The Globe and Mail attempts to identify companies with attractive dividends and healthy payout ratios, but also with momentum and a realistic chance of growth ahead, in its Friday edition. The Globe's Simon Avery writes in the Number Cruncher column that CPMS Morningstar consultant Sudip Ghosh helped search out potential winners. Mr. Ghosh used return on equity (ROE) and analyst revisions over the past three months to get a read on each companies' chances of good growth and momentum. Mr. Ghosh started with the top 30th percentile of stocks in the CPMS database and then restricted his search to companies with a market capitalization of greater than $300-million. His other criteria included a trailing dividend yield in excess of 2 per cent, a payout ratio based on earnings per share of below 80 per cent and a payout ratio based on cash flow of less than 50 per cent. To make the cut, companies also had to be generating ROE in excess of 10 per cent. Analyst revisions over the last three months of both earnings and cash flow could be no worse than a 5-per-cent reduction. Stocks with room to grow are Industrial Alliance Insurance and Financial Services, Amia, Rogers Communications, AutoCanada and CanElson Drilling.