Hands down I like EIF (Exhcange Income Corp - TSX) which has recently converted to a corporation from an income trust. It pays $0.13 per month and is trading at $12-13 so yield is good. I live in Wpg and have an advantage of watching some of their operations and am impressed with the people involved. I have over 4,000 units and have a hard time finding much better but always looking. For me I am at my limit for this former trust.
When EIF started out as an income fund they 'aquired' Perimeter Air and quickly two competitors were either grounded or 'acquired'. The north was pretty much dominated by Perimeter and CalmAir. This year the acquired CalmAir too and are a huge operation in MB and the north overall. The first nations have heavily invested in the fund, now corp.
The timing always seems to work well for EIF. They purchased a US operation when our dollar was over $1 US. Of course the economic slow down has hurt manufacturing but that appears to be improving.
Again the people involved are names anyone from Wpg would recognize and admire for this business.
The move to become a corp well in advance of the looming 2011 tax change tells me they are well prepared. Also the dividends are more favourable for us investors from a tax perspective now.
I think this stock is undervalued and would not be surprised to see it climb over $16 in the new year.
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