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
tii1408 (April 30, 2014)
Tim Hortons issue undermines bond lobby… April’s Top Pick: B&G Foods… Gavin Graham’s Updates: Allied Properties REIT, Broadwalk REIT, Canadian REIT, Dundee International REIT, Intact Financial, Cargojet… More April Updates: TransCanada Corp., TAL International Group, Just Energy Group, National Bank
tii1407 (April 17, 2014)
Betting on demographics… April updates: Peel Region Municipal Debentures, Baytex Energy… Your Questions: RRIF portfolio, Confused about CBO… Members’ Corner: Tax-filing problems… RRSP Book
tii1406 (March 27, 2014)
Balanced portfolio beats target… Convertible debentures and market risk… Gavin Graham’s Updates: Bank of Nova Scotia, Sun Life Financial, Power Financial, Genworth MIC, Davis + Henderson, AG Growth International… Tom Slee’s Updates: Chemtrade Logistics Income Fund 5.75% Convertible Unsecured Subordinated Debentures, H&R REIT 5.9% Convertible Debentures
tii1405 (March 13, 2014)
It’s the bumps that count… March updates: First Capital Realty, Johnson & Johnson, Information Services Corp, Morneau Shepell, Freehold Royalties
tii1404 (February 27, 2014)
RRIF rebound… Third World money capping our interest rates… February’s Top Pick: Enbridge Inc… February Updates: Enerplus Corp, RioCan REIT, Keyera Corp., Bombardier 6.25% Series 4 Preferreds, Diageo plc, Unilever, Canadian National Railway
tii1403 (February 13, 2014)
Bonds to the rescue… February updates: Firm Capital, Brookfield Renewable Energy Partners, Brookfield Infrastructure LP, Baytex Energy… New RRSP book
tii1402 (January 30, 2014)
Searching for greenbacks… Interest rates likely to inch up in 2014… Time to buy interest-sensitive stocks?… January’s Top Pick: Capital Power Corporation… January Updates: FLY Leasing, TAL International, Canexus Corp., Bank of Nova Scotia 5.6% Series 17 Preferreds, Canadian General Investments 4.65% Class A Series 2 Preferreds… Your Questions: Convertible debentures and interest rates
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
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.