TORSTAR $1.64 (Toronto symbol TS.B; Shares outstanding: 79.9 million; Market cap: $129.9 million; TSINetwork Rating: Average; Dividend yield: 15.9%; www.torstar.com) has invested a lot of time and money in the past decade or more looking for ways to cut its reliance on shrinking print ad revenue and to build a source of online profit.
This includes last year’s $178 million purchase of 56% of VerticalScope—a firm that operates 600 online forums and a variety of websites. Torstar also launched a digital version of The Toronto Star, its flagship newspaper, for tablet computers.
So far, the company has had little success, and continues to lose money. In the first quarter of 2016, it lost $0.40 a share, compared to a profit of $0.02 a year earlier. Revenue plunged 9.1%, to $174.8 million from $192.3 million.
A turnaround is still a possibility. The Toronto Star is a great brand name in Toronto and other areas, and VerticalScope has lots of room for growth. But a return to consistent profitability for Torstar is uncertain. Meanwhile, it will almost certainly cut its $0.26-a-share dividend, which yields a high 15.9%.
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Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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