Marsulex Inc (MLX.TO)

Environmental compliance company. It’s a way top play the commodities over time. Not as susceptible to volatility in the commodity. Attractive dividend. It’s under followed by analysts. 6.25% dividend is sustainable. Perhaps even some room to raise it.

Provide environmental services in the recovery of sulphur and does a lot of work with refineries. Outlook is quite good as refinery regulations just increased. Market is a little bit concerned that Shell may want to close their Montreal refinery where they are participants but this is not a big concern. 7.1% yield.

Industrial services for refineries by helping to remove sulphur, dealing with spent acids, cutting out petroleum coke, etc. Also sell chemicals to water treatment facilities. Markets sulphur-based products in Atlantic Canada. Long-term contracts. Refineries are processing more heavy oil, which helps them. Recently increased dividends.