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A Canadian Dividend Stock Is Leaving Canada — What Algonquin Power's US Move Means for Your RRSP and TFSA

  Published August 9, 2026 Algonquin Power's move to Delaware could change how your dividends are taxed — and whether index funds keep holding the stock at all. If you've owned Algonquin Power & Utilities Corp. (TSX/NYSE: AQN) in your RRSP or TFSA for the dividend, pay attention this week. On Friday, August 7, the Oakville, Ontario-based utility announced it plans to leave Canada — reincorporating as a Delaware company with its head office moving to Chicago. It's not a rumour or a boardroom leak. It came straight from the company's own Q2 2026 earnings release, and CEO Rod West was blunt about the reasoning: more than 80% of Algonquin's operations are now in the United States, with less than 5% left in Canada. The plan is to align the corporate address with where the business actually lives. What's actually changing Here's the plan as Algonquin has laid it out: The company would formally "continue" out of Canada and reincorporate in Delaware,...
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Banks face challenges as fiscal year ends

                                     

The fiscal year 2023 has been a tough one for Canada’s major banks, as they faced rising costs, regulatory pressures and credit risks. Analysts expect their fourth-quarter earnings, which will be reported this week, to show a decline from last year.

Some of the challenges that the banks encountered this year include:

  • Cost-cutting measures: Some banks, such as RBC and Scotiabank, have reduced their work force and real estate holdings to lower their expenses. Others, such as BMO, have completed or planned major integrations of their acquisitions.
  • Regulatory scrutiny: TD Bank is awaiting the outcome of investigations by U.S. authorities over its anti-money-laundering practices, which could result in fines or other penalties. RBC’s proposed takeover of HSBC’s Canadian unit has also faced opposition from political and environmental groups.
  • Credit risks: As interest rates rise and inflation persists, the banks have increased their provisions for potential loan losses, anticipating higher defaults from their borrowers. The banks are also required to hold more capital by the banking watchdog, OSFI, to cushion against an economic downturn.
  • Slow loan growth: The demand for lending has been dampened by the high cost of borrowing and the uncertainty over the economic recovery. The banks have also faced stiff competition from fintechs and other non-bank lenders, who offer more convenient and cheaper alternatives.

Despite these headwinds, the banks are still well-positioned to weather the storm, as they have strong capital ratios, diversified businesses and loyal customers. The banks are also investing in digital transformation, innovation and growth opportunities, especially in international markets. Analysts and investors will be looking for signs of resilience and optimism from the banks as they wrap up the fiscal year.

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