Pat: May I get your advice on Cellcom Israel Ltd.? The company is the leading cellular provider in Israel and has an unusually high dividend yield. Do you recommend the shares as a good income investment? Thanks.
Cellcom Israel (ADR), $26.07, symbol CEL on New York (Shares outstanding: 98.4 million; Market cap: $2.6 billion), is the leading Israeli cellular provider. Established in 1994, Cellcom provides its roughly 3.313 million subscribers (as of March 31, 2010) with a range of services, including cellular and land-line telephones, and roaming services (both for its clients when they’re abroad and for tourists in Israel). It also provides downloads, including music, video and mobile-office applications.
In the three months ended March 31, 2010, Cellcom’s earnings fell 9%, to $85 million (all amounts in U.S. dollars), or $0.85 a share. Its revenue rose 1.2%, to $426 million.
Cellcom trades at 7.7 times its earnings, based on the latest quarter. It also yields a very high 12.8%. However, its earnings growth, and the cash flow it needs to pay that high dividend, could slow as a result of regulatory changes in the Israeli cellphone market.
The Israel Ministry of Communications has proposed an 84%…
Privacy Policy and Terms of Use
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Changes to this Policy
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