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TORONTO – Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (21,556.54, up 100.72 points.)
Enbridge Inc. (TSX:ENB). Energy. Down $1.19, or 2.21 per cent, to $52.69 on 49.6 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Up 21 cents, or 16.94 per cent, to $1.45 on 16.9 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up 66 cents, or 4.23 per cent, to $16.25 on 11.3 million shares.
Hexo Corp. (TSX:HEXO). Health care. Up 21 cents, or 12.14 per cent, to $1.94 on 8.2 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 13 cents, or 0.39 per cent, to $32.84 on seven million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Down three cents, or 0.7 per cent, to $4.24 on 6.7 million shares.
Companies in the news:
Freshii Inc. (TSX:FRII). Up 27 cents or 12.4 per cent to $2.45. Freshii Inc. says it has signed a deal with a hospitality operator to open 20 new restaurants in the United States over six years — the largest multi-unit franchise agreement in the company’s history. The Toronto-based health and wellness brand says the agreement with Level Hospitality will see locations opened in Texas, with a focus on Houston and Austin. Adam Corrin, chief operating officer of Freshii, says Level Hospitality has quick service restaurant experience, a passion for the Freshii brand and a deep knowledge of the Texas market. He says the deal will strengthen the company’s foothold in the southern United States and expand consumer exposure and access to the brand. Level Hospitality co-founder Al Velji says Freshii’s healthy fast food menu will appeal to Texas consumers. Nathan Leitner, also co-founder of the hospitality operator, says Freshii’s growing online presence and ongoing support of its franchise system will help meet the needs of customers however they prefer to shop. In addition to expanding its restaurant chain, Freshii also recently purchased a majority stake in health and wellness product retailer Natura Market ECommerce Inc., with rights to acquire the rest of the business through the first quarter of 2025.
Aurora Cannabis Inc. (TSX:ACB). Up 86 cents or 10.4 per cent to $9.12. Aurora Cannabis Inc. says it has signed a deal to invest in a significant equity stake in Growery B.V., a Netherlands-based company that holds a licence to participate in the country’s controlled cannabis supply chain experiment. The size of the investment was not immediately available. The controlled cannabis supply chain experiment is being used by the Dutch government to see how cannabis can be legally supplied to coffee shops and what the effects of this would be. Aurora says the deal is structured such that it intends to invest an immaterial cash amount, of which a portion is due and payable upfront and the remainder dependent on Growery achieving certain milestones. It will also provide a secured loan to Growery to build a facility, fund early operations and provide technical and operational help through its Netherlands-based research facility for medical cannabis. Aurora CEO Miguel Martin says the Netherlands is expected to be the largest nationally regulated recreational market outside of Canada.
Sun Life Financial Inc. (TSX:SLF). Up 80 cents or 1.1 per cent to $71.51. Sun Life Financial Inc. is raising its dividend after a federal regulator lifted restrictions last week that were put in place in the early days of the pandemic to help protect the country’s financial institutions. The insurance company announced a supplementary dividend of 11 cents per share. The payment is in addition to the quarterly dividend of 55 cents per share it declared Nov. 3. Combined, Sun Life says shareholders will receive a total quarterly dividend of 66 cents per share, a 20 per cent increase from the prior quarterly dividend payment. The company says it remains committed to a dividend payout ratio of 40 to 50 per cent as part of its medium-term financial objectives. The Office of the Superintendent of Financial Institutions lifted COVID-19-related restrictions last week when it said banks and insurers were free to increase dividends, resume share buybacks and raise executive compensation. Manulife was the first insurer to raise its dividend after the announcement when it increased its quarterly payment to shareholders by 18 per cent.
OpenText (TSX:OTEX). Up 44 cents to $64.67. OpenText has signed a deal to buy U.S. company Zix Corp. Inc. in a deal valued at US$860 million, including debt. Under the deal, Ontario-based OpenText will pay US$8.50 per share in cash for the company. Zix specializes in cloud email security, threat protection and compliance cloud solutions for small and medium-sized businesses. The deal follows a strategic review by Zix that was triggered by several unsolicited approaches. The offer requires more than two-thirds of Zix’s shares to be tendered to the bid as well as other regulatory approvals and customary closing conditions. OpenText says holders of 31 per cent of Zix’s issued and outstanding shares have already agreed to tender to the offer.
This report by The Canadian Press was first published Nov. 8, 2021.
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