I don't see what constitutes a "beating", particularly when you count the dividends paid out since the last share price peak back in Feb. '13 (better yet on a DRIP with discount at lower market cost).
Recent share issuance was less than a year ago at $50 Canadian per share, so a couple dividends on top of $8+ per share in that timeframe equates to about a 20% return in a very short relative period of time.
I don't think that you're allowing for currency fluctuations, either (C$ vs. US$). P/E looks reasonable, just need earnings in line. August numbers will paint a clearer picture. I think you might even see a dividend increase with the upcoming numbers.