Dear Pat: Can you advise on these two Canadian stocks that I have in my portfolio? Are they worth hanging onto for capital growth? Becker Milk and Norbord. Thanks.
Becker Milk, $8.40, symbol BEK.B on Toronto (Shares outstanding: 1.8 million; Market cap: $15.1 million), owns and manages 71 retail commercial properties with a total of 88 individual retail stores (most are single store sites, but some are multi-store plazas). One property is in metro Toronto, and the rest are in other parts of southern Ontario.
On January 31, 2009, the company had leased all 88 of its individual retail stores, as well as four residential sites to third parties. The residential sites are made up of apartments above the retail commercial sites. Becker has leased 62 stores to Mac’s Convenience Stores Inc. (a subsidiary of Alimentation Couche-Tard Inc., symbol ATD.B on Toronto), and the remaining 26 are leased to other tenants. In addition, the company is bearing the cost of five parcels of unoccupied land (one of which is being held for sale) and one vacant building.
Becker Milk pays a regular dividend of $0.30 a share twice yearly, for…
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