The following utility ADR stocks from Brazil have dividend yields of more than 5%:
1.Companhia Energetica de Minas Gerais Cem – CIG
Current Price per share – $19.03
Dividend Yield – 9.54%
2.CPFL Energia S.A. – CPL
Current Price per share – $64.24
Dividend Yield – 8.89%
3.Electrobras Centrais Electronicas – CAIGY
Current Price per share – $14.75
Dividend Yield – 5.63%
Any ideas why CPL posted a nearly 8% gain today?
I do not see any specific news for this 8% move yesterday.No news in Brazil either on the corporate site.
Seems like CPL just went up for no reason after the Bear Stearns downgrade on Friday. Volume was average as usual too.