With the market still currently in "bear" mode, I've continued to hunt for high dividend yielding stocks. I came across Pengrowth Energy Trust, which has been in business for 19 years and engages in acquisition ownership, and management of working interests and royalty interests in oil and natural gas properties in Canada.
What makes this stock attractive is that it currently pays $0.22/share on a monthly basis. That's over 15% annual return on dividends alone! Just like my posting about Compania Cervecerias Unidas (NYSE: CU), Pengrowth Energy Trust (NYSE: PGH) has a stock price that is depressed because of stock market momentum. With oil prices soaring, alternative sources of energy gain value as demand increases. So in my opinion, any sources of energy except oil have a chance to gain market share in the energy industry.
As long as I hold my stock positions, I like the fact that I will be paid $0.22/share on a montly basis (I own 500 shares so my income just went up $110 per month). Of course I'm never going to realize these gains since I'm enrolling in the Dividend Re-Invest Plan (DRIP). I'll blog about DRIP later.
=)
**UPDATE**
I finally blogged about DRIP here.
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