8.5% dividend. He would say it represents a note of caution. Thinks they will be able to ultimately maintain their dividend but it will be close. Their old coal fired generation will be retired and they will be forced to take on new methods of generation. Would not accumulate but hold for the dividend. Watch it with a negative bias.
Initial reaction to today’s news is not all that much of a surprise. Fairfax has made a bid for the company. He says if they had declared a $1 dividend at $100 share price they would have protected their share price to some extent. It could get taken private from here. There is a market for the device and he thinks they have made some great strides.
He is quite positive on the fertilizer producers. This has been the more expensive of the two. The dust has settled after the attempted takeover. The dividend increase has caught his eye. He has seen a big ramp on the dividend so is looking to accumulate. Owns POT-T but is looking seriously at this one too.
Has been a very positive story over the summer. Being a corp. opened them up to a bigger US investor base. They have so many opportunities to enter into new projects. There is an increasing production curve so there has to be a way to get it to market. A great story going forward. Had a good run so you might want to watch to see if it gives some of that back.
Markets. Continues to be cautiously optimistic on the markets and economy. We are finally reaching the acceleration point where the economy starts to sustain itself. He thinks with stimulus restrained it will continue to grow slowly. The economy is doing quite well even though the labour market is slack. You should have a good solid portfolio of dividend paying stocks.