Rogers Sugar Income Fund (C-RSI) - In the News
Globe says Schwartz sweet on Rogers Sugar
2009-12-03 06:25 MT - In the News
Shares issued 87,327,887
RSI.UN Close 2009-12-02 C$ 4.25
The Globe and Mail reports in its Thursday, Dec. 3, edition that Baskin Financial portfolio manager Barry Schwartz likes Rogers Sugar Income Fund. Jillian Glickman writes in The Globe's BNN Market Call column that Rogers Sugar Income Fund units retreated a nickel to finish Wednesday in Toronto at $4.25. The units have a 52-week range of $2.84 to $4.43. Mr. Schwartz says: "All the stars aligned for Rogers Sugar in 2009. The company benefited from high sugar prices, low natural gas input costs, flawless operating performance and the ability to export sugar to the U.S. Rogers pays a 10.7-per-cent yield with a sustainable payout ratio of 70 per cent." In his general outlook Mr. Schwartz says he expects modest gains from the TSX index in 2010. "Forward valuations still look reasonable when compared to historical multiples. Look for defensive dividend paying equities to outperform as investors trim their riskier cyclical names which have risen too high, too fast. Bonds with maturities of five years or longer may have a negative return next year as interest rates start to rise. Canadian investors should avoid making foreign equity purchases as the Canadian dollar will likely trend above par."
