I believe they will hit their number. On a side note, NYT had an article about China jumping in the world defense market with high end equipment and was able to sell Turkey a missile defense system. Now what is interesting, is that Turkey is NATO and the American supplier was under bid by something like $3B.
Way to go Turkey.
OGE's stake will be less than CNP, however they will have equal management. Speaking of dividends we should see an announcement soon. Will it be 3 years in a row for 5% or better? GL
Once again shareholder services sent out a letter from Malon Wilkus which clearly stated the share repurchase program/dividend situation. It is dated 11/8/13. For those who want to know "where is the dividend" I suggest you got to the website or check your mail.
From the letter, 2014 will probably be another year without a divvy and if something changes, they will notify the shareholder. GL
The purpose of the letter is to provide notice required by law that we may be repurchasing additional shares over the next 6 months. The program extends through 2014, so we may provide additional notice of further purchases during this period.
For some reason Fidelity has TE rated with a Very Bullish rating. The market has been punishing it along with other utilities recently. TE at this price has a high dividend (5.4%) compared to its peers. Also, down 2.6% YTD which is not too bad, but down is down. Hopefully the rate increase will give TE some cushion for their service territory requirements and maintain the dividend. February is around the corner and I expect .88 to remain the same, however their payout is 105% and a cut could occur. Hoping it is not another EXC/GXP. GL
From my end, the pound has recovered from $1.54 to $1.60. I recently worked out my UU holdings cost from initial purchase in 2005. And determined yield and payout in pounds to dollar for each year. Best years where 2007 & 2008, over 8%. And the pound was 1.98 and $1.92. Worst was 2012. I picked up some shares recently to round off. I had an odd ball number after reverse spilt, 17:22 because of the return of capital special payment of $6.2641 in 2008. Also decided to pickup some Reckitt B the same day. Keeping an eye on Pennon and Severn Trent. Thanks for the information. Cheers !
I reduced original cost in my accounting since it was a true ROC w/share reduction. Since it was held in IRA, it was not reportable.
FYI - Brokerage statement listed it as a dividend.
Utilities have improved recently because of no action by Fed last week. However, TEG at one time was shorted over 10%, Wall Street punished it to the low 20s in early 2009. Luckily it did not cut the dividend and those shorts had to pay out. Speaking of dividends, it has NOT change since 2/17/09. I remembered that they did a head fake big time. They raised the dividend by 4 cents and 2 days later announced a dismal earnings report and poor guidance. The sharks came in and punished them big time.
A little history. Now hopefully to the future this gas strategy will play out and payout !! Good Luck and welcome aboard the TEG train.
Before I replied, I did a search on the web and in 2008 there was some discussions on how to treat the distribution. Most of the responses were to book it as a ROC and pay capital gains tax if any generated. As you and I went back to our statements, I can see why the confusion. Many brokerages reported it as dividend income. As did ours. I guess Its up to you if you want reduce or not. Nothing easy. Regards
I was revisiting CAG today. I was a holder from 2002-2005. In at $24 and out $26 after 3yrs. Looking at it because of the private label buy. Need to do more HW, but I think your input is dead on. Maybe they will do a Sara Lee and spin-off/divest down the road. Something needs to be done to get the stock price moving!!
Yes, bonds recovered and HY stocks as well. I was hoping to reload on TICC in low 9s. Now we are above 10.
Lets hope the dividend remains intact and a positive Q report.
Reckitt Benckiser just had a good pop. Strong revenue and talk of divesting pharma company (9%). Re-inventing themselves as UL is attempting to do. RBGLY ADR is trading 5:1, meaning 5 adrs equals 1 ordinary. Only 3% is in food, French's mustard, Frank's hot sauce & Cattlemen's BQ. Any thoughts? TIA
CNBC Talking Head mentioned that the Cooper merger has NOT been factored in. Expects this to go higher with a rebound in Europe.
On a side note, I just noticed that my broker reset my cost to the time when ETN new shares were issued.
Yes coal gasification has come along way and in some circumstances it does make sense. The problem is expense compared to other alternatives/sources in the ever shifting market place for energy. For example there is a large plant that is being built in MS and it has become a bloated nightmare for Southern. They are scaling it like 5X. Nobody has built one this large before.
I subscribe to a mutual fund newsletter. In the Nov issue they have downgraded the utility sector funds to ok to sell because of what you mentioned, solar technology is getting more accessible and less costly to the average joe to own. They are predicting that the enticing dividends that UTEs are paying are more likely to diminish. Service territories or their monopoly, will see internal revenue erosion because businesses and households will make their own power plant with either solar or fuel cell tech. What this analyst left out is the merger factor and those utilities that are running smooth and running with the trends.
Getting back to TE, as I posted before, this acquisition is needed and hopefully they can leverage it to improve their bottom line and ROI. As investors in utilities, we need to take a closer look at their business plans. TE compared to my other utes, TEG, DUK, VVC, OKE, OGE, & CNP seems to be the weakest, but has the highest current yield.
On a side note, the UK power situation is one to watch for the opposite reasons.