Sprott Resource

[OldPoop]

Any pros have an opinion on this?

Sprott Resource Corp (SCP on the TSE) last Wednesday announced it would start paying a dividend.  It is made up of 3 parts; energy (natgas and oil in Canada), agriculture, and gold.

"SRC intends to pay a monthly dividend at least equal to 0.833% of SRC's total equity attributable to shareholders ("SRC's Book Value") based on the most recently filed financial statements of SRC at the time the dividend is declared.  The amount of future monthly dividends will accordingly fluctuate quarterly with SRC's Book Value."

The first monthly dividend of $.038 is based on the Sept 30 stock price of around $3.60, which if my poor math is right, works out to 12.67% a year, IF they continue at that rate.   Of course the stock price shot up above $4 within minutes of the announcement, but the frenzy has already calmed down and the price is starting to fall.  If it drops a little more I'm thinking of jumping in.  Opinions?