Talking to myself on this BB but for the lurkers out there, DH was again a top pick of Paul Gardner when he appeared on yesterday's Market Call Tonight. Here are two summaries of his comments. GLTA
Davis + Henderson (DH TSX) Recent acquisitions have been accretive. Yield is attractive at 6.5 percent. A unique story that offers reasonable growth and defensive characteristics. U.S. acquisitions have been accretive, with now only 40 percent of revenue comes from cheque producing.
| 2012-08-23 || TOP PICK || Paul Gardner, CFA || |
Recently blew away numbers. Expanding into a mortgage platform and into the back office of US lenders. High-margin business. Cheque creation used to be 80% of their business but is now 40%. Although we use less cheques, their fees keep going up and up.
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FIXED INCOME, LARGE CAP DIVIDENDS AND REITS