What is the dividend status on FDG? I could not find any easily retrievable data from my usual internet sites. Thanks.
divvy history:
http://finance.yahoo.com/q/hp?s=FDG&a=04&b=3&c=2002&d=05&e=4&f=2008&g=v
as you can see, the divvy recently took a hit.
however, it's only recently the met coal the FDG sells has increased from approx 95/tonnes up to above 300/tonne. Estimates are above 400 while the metrics that many of the analysts use are simply outdated.
there were a few analyst upgrades, but I don't have access to the reports.... not many big firms that I can access follow Canadian trusts
that said, here is an article:
http://biz.yahoo.com/iw/080421/0389082.html
>>>Distributions declared for the first quarter of 2008 reflect expectations for higher coal prices during the remainder of 2008.<<<
the reason for the dissapointing quarter and how the company counteracted the problem summed up in one paragraph:
>>>"The number of trains we receive directly impacts our results and year-to-date rail shipments are falling short of our requirements. Looking ahead to the 2008 coal year, the acute shortage of supply has enabled us to settle a majority of our contracts for all grades of our coal at pricing in line with our major Australian competitors."<<<
and info on the pricing (which directly affects dividend amounts) of FDG's products:
>>>
Elk Valley Coal has completed negotiations for more than two-thirds of its anticipated coal sales for the 2008 coal year commencing April 1, 2008 with its highest quality coal products being priced at or above US$300 per tonne. If the remainder of the contracts are settled on similar terms, taking into account all ranges of coal products, including thermal and PCI coals, and including the impact of carryover tonnage from the 2007 coal year, the average coal price for the 2008 calendar year is forecast to be in the range of US$195 to US$205 per tonne. Based on these prices, transportation costs for the 2008 calendar year are expected to be in the range of $42 to $44 per tonne. The substantial increase in coal prices over the 2007 coal year reflects the extreme tightness in the metallurgical coal market. Changes in economic conditions, especially in the U.S., China or India, or in the global supply of metallurgical coal could cause a decrease in prices for the 2009 coal year.<<<
I personally don't believe China or India will be slowing before 2009
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