Actually haven't looked into MCAN too much, however quickly looking at the dividend, I'd be very cautious. Genworth however I've spent a decent amount of time looking into.
Really like Genworth's dividend. only 31% of free cash flows and 41% of earnings. 11 year dividend growth streak and 7.50% 5 year annual dividend growth rate. Over the last few months I think investors have started to identify the stock as a strong dividend option and its price is starting to rebound. It's lagging the market in terms of of recovery significantly, mostly with it being a financial stock with exposure to the housing market.
This is a weird position for companies like Genworth and MCAN as they rely almost exclusively on the Canadian housing market. With interest rates being this low, people are getting some very good opportunities to buy. Along with government CERB money, this may be artificially inflating the housing market. When money runs dry and mortgage deferrals end, there is a possibility the housing market could take a dip, and it would effect both these companies top and bottom lines significantly.
However, if we can get the economy rolling and people back to work efficiently, the Bank of Canada will more than likely keep interest rates low, spurring more potential buying along with new home construction.
My stance on both these companies right now would be cautiously optimistic. However, I'd probably be avoiding, or at least extremely cautious investing in MKP. The company has a dividend coverage ratio of only 1, indicating it's paying out essentially all its earnings towards the dividend. A dividend cut would not bode well for the company's stock price.