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
tii2309 (May 4, 2023)
Earning income from gold… Energy stocks continue to pay off… Yours Questions: GIS puzzle
tii2308 (April 27, 2023)
Balance bounce-back… The end of the rate hike cycle… Gavin Graham updates CK Hutchison Holdings, The Keg, Pason Systems, Savaria Corp., Bank of Nova Scotia… Gordon Pape updates Proctor & Gamble, Coca-Cola… Your Questions: Savings ETFs
tii2307 (April 13, 2023)
TNT drops a bomb… Gavin Graham updates five retail REITs… Your Questions: Tax treatment of HHL.U
tii2306 (March 30, 2023)
Rising rates hit High-Yield Portfolio… Interest rates and your money… Gavin Graham’s REIT updates: Allied, Artis, Minto, Granite… Gordon Pape updates BCE, Enbridge, TC Energy, Russel Metals, Algonquin Power & Utilities
tii2305 (March 16, 2023)
Green energy woes continue… Gordon Pape updates Brookfield Renewables… Gavin Graham updates Fairfax Financial, Ecora Resources
tii2304 (February 23, 2023)
Setback for RRIF portfolio… Shifting to value… Top Pick: Saputo Inc… Gavin Graham updates Boralex, Leon’s Furniture, Fiera Capital… Gordon Pape updates Suncor Energy, Coca-Cola, Duke Energy… Your Questions: A death in the family
tii2303 (February 9, 2023)
RRSP crunch… Three stocks for your retirement plan… Gordon Pape updates P&G… Your Questions: RRIF withdrawals… Housekeeping
Recent Updates
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
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
Mullen Group Ltd. (TSX: MTL)
Mullen Group is an Alberta-based transportation and logistics company, with a market cap of $2.64 billion. It’s mainly known as a trucking company, but Mullen also provides specialized services related to the energy, mining, forestry, and construction industries in Western Canada. These include water management, fluid hauling, and environmental reclamation.
We recommended the stock in May 2023 at $15.46. The major attractions were a steady share price and a monthly dividend of $0.06 per share ($0.72 a year), which at the time generated a yield of 4.7%. In August 2024, the monthly dividend was raised to $0.07 ($0.84 a year), for a yield of 2.8% at the recent price of $29.75.
The rise in the share price reduced the yield, but those who bought at the time of our original recommendation have a capital gain of 86% to compensate.
Hold
Keyera Corp. (TSX: KEY, OTC: KEYUF)
Keyera provides services such as gathering, processing, fractionation, storage, transportation, and marketing liquid natural gas (LNG). It does not do any exploration or production.