Fish On! Hooked on Highliner
Yesterday I made the decision to start a new position in Highliner. I have talked about how I think it’s a great buy and with the nod of one of my reader’s Cris, I decided to pull the trigger.
We bought 150 stocks for 2,052.95. $9.95 for the trade and each stock was $13.62. The yield on cost is 4.10% which is really high for a defensive stock. Highliner has raised it’s dividend for the past 9 years. Its quarterly payment will bring in $21.00 if the dividend stays at current levels. Unfortunately high liner doesn’t offer a drip program. Arggg. But I feel the potential is there for the stock to rebound. I love buying stocks at 52 week lows.
I also love to buy stocks we use. We have been eating high liner foods for years and their new pan seared fish is great! It’s always nice to preset the oven when I get home, have a shower and then throw in the fish for 20 minutes at 375 degrees and walk the dog. Set it and forget it!
I know the argument that right now people are going with fresh foods, no preservatives etc etc. Life’s busy and also fresh is more expensive. I think currently we are living in a time where everyone has money to spend. Seems like most people have pretty new cars and have easy credit. Well interest rates are rising, and Canadian’s have record amounts of household debt. I believe its a matter of time before people start eating the cheaper stuff again.
This purchase will add another $84.00 in yearly dividend’s for us. I don’t know how long of a hold this will be as I think the oceans are slowly getting fished out. I will hopefully watch this stock rebound and decide what to do then, right now though I’m hooked on highliner! Do you eat highliner products? What’s your favorite?
Have a great weekend, Cheers.