PASON SYSTEMS $19.46 (Toronto symbol PSI; TSINetwork Rating: Speculative) (403-301-3400; www.pason.com; Shares outstanding: 83.6 million; Market cap: $1.6 billion; Dividend yield: 3.5%) rents equipment for monitoring and managing land-based oil rigs. It also provides communication systems that clients use to remotely collect data from their drilling operations.
Pason reduced its capital spending by 46.3% this year, to $65 million from $121 million in 2014. It has also cut its staff by 20%.
Meanwhile, the company’s balance sheet remains strong, with cash of $198.1 million, or $2.37 a share, and no debt. The stock yields a high 3.5%, and the dividend appears sustainable.
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