Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, May 13, 2011

Article Excerpt

YAMANA GOLD, $11.46, symbol YRI on Toronto, has raised its quarterly dividend by 50%, to $0.045 a share, from $0.03 a share. This is the second time this year that the company has raised its payout: it increased its quarterly dividend by 50%, to $0.03 from $0.02, with the January 2011 payment. The new rate gives the shares a 1.6% yield. That’s a high dividend rate for a gold stock. By contrast, Barrick Gold yields 1.1%, Newmont Mining yields 1.5% and Goldcorp yields 0.9%. Yamana is also increasing its exploration budget. It will spend $105 million on exploration in 2011, up 23.5% from $85 million in 2010. Yamana expects to keep raising this spending in the following years. It could spend as much as $125 million on exploration in 2012. The company’s rising exploration spending is helping it quickly add to its production. By 2013, it expects to produce 70% more gold than it did in 2010. Yamana Gold is still a buy. TOROMONT…