TORSTAR $7.59 - Toronto symbol TS.B

TORSTAR $7.59 (Toronto symbol TS.B; Shares outstanding: 79.9 million; Market cap: $608.2 million; TSINetwork Rating: Average; Dividend yield: 6.9%; www.torstar.com) reports that in the quarter ended June 30, 2014, revenue fell 7.4%, to $225.6 million from $243.6 million. Earnings per share fell 4.8%, to $0.20 from $0.21.

Torstar is still deciding what to do with the $455 million in cash from the sale of its Harlequin book-publishing subsidiary.

The company will use some of the funds to pay down its $180.8-million debt. But with sales and earnings still weakening as the slow economy hurts advertising revenue at its newspapers, it’s unlikely to reinvest much of the remaining cash in its newspaper operations. Instead, Torstar will probably focus on businesses with more growth potential, including web sites it owns, or perhaps new acquisitions.

Torstar is still 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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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.

Value Stocks

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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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