Can’t find Canadian Solar Inc on TSX?

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I noticed that this is a Canadian company but can’t find if on TSX to buy in CAD.
Found this listing on Nasdaq and priced in USD and due to 15% tax one has to pay on dividend of USD stocks (though this one doesn’t pay dividend but has exchange rate risk), keen to find if we can have CAD exposure.
Wanted your views if you guys follow this company and have analyzed their business and growth prospects.

Do you own this stock?

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Asked on January 21, 2021 10:53 pm
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Hi Shail,

You are correct in that Canadian Solar is not listed on the TSX Index. As such, you must buy it on the NASDAQ in US Dollars - you won't be able to find it in CAD. Of note, because it is headquartered in Canada had it paid a dividend, it would not have been subject to the 15% dividend witholding tax. The exchange on which it trades is irrelevant, it is the location of its head office that determines the country in which it originates and thus, the withholding tax.

We do quite like the company for exposure to solar. However, it has since run up from bottom level prices when it was quite cheap but still trades at reasonable valuations compared to others trading in the U.S. It is a leader in the space and should continue to do well under the new U.S. Administration. Revenue is expected to growth in the low teens, while EPS is expected to grow by 30% annually.

Solid company with a few tailwinds at its back currently.

Mat

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Posted by Mathieu Litalien
Answered on January 22, 2021 4:58 am