Top Canadian Dividend Stocks: Ryan Bushell’s July, 2024 Recommendations

Exploring Ryan Bushell's Strategic Picks: Pembina Pipeline, Arc Resources, and K-Bro Linen

Editorial Team (ET)July 4, 2025

Investing in today’s market requires a keen eye for opportunity and a strategic approach to portfolio management. Ryan Bushell, the president and portfolio manager of Newhaven Asset Management, has made a name for himself by focusing on Canadian dividend stocks. In this article, we delve into Bushell’s top picks for July 29, 2024, providing an in-depth look at his market outlook and the rationale behind his choices: Pembina Pipeline, Arc Resources, and K-Bro Linen.

Market Outlook

The performance of Newhaven portfolios in 2024 has been commendable, benefiting from a notable rotation away from richly-valued technology shares. Bushell’s thesis on the growth of power demand in North America is gaining traction, with several natural gas infrastructure names outperforming expectations. This shift indicates a broader market realization of the implications for future gas demand. Despite the optimistic outlook, Bushell maintains a cautious stance on the consumer sector, hoping to capitalize on potential downturns to acquire quality consumer stocks. Impressively, over 50 percent of Newhaven’s holdings have increased their dividends this year, reinforcing Bushell’s confidence in his investment strategy for the foreseeable future.

Top Picks Overview

Ryan Bushell’s top picks focus on solid, dividend-paying Canadian stocks. These choices reflect his strategy of investing in companies with strong fundamentals and growth potential. Let’s explore each of these picks in detail.

Pembina Pipeline (PPL TSX)

Pembina Pipeline Corporation is a leading transportation and midstream service provider that has been a staple in the Canadian energy sector. The company’s diverse portfolio includes oil sands and heavy oil, natural gas liquids, and conventional oil pipeline systems. Pembina’s share price has surged over 15 percent this year, reflecting investor confidence in the company’s strategic direction. This growth is underpinned by significant acquisitions and investments.

Pembina’s recent purchase of the remaining stake in Aux Sable from Enbridge highlights its aggressive growth strategy. Additionally, the final investment decision on the Cedar LNG project presents a substantial opportunity for future expansion.

Pembina boasts a robust balance sheet, ensuring it can continue to capitalize on growth opportunities without compromising financial stability. With a 5.22 percent dividend yield, Pembina offers investors a steady income stream while they wait for further capital appreciation. The company’s strategic initiatives position it well for sustained growth over the next decade.

Arc Resources (ARX TSX)

Arc Resources is a leading Canadian energy company specializing in the exploration, development, and production of oil and natural gas. While commodity prices have been weak recently, leading to a 10 percent retreat in Arc’s share price, the company’s long-term prospects remain strong.

Arc is set to benefit from the growth in contracted volumes over the next few years, which should boost revenue as export capacity increases and commodity prices improve. Investors enjoy a three percent dividend yield, alongside a significant share buyback program, making Arc an attractive investment. The company’s extensive inventory position in Western Canada also enhances its appeal as a potential acquisition target. Arc’s deep inventory in Western Canada makes it a prime candidate for acquisition, further enhancing its attractiveness to investors.

K-Bro Linen (KBL TSX)

K-Bro Linen is a leader in linen and laundry services for the healthcare and hospitality sectors in Canada and the UK. K-Bro has maintained a strong market position despite challenges such as labour inflation and energy price fluctuations in the UK. These factors have contributed to the current undervaluation of its shares.

The company’s management team is highly regarded, and K-Bro’s conservative approach and limited analyst coverage often mean it flies under the radar. Given its stable growth path and strong fundamentals, K-Bro shares are attractive for long-term investors. The company’s recent underperformance presents a buying opportunity.

K-Bro fits the profile of a company ripe for takeover, with solid underlying fundamentals that make it a valuable addition to any portfolio.

###Detailed Analysis ###

Pembina Pipeline’s Strategic Initiatives

Pembina’s acquisition of Aux Sable is a significant milestone, enhancing its position in the natural gas processing and logistics sector. The final investment decision on Cedar LNG marks a pivotal point for Pembina, potentially unlocking new growth avenues. Pembina’s extensive infrastructure network and expected volume growth underscore its long-term potential.

Arc Resources’ Market Position

Arc’s future looks promising with the anticipated increase in export capacity and improved commodity prices. The company’s share buyback program and deep inventory in Western Canada further strengthen its investment appeal.

K-Bro Linen’s Growth Potential

Despite facing labour inflation and energy price challenges, K-Bro’s growth potential remains robust. Limited analyst coverage and a conservative approach mean K-Bro is often overlooked, presenting a unique opportunity for discerning investors.

Investment Considerations

Investors should consider potential risks, including market volatility and sector-specific challenges. The consistent dividend growth among Bushell’s picks offers a reliable income stream for investors. Bushell’s selections are well-positioned for long-term growth, with strong fundamentals and strategic initiatives driving their prospects.

Conclusion

Ryan Bushell’s top picks for July 29, 2024, highlight his strategic approach to investing in solid, dividend-paying Canadian stocks. Pembina Pipeline, Arc Resources, and K-Bro Linen each offer unique opportunities for growth and income, supported by robust fundamentals and strategic initiatives. As the market continues to evolve, Bushell’s cautious optimism and focus on quality investments provide a reliable guide for investors seeking long-term gains.

Bloomberg

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