(Editors' Note: Extendicare trades on the Toronto Stock Exchange under the symbol EXE.TO, with ~$CAD 900K average daily volume).
Extendicare (OTCPK:EXETF) is a long-term care operator with operations in both the United States and Canada. It pays dividends monthly, currently a rate of $0.04 per month which is good for close to a 7% annual yield. The Company has 35,000 employees and 249 senior care centers with capacity to care for approximately 27,700 residents. I won't dwell on the outlook for long-term senior care, but it's certainly fair to say that I am bullish on this industry and have previously written about Newcastle Investment Corp. (NYSE:NCT) which is rapidly moving into this space.
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