TORONTO - Shares of Sun Life Financial slumped on Friday after the Canadian insurer missed quarterly profit estimates as weakness in its dental insurance business hurt its U.S. segment.
Sun Life posted its first profit miss in 12 quarters, affected by the sale of Sun Life UK, the end of the COVID-19 public health emergency in the United States, and lower earnings at its wealth and asset management business. "Given the strong results reported by peers this quarter, we believe Sun Life stock could be under pressure in the near term," National Bank analyst Gabriel Dechaine said in a note.With earnings around the corner, you can still pick up this dividend stock with a TSX-beating dividend at 8.9% as of writing! The post Beat the TSX With This Cash-Gushing Dividend Stock appeared first on The Motley Fool Canada.You need income in retirement.
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