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Baytex Energy Corp. Message Board

  • chi134431 chi134431 Jun 3, 2011 11:02 AM Flag

    $56 invested in BGR pays $3.24

    BGR a blackrock closed end fund holding 40 oil co's sells at less than 2 times bookvalue.............while BTE sells for more than 5 times book........I owned 20,000 of shares of BTE bought at $4 to 12............sold all at $19........wish I had more faith, but mgmt KEPT SELLING STOCK and deluting earnings /share while mainting the div....................they should have BORROWED THE MONEY to buy more oil sands/fields at historic lows in interest rates ..the stock would have been over $120/share by now ..........imo

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    • odd way to look at BGR, the $56 and $3.24. It sells currently for $29 and pays $1.62.

      BGR's divvy has been mostly (90+%) short term capital gain, with only the remainder being ordinary income and return of capital.
      If all the companies that make up the etf turn tail and go down with the market, that makes supporting that div that much harder, since a lot of their top names don't even pay div's. IOW, they may have to resort to Return of Capital as the way to support that quarterly divvy in a down market, which is not a good way to get "paid".

      Good luck.

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