WESTJET $26.11 - Toronto symbol WJA

WESTJET $26.11 (Toronto symbol WJA; TSINetwork Rating: Extra Risk) (1-877-493- 7853; www.westjet.com; Shares outstanding: 129.4 million; Market cap: $3.3 billion; Dividend yield: 1.8%) reports that its earnings rose 11.3% in the three months ended December 31, 2013, to $67.8 million from $60.9 million a year earlier. Earnings per share gained 13.0%, to $0.52 from $0.46, on fewer shares outstanding.

Revenue increased 7.6%, to $926.4 million from $860.6 million.

Demand for the company’s flights remains high, and it continues to enter into new partnerships with other airlines.

The launch of its new Canadian regional airline, WestJet Encore, has also gone well. All of these strengths should help WestJet maintain growth in its revenue and profits.

The company has just raised its quarterly dividend by 20.0%, to $0.12 from $0.10. The shares now yield 1.8%.

WestJet is a buy.

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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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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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