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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks
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To: David Culver who wrote (1589)9/30/2001 5:42:39 PM
From: stan_hughes   of 11633
 
AY official monthly rate = 20 cents as you say. Anything else cannot be relied upon, although even the 20 cents isn't cast in stone if the cash flows don't warrant maintaining it.

One should always be wary of the lure of high apparent yields since capital erosion can more than offset them. Right now the market is telling you the payout rates on trusts in general won't hold up much longer.

I'll say one thing about AY - they stickhandled the trust away from a gas weighting to an oil weighting at a pretty good time. At a minimum, that has to make you feel good about the competence of management and makes AY more than just another play on energy.

Will the 20 cent minimum hold on AY? Beats me, but you probably have a better chance here than you do with some of the others. A reasonable risk IMO, just don't shoot all your bullets at once in case something goes wrong and it goes lower.
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