Remember that the Canroys ,like PGH and PWE face a change in the Canadian Tax laws at the end of the year, losing them their generous tax loophole. I have backed my holdings out of the Canroys until after New Years to get past the possible price fluctuations likely to come with the change in their cash positions for payouts resulting from the tax law changes. <br /> <br /> PBT is an American entity and does not face that particular gyration. It might be that money seeking refuge from the Canroy tax law changes seeks out US corps like PBT. <br /> <br /> Besides, the current payout yield is pretty nice, given the current interest and dividend levels out there.