Hi Pat: This is my first time asking a question. What is your opinion on the following as an investment: Income Streams III Corp equity dividend shares (STQ.E)? Thank you.
Income Streams III Corp equity dividend shares, $7.28, symbol STQ.E on Toronto; (Units outstanding: 1.4 million; Market cap: $10.2 million; www.quadravest.com), is a split-share company with two types of shares: equity dividend (symbol STQ.E on Toronto) and capital yield (symbol STQ on Toronto).
Split-share companies typically issue two classes of shares. Usually the capital shares get all or most of the capital gains and losses, and the preferred shares (or equity dividend shares in the case of Income Streams III Corp) get most of the dividend income.
In the case of Income Streams III Corp, the equity dividend shares receive a fixed monthly dividend of $0.0875 a share ($1.05 annually). That gives them a 14.4% yield.
The dividend income that the company receives from its portfolio isn’t enough to pay equity-dividend-share dividends and management expenses in addition to providing a return for the capital shares. To make up the difference, the company has to make a profit by trading its portfolio. It…
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