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I had two dividend picks (and one related) dividend pick for January 2012. Both picks, as expected are flying high currently.
See the links below to read those articles:
Rentech Nitrogen Partners, ticker symbol RNF was my first dividend pick for January. I said it was a steal at 19 dollars a share and ride to 30 and beyond, along with a related nitrogen stock, UAN. UAN has not grown as fast as RNF, but they have gone from 28 a share when I reported this to over 30 a share currently. However RNF has really taken off, breaking the 25 dollar barrier today. During this time, UAN has also announced a dividend payout of just under 60 cents a share for this quarter. This is quite a healthy payout for a new stock. I expect the same type of announcement from RNF in the near future, which will only send this stock even higher! Cheap natural gas prices and high oil prices will also continue to support a rising share price for RNF.
Hercules Technology Growth Capital – HTGC was the Business Development Company that I highlighted a short time ago. The stock had a big dip into the 9.50-9.70 range just two weeks ago based on the company issuing 5 million more shares of stock to boost their abilities to finance more small companies. I said don’t let this scare you on this dividend pick, as the book value for the company was still over 10.50 a share, and there would be no reason they wouldn’t be able to continue paying their 22 cent a quarter dividend. Small businesses are continuing to grow here in America, don’t always believe what you hear on the news. Along with that, HTGC is up to nearly 11 dollars a share. This is where the stock should be, now sit back and collect your healthy dividend or flip it for a quick 12-15% gain.
Check back again soon for the dividend picks for February 2012.
Disclosure: I own UAN, RNF, and HTGC. I am long UAN and RNF, though I am currently evaluating my position on HTGC.
Update on Wolfey’s dividend picks was originally written on February 3, 2012
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