TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange: Toronto Stock Exchange (21,683.08, down 85.45 points.) Enbridge Inc. (TSX:ENB). Energy. Down 11 cents, or 0.22 per cent, to $50.59 on 30.8 million shares.
TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (21,683.08, down 85.45 points.)
Enbridge Inc. (TSX:ENB). Energy. Down 11 cents, or 0.22 per cent, to $50.59 on 30.8 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up 13 cents, or 0.4 per cent, to $32.46 on 14.7 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down 25 cents, or 1.57 per cent, to $15.72 on 9.5 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down two cents, or 1.04 per cent, to $1.90 on 9.3 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Down seven cents, or 4.93 per cent, to $1.35 on 7.9 million shares.
Hexo Corp. (TSX:HEXO). Health care. Down 14 cents, or 6.28 per cent, to $2.09 on 7.6 million shares.
Companies in the news:
Restaurant Brands International Inc. (TSX:QSR). Up $1.34 or 1.9 per cent to $73.09. José Cil first tried Firehouse Subs while criss-crossing Florida as a Walmart executive. Fast forward more than a decade to the late summer of 2021. Cil learned that the founders of Firehouse Subs — brothers and former firefighters Chris and Robin Sorensen — would consider selling if they found the right partner. Cil knew the sandwich chain would complement Restaurant Brands’ existing portfolio of Tim Hortons, Burger King and Popeyes. Restaurant Brands announced Monday plans to buy Firehouse Subs for US$1 billion. The company said the U.S.-based restaurant, which features hot specialty subs on its menu, is a strong and growing player in the quick service restaurant industry. Firehouse Subs was founded in Jacksonville, Fla., in 1994 by the Sorensen brothers. The sandwich chain has tripled its restaurant footprint to about 1,200 locations since 2010. In the same period, its system-wide sales have quadrupled to an estimated US$1.1 billion expected for 2021, according to Restaurant Brands. Still, as it looks to expand, Firehouse Sub faces stiff competition from rivals like Subway and Mr. Sub, owned by Montreal-based MTY Food Group Inc.
George Weston Ltd. (TSX:WN). Up $1.65 or 1.2 per cent to $140.77. George Weston Ltd. says it has signed a deal to sell its Weston Foods ambient bakery business for $370 million. Weston’s ambient business provides retail and food service customers in Canada and the U.S. with cookies, crackers, cones and wafers. The Toronto-based company says it will sell the business to Illinois-based Hearthside Food Solutions, a contract manufacturer and producer of baked foods, snacks, nutrition bars and more. George Weston announced in March its intention to sell its bakery segment and to focus on its retail and real estate businesses. In October, the company reached a deal to sell its fresh and frozen bakery businesses to affiliated entities of FGF Brands Inc. for aggregate cash consideration of $1.2 billion. Together with the sale of the fresh and frozen business, the sale of the ambient business represents the disposition of George Weston’s entire bakery business, for an aggregate value of $1.57 billion. The ambient business sale is expected to close before the end of the first quarter of 2022. The company says it expects to return the net proceeds from both transactions to shareholders through share repurchases over time.
Great-West Lifeco Inc. (TSX:GWO). Up eight cents to $38.42. Great-West Lifeco Inc. is raising its quarterly dividend to shareholders by 12 per cent. The insurance company says it has declared an additional dividend of 5.2 cents per share, payable on Dec. 31 to shareholders of record at the close of business on Dec. 3. Combined with its dividend of 43.8 cents per share announced Nov. 3, Great-West will pay a total quarterly dividend of 49 cents per share. The Office of the Superintendent of Financial Institutions lifted COVID-19-related restrictions on Nov. 4 that had prevented federally regulated banks and insurers from raising dividends and buying back shares. Great-West says it has set a target dividend payout ratio range of 45 to 55 per cent of its base earnings. Great-West CEO Paul Mahon says the new target dividend payout range supports a balanced approach to dividend increases in line with expected earnings growth while maintaining financial strength.
This report by The Canadian Press was first published Nov. 15, 2021.
The Canadian Press