PWE

PWE? You might be thinking that I have gone crazy. Is is some wrestling federation or something like WWE?

Nope, PWE stands for Penn West Energy Trust. Just typing PWE into Google gives me the stock price of this canroy which I own. It is listed on the New York Stock Exchange with the ticker symbol as PWE.

In fact, I have been receiving cheques from PWE every month for the past few months. Based on my estimate, the distribution yield by this canroy is slightly below 10%. It does make a very good income source I must say.

It also just declared its distribution for the month of September:

Penn West Energy Trust ("Penn West") (TSX:PWT.UN) (NYSE:PWE) confirms that its September 2009 cash distribution will be CDN$0.15 per trust unit payable on October 15, 2009 to unitholders of record on September 30, 2009. The ex-distribution date is September 28, 2009.

The CDN$0.15 per unit is equivalent to approximately US$0.14 per unit (before deduction of any applicable Canadian withholding tax) using currency exchange of one Canadian dollar equals US$0.90. Registered unitholders with U.S. addresses will receive their distributions directly from Penn West's transfer agent, and will be paid in U.S. currency using the exchange rate in effect on the record date. Non-registered U.S. unitholders will receive their distributions through their brokers.

I bought into this stock while it was over US$10. Today it trades at close to $15. That is close to a 50 per cent gain on top of the dividends that I have received. But guess I will just hold on to this stock for now.

See Related Articles:

1. Income Investing - Canadian Royalty Trusts
2. Investing in Canadian Royalty Trusts