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A Canadian Blue Chip Is Born! (TSE:X)

165 views  2012-02-28 21:34   TagsCanadian  blue  chip  stock  exchange 

Congratulations to TMX Group (TSE:X) on achieving ten years of consecutive annual dividend payments!

TMX Group is Canada's stock exchange that trades on the TSE as symbol X; its current market cap is 3.21B. The company paid out its first quarterly dividend for 2012 on February 22 -- which brings its consecutive annual dividend payments to an even 10; one of 2 criteria essential for blue chip status. As far as U.S/Canadian publicly traded stock exchanges are concerned, TMX Group is the first to reach blue chip status, beating out larger companies in the industry; companies like CME Group (19.31B), IntercontinentalExchange (10.15B), NYSE Euronext (8.00B), NASDAQ OMX Group (4.72B) and CBOE Holdings (3.71B).

Incidentally and interestingly, TMX Group beat CME Group to blue chip status by a month; both TMX and CME began dividend payments in '03.  TMX paid out in February and CME paid out in March.

Some quick X statistics:

  • Stock history: 2002 - 2012
  • Dividend history: 2003 - 2012
  • Current (annual) dividend yield: 3.72%
  • 10-year average yield: 4.39% (inc. 2003 special dividend of $2.50)
  • 10-year share price high: $57.22
  • 10-year share price low: $10.28
  • My preset buy price: $17.50
As a Canadian I am proud to know that the country's #1 exchange is now a blue chip stock. I look forward to reading up on the past 10 years of annual reports to get a feel for the company and also the industry. Long live dividends from TMX!

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