Pengrowth converts

Article Excerpt

PENGROWTH ENERGY CORP. $12.66 (Toronto symbol PGF; Shares outstanding: 320.1 million; Market cap: $4.1 billion; TSINetwork Rating: Average; Dividend yield: 6.7%; is the new name for Pengrowth Energy Trust after it converted to a dividend-paying corporation on January 1, 2011. Pengrowth has large tax pools it can use to offset the new taxes. That will let it keep its monthly payout at $0.07 a share, for an annualized yield of 6.6%. The monthly payout will be in the form of a dividend. That means investors who hold Pengrowth outside an RRSP will benefit from the dividend tax credit. Pengrowth is still a buy. buy…

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