Designed to help Canadians find investment solutions to the two big problems they’re facing: low interest rates and volatile stock markets, the Income Investor was chosen by The Globe and Mail as one of the top five investment newsletters in Canada. If you need income from investments with minimal risk, the Income Investor covers all types of income securities including income trusts, preferred shares, high-yielding common stocks, bonds, mutual funds, exchange-traded funds, and GICs. Any security that generates cash flow is fair game for our experts.
Edited and published by Gordon Pape. Editor: Mike Keerma.
With Gavin Graham, Shawn Allen, Richard Croft, & David Kitai.
Recent Issues
tii2316 (August 31, 2023)
Rate hikes hit RRIF portfolio… An options alternative to single mortgages… Richard Croft updates iShares Core Canadian Short-Term Bond Index ETF, BMO Short Corporate Bond Index ETF, Manulife Financial… Gordon Pape updates Keyera Corp., Gibson Energy, Pembina Pipeline, Proctor & Gamble
tii2315 (August 17, 2023)
How safe are energy dividends?… Gordon Pape updates BCE, Freehold Royalties, Algonquin Power & Utilities, Macquarie Infrastructure… Members’ Corner: Registered plans
tii2314 (July 27, 2023)
The worst place for your money… Buy perpetual preferred shares now… Good news for REITs: rate cycle ending… Gavin Graham updates Allied Properties, Primaris REIT… Gordon Pape updates Firm Capital, Mullen Group, The North West Company, Innergex… Your Questions: What about annuities?
tii2313 (July 13, 2023)
NorthWest looks oversold… Gordon Pape updates TransAlta Renewables, Algonquin Power & Utilities, Canoe EIT Income Fund… Gavin Graham updates AltaGas… Your Questions: Variable income securities
tii2312 (June 22, 2023)
Betting on interest rates… Rate resets look attractive… Recession coming – but green demand still growing… This month’s Top Pick: Lundin Mining… Gavin Graham updates Watts Water Systems, Sun Life Financial… Gordon Pape updates Brookfield Renewable Partners
tii2311 (June 8, 2023)
Brookfield LPs recover… Gordon Pape’s stock updates: BMO Group, Exchange Income Corporation… Gordon Pape’s ETF updates: iShares 0-5 Years TIPS Bond Index ETF, CI Health Care Giants Covered Call ETF, BMO Global Consumer Staples Hedged to CAD Index ETF
tii2310 (May 18, 2023)
Algonquin eyes a break-up… Hedging your portfolio… Richard Croft updates Power Corporation of Canada, Canadian Imperial Bank of Commerce, BMO Short Corporate Bond Index ETF… This month’s Top Pick: Mullen Group… Gordon Pape’s stock updates: Duke Energy, TC Energy, Enbridge, Pembina Pipeline… Your Questions: CI’s credit rating
Recent Updates
Sienna Senior Living Inc. (TSX: SIA, OTC: LWSCF)
Sienna Senior Living is one of Canada’s largest owners of seniors housing and the largest licensed long-term care provider in Ontario. The company owns a portfolio of 93 senior housing properties, operating an additional 12 for external owners. That real estate focused business and strong dividend yield makes it functionally equivalent to a REIT.
Buy
Dream Industrial REIT (TSX: DIR.UN, OTC: DREUF)
This REIT specializes in light industrial properties, mainly located in Canada but with a U.S. expansion strategy. It owns and operates a portfolio of 223 geographically diversified properties comprising approximately 20.2 million square feet of gross leasable area.
Buy
Choice Properties REIT (TSX: CHP.UN)
The Weston family-controlled Choice Properties REIT holds its Loblaw-anchored grocery store assets. On Dec. 31, 2025, Choice owned 699 properties, consisting of 68.5 million sq. ft., with 98.2% occupancy worth $18 billion. Loblaws comprised 59% of the total, leaving 28.3 million sq. ft. for third-party retailers. 83% of the total is necessity-based retailers, including groceries, quick service restaurants, pharmacies, liquor stores, and doctors offices.
Buy
BMO Global Infrastructure ETF (TSX: ZGI)
This was the first ETF launched by Bank of Montreal in 2010 and is a good-sized fund with $222 million in assets. It offers reasonable liquidity and passively follows the Dow Jones Brookfield Global Infrastructure North American Listed Index, with weightings based on the market capitalization of the stocks in the index.
Hold
Canadian Imperial Bank of Commerce (TSX, NYSE: CM)
Since our initial Buy recommendation in May 2019, CIBC has returned between 430% and 450% including reinvested dividends.