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Strategies & Market Trends : Dividend investing for retirement
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To: Max Fletcher who wrote (9875)9/27/2011 4:05:53 PM
From: zen_lunatic420  Read Replies (1) of 34328
 
PBN.to (PBKEF.pk): This oil stock pays an $0.08 monthly dividend, giving it a +10% dividend yield at it's current prices below $9.60. The stock has been beaten down because weather in western Canada delayed their drilling program this summer and production dropped last quarter, but recent corporate presentations indicate they are back on track now with 17 rigs drilling on their expansive proven reserves in the Bakken and Cardium formations in western Canada, which produce light sweet crude (this is not a tar sands company).

After last quarter's report a CIBC analyst speculated that PBN might need to cut their dividend and/or CAPEX budget and the stock has suffered a major decline since then, but the company hasn't said any cut backs will need to be made.....so I believe the jury is still out on this. What's more is they've actually added substantially to their acreage in some emerging oil plays in western Canada....and will be drilling a few wells in their new acreage this fall....which could add substantially to their proven and provable reserves.

I'm not a big dividend investor, but really like this stock's chances to rebound back up over $20 over the next few months as they get their drilling and development program back on target.....and the dividend provides a nice yield while waiting it out.

There's a lot more to this story, so do your own DD, but I like it and own it and thought it might interest some of you here.
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