Bought Some More Stock Today
Bought some stock in Pengrowth Energy Trust[PGH] today. Its a Canadian stock that pays out a strong 11.60% annual dividend on a monthly basis. The ex-dividend date is August 29th so I thought I’d get in before the cut-off date.
Since I think the US dollar is headed down in the long run, this is a good hedge against it while also getting a great dividend. There are a lot of canadian stocks that give out a good dividend. They’re kind of like REITS in the US. If they promise to pay out most of their profits as dividends, they aren’t subject to double taxation. They sometimes have the words “income fund” or “income trust” in their name.
Now, if I only had a million bucks, I’d be able to live off the dividends!
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August 24th, 2006 at 2:07 pm
How it works? Are they sending a check on monthly basis? Say, if I have 200 units, I’ll get monthly check around $44 (0.22/unit now)?