Topic: Dividend Stocks

The Successful Investor Hotline – Friday, April 11, 2008

Article Excerpt

FORDING CANADIAN COAL TRUST $62.31, Toronto symbol FDG.UN, rose 10% this week after South Korean steelmaker Posco agreed to pay $308 U.S. a tonne for coal from BHP Billiton in the coal year that began on April 1, 2008. That’s 210% more than the industry benchmark price of $98 U.S. in the prior year. Fording is still negotiating new prices with its customers. Higher coal prices will help it offset rising labour, transportation and other costs. It should also let Fording increase its current quarterly distribution of $0.50 a unit, which implies an annual yield of 3.2%. Fording is still a buy for aggressive investors. TECK COMINCO LTD. $46.61, Toronto symbol TCK.B, owns 19.95% of Fording as well as 40% of Fording’s main asset, the Elk Valley Coal Partnership (which gives Teck a 52% economic interest in Elk Valley). Coal now accounts for 20% of Teck’s revenue, and the likelihood of higher coal prices for Fording pushed Teck’s stock up 6% this…

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torstar, toronto, petro canada, new york, inc, canadian, teck cominco ltd, pension plan, merger, fording canadian coal, coal trust, canadian coal trust, Fording Canadian Coal Trust, thomson reuters, teck cominco, petro-canada, BCE, agrium, bonds, takeover, mortgages, gold.

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