Likes it for it’s high yield. High yield is >3%. They are quire levered to the price of steel. The dividend is reasonably safe and that’s why it’s in his portfolio. He hasn’t added to it lately. It is a half position.
Recently re-invested in. In 2009 they shocked the street with their second equity issue. They are a global leader that disappointed the market with the raising of equity. He accumulated a half position when it went under $19. The time to buy these types of companies is when no one likes them. They have a capital base that should withstand pressures.
It’s a dividend payer. For years it was a consumer of capital but they have paid it back over the last few years. Companies that pay dividends are rewarded well. He owns Rogers as well.
Likes – it’s a full position. It is a communications pipeline. Done a great job of returning capital to shareholders. Great cash flow. It’s sleepy but it pays a nice dividend. It’s an ok buy in this range. Their wireless business is ok and they are smart.
In Client accounts and he keeps looking at it for the funds. It’s a great place to be for the investment. Rail business is slow but steady margins. Huge backlog. The wild card is the aerospace business, but it will come back. Once they announce the ‘C’ series the stock should move. Longer term it is something to look at.
Moves up and down with the gold price. With hedge book gone it appeals to a whole new set of purchasers. He owns Gold Corp. Higher gold prices’ earnings would be pumped back into business or into dividends.
N.A. economy continues to grow. This has been a great company. Year after year of raising dividend. Core holding in portfolios. CP is only in private portfolios.
Dividend can be sustained for a while as we move into 2011. High yield (10%). If they drop it down and you then get the dividend tax credit it is back again.
Long-term hold for his firm. Low dividend paying stock with the potential to be a high dividend stock if gold prices sustain their current levels. Dividend can certainly go up if gold reaches $1300 or $1400. They have a 15% growth profile without significant property acquisition.
(Top Pick Feb 25’09, Up 24%) Still likes it, but it doesn’t meet the dividend test. They are doing everything that they said they would do. All in Canada. Their KSM deposit is Canada’s largest ore body find of gold. They company is for sale. They said they will never build a mine. They are doing infill drilling to build a stronger resource base.