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Strategies & Market Trends : Value Investing
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To: Ken Ludwig who wrote (39458)9/28/2010 3:28:47 PM
From: E_K_S  Read Replies (1) of 78592
 
Hi Ken -

Re: CONSUMERS WATERHT UT (CSUWF.PK)
Flaherty & Crumrine Preferred Income Fund Inc. (PFD)

CSUWF.PK is the U.S. pink sheet for the Toronto exchange listed company. It is thinly traded on the pink sheets but does trade some volume on the Toronto Exchange.

The stock went ex-dividend today at $0.054.

I started a small position today in the company basically looking for the stock to trade eventually up to the $6.48/share debenture conversion price. I am looking strictly for the monthly yield.

I sold my Flaherty & Crumrine Preferred Income Fund Inc. (PFD) booking my 9% profit which I originally acquired May 2010.

At the current dividend rate of $0.054/month their payout ratio is 52% which make their dividend safe until they roll over their LT debt in 2013 (27 months). Their smart meter acquisition s/b accretive to earnings next year and if they can book some new growth in this area it may help the stock price get closer to the $6.48/share number.

This is a small bet which I plan to hold for at least 24 months.

EKS
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