high dividend

Pat McKeough responds to many requests from members of his Inner Circle for specific advice on stocks to buy as well as questions on investment strategy and the economy. Every week, his comments and recommendations on the most intriguing questions of the past week go out to all Inner Circle members. And each week, we offer you one of the highlights from these Q&A sessions. While we reserve our buy-hold-sell advice for Inner Circle members, these excerpts provide a great deal of information and analysis on stocks we’ve covered for members of Pat’s Inner Circle....

PENN WEST PETROLEUM (Toronto symbol PWT; www.pennwest.com) is one of North America’s largest oil and gas producers. Its output is 63% oil and 37% gas....

Pat McKeough responds to many requests from members of his Inner Circle for specific advice on specific stocks and other investments as well as questions on investment strategy and the economy. Every week, his comments and recommendations on the most intriguing questions of the past week go out to all Inner Circle members. And each week, we offer you one of the highlights from these Q&A sessions. While we reserve our buy-hold-sell advice for Inner Circle members, these excerpts provide a great deal of information and analysis on stocks we’ve covered for members of Pat’s Inner Circle....

PEYTO EXPLORATION & DEVELOPMENT CORP. $28.10 (Toronto symbol PEY; Shares outstanding: 148.5 million; Market cap: $4.2 billion; TSINetwork Rating: Extra Risk; Dividend yield: 3.4%; www.peyto.com) produces and explores for oil and natural gas in Alberta....

ING Global Equity Dividend and Premium Opportunity Fund, $9.35, symbol IGD on New York (Shares outstanding: 97.5 million; Market cap: $911.6 million; www.ingfunds.com), is a closed-end fund that holds 130 global common stocks with a history of high dividend yields. The fund currently has 41.9% of its assets in U.S. stocks, with Japan next at 8.7%. Its top holdings are Metlife, Pfizer, Exxon Mobil, General Electric, Royal Dutch Shell, Eli Lilly & Co., Novartis AG, Freeport-McMoran Copper & Gold, Microsoft and St. Jude Medical. ING Global Equity Dividend and Premium Opportunity Fund trades at a 4.3% discount to its net asset value and yields a high 10.8%. The fund’s MER is 1.18%....

CRESCENT POINT ENERGY CORP. (Toronto symbol CPG; www.crescentpointenergy.com) produces oil and natural gas in western Canada. Its output is weighted 90% toward oil and 10% to gas....

PENN WEST PETROLEUM $11.38 (Toronto symbol PWT; Shares outstanding: 485.0 million; Market cap: $5.7 billion; TSINetwork Rating: Average; Dividend yield: 5.1%) is moving to shore up its finances and boost its value after it appointed Rick George as chairman and Allan Markin as vice-chairman.

George played a key role in building Suncor Energy, while Markin was important to the growth of Canadian Natural Resources.

Penn West already plans to cut its staff by 10% and reduce its quarterly dividend by 48.1%, to $0.14 from $0.27. The new rate will give it a 4.9% yield, based on today’s share price.
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PENN WEST PETROLEUM $11.38 (Toronto symbol PWT; Shares outstanding: 485.0 million; Market cap: $5.7 billion; TSINetwork Rating: Average; Dividend yield: 5.1%) is moving to shore up its finances and boost its value after it appointed Rick George as chairman and Allan Markin as vice-chairman.

George played a key role in building Suncor Energy, while Markin was important to the growth of Canadian Natural Resources.

Penn West already plans to cut its staff by 10% and reduce its quarterly dividend by 48.1%, to $0.14 from $0.27....

ROYAL BANK OF CANADA (Toronto symbol RY; www.rbc.com) is Canada’s largest bank, with $867.5 billion of assets. Royal recently paid $3.7 billion for Ally Financial’s Canadian operations. This business mainly provides car loans through over 1,600 dealerships across the country. It also offers no-fee savings accounts and consumer and business loans....

Mandalay Resources, $0.81, symbol MND on Toronto (Shares outstanding: 325.5 million; Market cap: $266.9 million, www.mandalayresources.com), aims to keep acquiring what it sees as undervalued mining assets. It then aims to boost their cash flow and use these funds to pay a high dividend and finance exploration and development. Right now, Mandalay has two producing projects: the Costerfield gold-antimony mine in Australia and the Cerro Bayo silver-gold mine in Chile. Its main exploration-stage project is the La Quebrada copper-silver project, also in Chile. In the first quarter of 2013, Costerfield produced 6,203 ounces of gold and 766 tonnes of antimony. Cerro Bayo produced 611,441 ounces of silver and 4,432 ounces of gold....