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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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Record-Breaking February: S&P 500 and Nasdaq Reach New Heights

 


Investors witnessed an impressive rally in the stock market during February, with both the S&P 500 and Nasdaq Composite achieving remarkable milestones. Let’s delve into the details of this historic month.

S&P 500: A Stellar Performance

The S&P 500 soared to new heights, closing at 5,095.88, marking an all-time high. This gain of 0.5% on the day capped off the best February for the index since 2015. The positive momentum was fueled by several factors, including a crucial inflation reading and reassuring economic indicators.

Nasdaq Composite: Breaking Records

The Nasdaq Composite stole the spotlight, closing at 16,091.92, its highest close on record. This achievement was particularly significant as it marked the first record close for the Nasdaq since November 2021. The tech-heavy index surged 0.9% on Thursday, reflecting the robust performance of technology companies.

Inflation and Market Sentiment

The closely watched Personal Consumption Expenditures (PCE) index grew 2.4% year-over-year in January, slightly lower than the previous month’s 2.6%. The “core” PCE, the measure often emphasized by Fed Chair Jerome Powell, came in at 2.8%, down from 2.9% in the prior month. Policymakers continue to monitor inflation closely, emphasizing the need for signs of easing price pressures before committing to rate cuts.

Bitcoin’s Resilience

Meanwhile, bitcoin (BTC-USD) maintained its position above $62,000, coming close to its all-time high of $64,000. The leading digital currency’s recent rally has been unprecedented, reminiscent of the pre-“crypto winter” surge in 2022.

Earnings Outlook

As we wrap up the fourth quarter, the S&P 500 is projected to achieve 4% earnings growth compared to the same period last year. Notably, the outlook for earnings growth in the current quarter remains positive, defying the usual downward revisions seen during this time.

In summary, February 2024 will be remembered as a month of remarkable achievements in the stock market. Investors remain cautiously optimistic, closely monitoring economic indicators and inflation trends. As we move forward, the resilience of both the S&P 500 and Nasdaq Composite provides hope for continued growth.


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