Churchill wins new contracts

Article Excerpt

THE CHURCHILL CORP. $13.98 (Toronto symbol CUQ: TSINetwork Rating: Speculative) (780-454-3667; www.churchillcorporation.com; Shares outstanding: 24.6 million; Market cap: $338.2 million; Dividend yield: 3.4%) continues to win new contracts for its Stuart Olson Dominion Construction division. The latest is a $98-million deal to build an office tower in B.C. The company expects to begin construction in March 2012, and should finish the building in April 2015. Churchill has also won a $60-million contract to renovate the Tache Hall Music Art and Theatre complex for the University of Manitoba. The company plans to start work in October 2011, and complete the project by July 2014. To put these deals in perspective, Churchill’s total backlog stood at $1.7 billion on June 30, 2011. Churchill Corp. is still a buy. buy…