View Single Post
  #21  
Old 19-11-2006, 19:08
JayBee's Avatar
JayBee JayBee is offline
Registered User [1976]
Senior Elite Member
 
Join Date: Mar 2004
Location: cALIFORNIA, usa
Posts: 7,866
CNE on the rebound.

Canadian oil trusts got hammered in the first two weeks of the month on news that the govt. is pulling their tax-exempt status. However, that law change won't go into effect until 2011. In the meantime, after a 40% pullback, the Canroys started coming back this past week, rising even on the day oil dropped $2.50 per barrel. I bought in near the bottom, going with CNE because at the price I bought it for, the dividend is over 18%. At Friday's price, the dividend is still over 17%. The Canadian oil trusts are solid stocks, mostly paying in the 10% to 12% range on dividends. They are also big buyout candidates, now that the prices are so low.
__________________
LOS is warm, soft, smooth, and brown.
Reply With Quote