04:33:07 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



Canadian Imperial Bank of Commerce
Symbol CM
Shares Issued 444,663,526
Close 2019-06-07 C$ 103.48
Market Cap C$ 46,013,781,670
Recent Sedar Documents

Globe says payout growth not best at Big Six banks

2019-06-10 07:27 ET - In the News

Also In the News (C-BMO) Bank of Montreal
Also In the News (C-BNS) Bank of Nova Scotia
Also In the News (C-NA) National Bank of Canada
Also In the News (C-RY) Royal Bank of Canada
Also In the News (C-TD) Toronto-Dominion Bank

The Globe and Mail reports in its Saturday, June 8, edition that a good hedge against inflation is a dividend growth stock. The Globe's Rob Carrick writes that to find stocks you can depend on he consulted the Canadian Dividend Growth Investing and Retirement website, which maintains a detailed Canadian Dividend All-Star list. The list is topped by Canadian Utilities and Fortis, with an incredible 47 and 45 straight years of dividend increases through the end of 2018. Many stocks have a streak of between 20 and 30 years. The longer the streak, the more likely it is that a company is consistently well managed and thus capable of more dividend growth. There are, however, no guarantees in dividend growth. The banks are proof of this. Somehow, Canadian Western Bank and Laurentian Bank of Canada are the only banks on the list of stocks with at least 10 consecutive years of dividend growth. In fact, there are only four financial-services stocks -- Intact Financial and Genworth MI Canada complete the list. The backstory here is that the global financial crisis caused the big banks to interrupt their annual dividend increases temporarily. The Big Six currently have streaks of seven to nine years.

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