Retirees rely on dividends

Re: NDP misses merits of bank profits, Kelly Mcparland, Dec. 18

So companies that received federal aid like the CEWS subsidy are still paying out dividends to shareholders and some of these shareholders are well- paid CEOS. So what? I am a financial adviser with many retired clients who rely on dividends for their retirement income. You certainly can’t support yourself on a 0.5 per cent government bond. The 5.0 per cent dividend from CIBC is 10 times higher and tax advantaged to boot.

Not everyone is in the public service where generous pensions are guaranteed. So before decrying dividends, make sure that Mom and Dad don’t end up on welfare. With or without COVID- 19 my retired clients require an income and this stupid attack on dividends just because a few rich people along with our seniors are receiving them is just another bit of socialist claptrap.

Brian Forrest, Toronto