This blog provides comments and thoughts on the financial markets and specifically—dividend producing investments.
**********Go to “Core Portfolio” for current holdings.**********
(June 19 Update: Cramer wrote an article today very supportive of LINN/LNCO.)
(June 18: In my opinion the tanking of LNCO is a buying opportunity.)
Comments for LNCO are the most popular in this blog. So I am providing some updates on this holding:
First, LNCO is converting to a monthly payer (of dividends) which is good for people that want or need a steady monthly income.
(Update May 14: Low is $37.10. Start buying in your IRA.)
(Update May 13: Trend is still down….lot of bad press on LNCO. (Update May 8: Trend is still down and now below Support.)
(Update May 7: LNCO has dropped to $39 and the momentum is still DOWN so I would hold off on buying or adding to positions. On Monday Cramer said he purchased LINE for his charitable trust so his viewers will probably be buying on Tuesday, driving up the price..)
Second, LNCO is going ex-dividend on May 6 and we would expect to see a price decline, possibly down to $40. So this gives you the opportunity to buy or add at “sale” prices. This is a core holding that you could plan on holding ‘forever’ or until we see negative news in the Company.
LinnCo, Inc. (NASDAQ: LNCO) declared a quarterly dividend of $0.725 per share, or $2.9 annualized.
The dividend will be payable on May 16, 2013, to stockholders of record on May 8, 2013, with an ex-dividend date of May 6, 2013.
The annual yield on the dividend is 6.9 percent.
LNCO is designed for IRA accounts. Here is a portion of my first posting:
“This is a fabulous new investment vehicle suited for people that want to put master limited partnerships in their IRA. (For ex you have little or no investment monies in a taxable account.) Typically you do not buy master limited partnerships in an IRA.
But LNCO—(Not an MLP but shares in MLP growth—backed by LINE— IS an LLC) gives you the opportunity to place this dividend producing investment in the IRA and Avoid all the awful paperwork and tax issues at the end of the year.”
I am not an investment professional. You must do your own research before buying any position. All gains or losses that you realize are based on your choices. Additional commentary is posted in the right margin under ‘Recent Posts’ and in ‘Background’ and ‘Investments’ at the top of the page. Bookmark this blog and visit often!