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I’m pleased to provide the list of stocks in the Frugal Dividend portfolio below along with updates to several other popular portfolios. The portfolios are all based on stock screens of differing levels of complexity that are described in detail in separate articles.

For instance, you can follow the links to learn more about the Stable Dividend portfolio, the Frugal Dividend portfolio, the Dividend Monster portfolio, the Screaming Value portfolio and the Lemonade portfolio.

Frugal Dividend Portfolio

Cheap and stable dividend payers

Bank of MontrealBMO127.924.520.910.6
Bank of Nova ScotiaBNS69.
Great-West LifecoGWO36.845.620.11.6
Manulife FinancialMFC27.115.423.92.6
MCAN MortgageMKP16.498.721.99.4
National BankNA102.513.819.310.8
Sagicor FinancialSFC4.846.224.64.6
TD BankTD87.274.418.810.1

Stable Dividend Portfolio

Low-volatility dividend stocks

Canadian UtilitiesCU35.635.016.512.6
Hydro OneH35.963.117.020.4
Intact FinancialIFC194.002.318.813.0
National BankNA102.513.819.310.8
Power CorpPOW37.075.318.815.5
Rogers SugarRSI6.175.816.638.1
Royal BankRY136.543.917.113.1
Sun Life FinancialSLF67.204.318.311.7
TD BankTD87.274.418.810.1
Thomson ReutersTRI167.761.618.251.1
Timbercreek FinancialTF8.178.419.012.2
TMX GroupX133.852.618.419.5

Dividend Monster Portfolio

High-yield stocks with momentum

NameTickerPriceYield12 Month ReturnP/E
AGF ManagementAGF.B9.254.342.69.7
Birchcliff EnergyBIR8.579.326.54.2
Exchange IncomeEIF51.874.944.020.2
iA FinancialIAG88.323.126.72.4
Lundin GoldLUG14.333.837.366.9
Mullen GroupMTL14.734.927.910.9
PrairieSky RoyaltyPSK21.434.526.416.1
Restaurant BrandsQSR86.563.529.127.9
Russel MetalsRUS36.
Stelco HoldingsSTLC58.892.946.84.1

Screaming Value Portfolio

Lots of EBIT for a low price

Algoma SteelASTL11.780.31.42.3
Crescent Point EnergyCPG9.662.35.94.1
Obsidian EnergyOBE10.061.71.0
Parex ResourcesPXT23.
Vermilion EnergyVET19.
West Fraser TimberWFG103.

Lemonade Portfolio

Profitable stocks in a sweet trend

NameTickerPriceP/E6 Month ReturnMarket Cap
Athabasca OilATH3.154.341.91,848
Coveo SolutionsCVO7.780.736.5871
Fairfax IndiaFIH.U12.858.626.02,511
Major DrillingMDI10.6011.723.1880
MEG EnergyMEG22.594.338.16,518
NuVista EnergyNVA12.224.927.32,677
Spartan DeltaSDE13.403.519.02,297
Torex Gold ResourcesTXG17.546.480.81,506


Notes: Data from Bloomberg as of the close of Mar. 7, 2023. The author has an interest in some of the stocks shown. Yield = indicated dividend yield; volatility = annualized volatility over the past 260 days; P/E = price to earnings over the past four quarters; six (or 12) month return = total return over the past six (or 12) months including reinvested dividends; EV = enterprise value; EBIT = earnings before interest and taxes over the past four quarters; market cap = market capitalization in millions of dollars.

A customary caution

Use our portfolios and stock screens as a starting point for further research. Be sure to improve your understanding of each company by studying it and its industry in more detail. Confirm the data herein before using it.

Watch your step with stocks that trade infrequently, and those with very low share prices, because they may be difficult to buy or sell in a cost-effective manner.

Before dashing off to the market, recognize the built-in limitations of quantitative methods such as ours. For instance, less tangible factors such as the quality of a company’s management can sometimes help – or hinder – a business.

And while we hope our portfolios achieve similar returns to those in the back-tests, the market isn’t that predictable. Even in the best circumstances, we expect results to be bumpy and some individual stocks will disappoint. We would be pleased indeed for the portfolios to outperform the market over the course of a few decades.

Norman Rothery, PhD, CFA, is the founder of

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