1 Monthly Dividend Stock to Stash in 2022

The S&P/TSX Composite Index was down 132 points in mid-afternoon trading on February 18. Canadian investors should brace for more volatility as the Bank of Canada (BoC) prepares for several rate hikes in 2022. In this climate, it is a good idea to stash a dividend stock that can provide consistent income at a high yield.

Bird Construction (TSX:BDT) is a Mississauga-based company that operates as a general contractor. Canada’s construction industry is on pace for attractive growth going forward. It is a worthy target, especially as Canada’s largest cities continue to rapidly expand.

Investors can expect to see its fourth quarter and full year 2021 results on March 8, 2022. In Q3 2021, the company reported revenue growth of 80% to $621 million. Meanwhile, adjusted earnings rose to $13.8 million or $0.26 per share. Moreover, it delivered adjusted EBITDA of $28.6 million – up 29% from the previous year.

In the first nine months of 2021, Bird posted construction revenue growth of 70% to $1.62 billion. Meanwhile, adjusted earnings were reported at $37.9 million or $0.71 per share – up from $20.1 million or $0.47 per share in the previous year. Adjusted EBITDA soared 90% from the previous year to $79.7 million.

Shares of this dividend stock possess an attractive price-to-earnings ratio of 9.2. It offers a monthly distribution of $0.033 per share. That represents a solid 4.1% yield.