LEON’S FURNITURE LTD. $12.53 - Toronto symbol LNF

LEON’S FURNITURE LTD. $12.53 (Toronto symbol LNF; TSINetwork Rating: Average) (416-243-7880; www.leons.ca; Shares outstanding:
72.3 million; Market cap: $905.9 million; Dividend yield: 3.2%) saw its sales fall 4.3% in the latest quarter, to $174.4 million from $182.1 million a year earlier. Weaker consumer spending and a drop in new-housing starts held back sales. Earnings per share fell 4.0%, to $0.24 from $0.25.

Leon’s plans to speed up its expansion by opening roughly five new stores a year over the next five years. It is also renovating many of its existing stores.

The company is raising its quarterly dividend by 11.1% with the January 2012 payment, to $0.10 a share from $0.09. The new annual rate of $0.40 yields 3.2%.

Leon’s is still a hold.

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Blue chip stocks are big, well-established, dividend-paying corporations with strong business prospects. These are companies that also have sound management that should be able to make the right moves to keep competing successfully in a changing marketplace.

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Dividend stocks make cash payouts that serve as a way for companies to share the wealth they’ve accumulated. These payouts are drawn from earnings and cash flow and paid to the shareholders of the company. Typically, these dividends are paid quarterly, although they may be paid annually or even monthly as well.

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One of the sweetest and most profitable pleasures of successful investing is to buy high-quality “value stocks” (or stocks that are reasonably priced, if not cheap, in relation to its sales, earnings or assets), then hold on to them as mainstream investors recognize the value and push up the share price.

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