TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,861.10, up 227.83 points.)
Suncor Energy Inc. (TSX:SU). Energy. Up 81 cents, or 2.67 per cent, to $31.10 on 32.4 million shares.
Canadian Natural Resources (TSX:CNQ). Energy. Up $1.83, or 3.53 per cent, to $53.73 on 19.9 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 41 cents, or 0.86 per cent, to $48.30 on 14.4 million shares.
Baytex Energy Inc. (TSX:BTE). Energy. Up 25 cents, or 7.02 per cent, to $3.81 on 10.2 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Up 45 cents, or 7.91 per cent, to $6.14 on 9.2 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up 46 cents, or 3.02 per cent, to $15.68 on 6.8 million shares.
Companies in the news:
Canadian National Railway Co. (TSX:CNR). Up $1.56 to $165.90. Amid growing backlogs, Canadian National Railway Co. trains are moving through southern British Columbia again after extensive flooding over the last three weeks. CN said service resumed Sunday after crews worked around the clock on the Vancouver-Kamloops corridor, which was first cut by landslides and washouts caused by torrential downpours in mid-November. The country's largest railroad operator restored limited activity along the vital supply link late last month before opting to close the line again a week ago as more storms triggered further mudslides and debris. The damage to tracks and cars in dozens of spots followed floods that have caused bottlenecks for imports and exports on the West Coast. The restored connection will allow freight to flow to and from the Port of Vancouver and begin to clear the massive backlogs of incoming shipping containers and outgoing grain. The repaired lines will also allow Canadian Pacific Railway Ltd., which shares tracks with CN through part of the Fraser Valley, to boost its shipments.
Alimentation Couche-Tard Inc. (TSX:ATD.B). Up $1.38 or 2.9 per cent to $48.89. Convenience store giant Alimentation Couche-Tard Inc. is winding up its dual-class share structure this week. The Quebec-based company will convert all of its outstanding class B shares to class A shares on a one-for-one basis as of Wednesday trading, earlier than previously indicated. A so-called sunset clause was put in place in 1995 to bring an end to the dual-class share structure when the youngest of the company founders turns 65 or dies. The clause is triggered Wednesday with the birthday of the youngest founder, Jacques D'Amours. The class A shares owned by the four founders — D'Amours, Alain Bouchard, Richard Fortin and Réal Plourde — carry 10 votes per share while class B shares carry one vote per share. Bouchard, who is executive chairman of the board, says the four founders will remain directors and closely involved in the organization. The four founders unsuccessfully tried to extend their voting rights in 2016, but a shareholder vote on the proposal was cancelled after they concluded two-thirds support from subordinate shareholders wasn't possible.
Dye & Durham Ltd. (TSX:DND). Up $3.58 or 9.3 per cent to $42.25. Dye & Durham Ltd. has signed a deal to buy Telus' financial solutions business for $500 million. The financial solutions business provides a national payment infrastructure that helps people make payments online. The business also helps connect Canadian financial institutions with lawyers when doing residential real estate transactions. Dye & Durham chief executive Matt Proud says the deal is consistent with the company's growth strategy and adds significant scale within its Canadian business. The company also says is has closed its previously announced $1.8-billion senior secured credit facility. It says it used it repay other debt and finance the Telus acquisition, with the remaining amount to be used to finance its continued acquisition strategy, among other things.
This report by The Canadian Press was first published Dec. 6, 2021.
The Canadian Press
