Updating Carfinco, Hecla Mining and Symantec

Article Excerpt

CARFINCO FINANCIAL $8.80 (Toronto symbol CFN; TSINetwork Rating: Speculative) (1-888-486-4356; www.carfinco.com; Shares outstanding: 26.5 million; Market cap: $232.9 million; Dividend yield: 3.4%) is down sharply since mid-January from $11.25 to today’s price. The company provides car loans to consumers who don’t meet the criteria of traditional lenders, like banks. In November 2014, Carfinco’s shareholders voted to accept a friendly $11.25-a-share takeover bid from Spain’s Banco Santander SA (ADR symbol SAN on New York). The company’s directors and executive officers, who collectively own a 12.9% stake, also agreed to support the sale. But neither Carfinco nor Santander have announced anything about the $268-million deal, which was expected to close by the end of 2014 or early this year. Santander has been in the news lately with the appointment of a new executive chairman, a share issue to raise 7.5 billion euros ($10.4 billion Canadian) to shore up its capital base and a dividend cut. Carfinco recently cut its monthly dividend by…

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