Canadian Utilities, Bellatrix Exploration reach 52-week high

Elizabeth Walters Elizabeth Walters, Stockhouse
0 Comments| February 22, 2013

Canadian Utilities Ltd. (TSX: T.CU, Stock Forum) closed at the 52-week high of $76.90 on Friday, for an increase of 1.10%.

The utilities, energy and technologies focused company announced it intends to split its Class A non-voting shares and Class B common shares on a two-for-one basis by way of a share dividend in 2013.

Canadian Utilities intends to undertake the share splits because the market prices for the shares have significantly increased in past years.

The second company to make the 52-week high list was Bellatrix Exploration Ltd. (TSX: T.BXE, Stock Forum). The stock closed at a new peak of $5.70, up 4.78%.

The exploration and production company announced material reserves increased 54% to a total of 104 million barrels of oil proved and probable reserves in 2012.

The evaluation encompasses 100% of Bellatrix's oil and gas properties and was prepared in accordance with National Instrument 51-101.

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