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3 top picks from ScotiaMcleod’s Greg Newman

Greg Newman, director and senior wealth advisor with Newman Group, ScotiaMcLeod.

Greg Newman is director and senior wealth advisor with Newman Group, ScotiaMcLeod. His focus is on Canadian dividend stocks and protection strategies.

Top picks:

Finning International

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Finning has performed well during periods of economic recovery which we believe is coming. It trades near decade low multiples, has reasonable revenue growth and excellent margin expansion prospects.

Chartwell Seniors Housing REIT

Recent merger and acquisition activity in the U.S. suggest that Chartwell is undervalued by about 10 per cent. It grows faster than its peers yet trades at a discount. Enjoy a 5.35 per cent dividend while shareholder value surfaces.

Pengrowth Energy

Pengrowth trades at a wide discount to its peers yet has an 8 per cent dividend that given asset sales appears more sustainable. In the medium term, they also have prolific future production growth potential.

Past picks: Nov. 30, 2011

TransCanada Corp.

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Then: $42.88
Now: $45.49
Total return: +10.39 per cent

InnVest REIT

Then: $4.31
Now: $4.56
Total return: +13.92 per cent

Cominar REIT

Then: $22.48
Now: $23.37
Total return: +9.95 per cent

Total return average: +11.42 per cent

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Market outlook

Eventual U.S. election clarity and improving Chinese and U.S. data points suggest a gradual recovery for global GDP and a lift to stock prices from current levels. While many sectors may benefit, I prefer stocks with high dividend growth given unresolved European and U.S. fiscal cliff concerns.

Watch Mr. Newman on BNN.

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