.2 million in the prior year.
Bausch Health Companies Inc. (TSX:BHC). Down 99 cents or 3.3 per cent to $29.16. Bausch Health Companies Inc. reported a profit in its latest quarter compared with a loss a year earlier. The company, which keeps is books in U.S. dollars, says its profit attributable to Bausch Health totalled US$69 million or 19 cents per share for the quarter ended Dec. 31, compared with a loss of US$153 million or 43 cents per diluted share in the same quarter a year earlier. Revenue totalled nearly US$2.2 billion compared with $2.21 billion in the fourth quarter of 2020. On an adjusted basis, the company says it earned US$463 million in the fourth quarter compared with an adjusted profit of US$478 million in the last three months of 2020. In its outlook for 2022, Bausch Health says it expects revenue between US$8.4 billion and US$8.6 billion this year. Full-year adjusted earnings before interest, taxes, depreciation and amortization are expected to be in a range from US$3.45 billion to US$3.6 billion.
Molson Coors Beverage Co. (TSX:TPX.B). Up $2.19 or 3.5 per cent to $64.69. Molson Coors Beverage Co. has raised its dividend amid higher sales and profits in its latest quarter as the company benefited from the reopening of venues and an increase in premium beverages sales. The brewer, which reports its results in U.S. dollars, hiked its quarterly dividend 12 per cent to 38 cents per share. Molson Coors recorded a profit of US$80 million or 37 cents per diluted share in its fourth quarter, compared with a net loss of US$1.37 billion or US$6.32 per diluted share a year earlier. Sales in the quarter ended Dec. 31 reached $2.62 billion, up from $2.29 billion in the last three months of 2020. The company reported an underlying profit of US$176.2 million or 81 cents per diluted share in its fourth quarter, compared with US$86.6 million or 40 cents a year before. Analysts on average had expected a profit of 86 cents per share, according to financial data firm Refinitiv.
This report by The Canadian Press was first published Feb. 23, 2022.
The Canadian Press
