There are certain sectors of the stock market that are well-known for having quality dividend stocks. Consumer staples, healthcare, and utilities all come to mind.
Corus Entertainment (CJREF) is not a company that falls within any of these sectors, as it is one of Canada’s largest media companies. However, it has many appealing characteristics for dividend investors.
What especially stands out about Corus Entertainment is the company’s 8.4% dividend yield, which includes it among the short list of stocks with 5%+ dividend yields.
You can see the full list of all 416 stocks with 5%+ dividend yields here.
In addition to Corus’ high dividend yield, the company pays monthly dividend payments.
Monthly dividends are ideal for retirees and other investors who rely on their dividend income to cover life’s expenses.
Unfortunately, there aren’t many companies that pay monthly dividends. You can see the full list of all 29 monthly dividend stocks here.
Corus Entertainment’s exceptionally high dividend yield and monthly dividend payments make it an intriguing stock for income investors.
This article will analyze the investment prospects of Corus Entertainment in detail.
Business Overview
Corus Entertainment is one of Canada’s largest media companies and owns or distributes the iconic brands shown below.
Source: Corus Entertainment May 2017 Investor Presentation, slide 4
Recently, Corus experienced a significant business transformation after acquiring Shaw Media in April of 2016. The transaction saw the combined company announce a new senior executive team and saw Corus assume Shaw’s 19 media assets, which include household names like:
One of the major benefits of this transaction is the potential for meaningful cost synergies post-merger.
The company is tracking ahead of its goal to deliver $40-$50 million in annual cost savings within 18-24 months of the acquisitions. To-date, Corus has captured $45 million in annual cost savings.
No Comments