Friday, November 9, 2007

Spotlight on HTE


I've mentioned this one before. Harvest Energy Trust is a Canadian Trust. The Alberta tax initiative passed, so the dividend for this stock lowered from about .38 Canadian a share to .30. (Dividend is paid monthly). What's funny is, that with the weakening dollar, I actually get .32 US for this, while I was getting .36 US before. When this came out last night the stock was at $28.00. At that price, the dividend yield was still 12%!

Well, some people panicked today, between that news and the DOW going down, and the stock plummeted to $25.70. That makes the dividend yield on this over 15%!!

Is it at the low? I am not sure, option week is next week, so the market will still be volatile. I am guessing you will be able to purchase this somewhere between $22 and $25 sometime in the next week.

With that dividend yield, the price wont last long. I'm snatching some up with my IRA money, if that check ever gets here. ::)

Anyway, always do your due diligence, but when the dust settles, and the market heads back up, (which it always does eventually) this one will be back in the $27 to $30 dollar range, plus you will be getting an estimated dividend of $3.60 per year.

Here is a link to their dividend history.

Good Fortune!

Always perform your own due diligence before making any investment.

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