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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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Canadian Business Insolvencies Double in January

 

The Canadian business landscape faced a significant upheaval in January as business insolvencies more than doubled compared to the same period last year. This surge in insolvencies also surpassed pre-pandemic levels for the month.

The Office of the Superintendent of Bankruptcy reported 759 business insolvencies in January, marking a 42.4% increase from December and a staggering 129.3% rise from January 2023. To put this into perspective, back in January 2020—before the pandemic began—there were only 308 business insolvencies.

These business insolvencies encompass both bankruptcies and proposals (where some or all of the debt is paid back). The situation was further complicated by the $60,000 Canada Emergency Business Account loans, which were distributed to nearly 900,000 businesses and non-profit organizations to help them weather the pandemic storm. Up to one-third of this loan could be forgiven if the remaining two-thirds were repaid by January 18. Otherwise, the debt transformed into a three-year loan with a five percent annual interest rate. Businesses were also given the option to refinance their loans before the end of March and still qualify for partial forgiveness.

However, many businesses missed the January deadline due to other pandemic-related debts. The impact of these insolvencies extends beyond the numbers reported, as numerous small businesses simply shut their doors without formally filing for insolvency. In the words of Simon Gaudreault, Chief Economist and Vice-President of Research at the Canadian Federation of Independent Business (CFIB), “Insolvencies are just the tip of the iceberg.”

The sectors hit hardest by this surge in insolvencies include accommodation and food services, retail trade, and construction. While business bankruptcies rose significantly year-over-year, proposals also saw an increase. Consumer insolvencies followed suit, growing by 23.5% compared to the previous year but remaining lower than in January 2020.

As the Canadian economy grapples with pandemic debt and higher interest rates, policymakers and business owners alike will closely monitor the situation. The real toll on businesses may be even greater than the reported numbers, emphasizing the need for continued support and vigilance.


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