Not all stocks are going down. Dividend stocks are stealthily rising – some of them, anyway. Investors apparently want to own companies that send them cheques every three months or so. Stocks that might pay dividends are also doing relatively well. You wonder why more companies don’t.
Take Mainstreet Equity, (MEQ-T) a real estate concern out of Calgary that focuses on smaller rental properties. Buying back more stock isn’t really an option. CEO Bob Dhillon owns about 40 per cent of it and the float is already pretty thin. Mr. Dhillon doesn’t rule out a dividend, but he seems reluctant to go in that direction now (technically, it’s the board’s decision, but he’s chairman and major shareholder so he has veto power). He wants to acquire more properties when prices are low and financing is cheap. He says he can borrow five-year money for less than 3 per cent and prices are softening.
Source: Globe and Mail
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