 On Friday February 7th Puget Power announced the closing of the sale of its core business at $30 per share. Regular readers of my blog will recall that I recommended a purchase of PSD in November of last year at $18. If one includes the $.25 dividend payment from Jan 16th, and the pro rata dividend of $.04 this transaction returns $30.29, or a profit of an impressive 68%.
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What I paid for it
$18.00
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What I like about it:
- Fair insulation from credit problems, and recession.
- Good dividend yield at 4.1% (distribution Dec 1).
- Company due to be purchased at $30 pending one final approval (this is the big one).
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