Crescent Point Energy (CPG) has converted from a trust to a corporation. (So this site is not up to date.) It is now paying shareholders a dividend of $0.23 every month instead of a trust distribution which does not qualify for the dividend tax credit. In taxable accounts this means a substantial gain in after tax income. So CPG is now a growth stock with a dividend yield of greater than 7% and is trading near its 12 month high. It appears to have the best and most reliable long term growth prospects of Canadian oil & gas stocks and you get well rewarded while waiting to benefit from future growth. CPG continues to make great acquisitions and it now has significant land holdings in the best conventional oil plays, including the Bakken, lower Shaunavon, Viking, and to a lesser extent Pembina Cardium. With their recent equity issue of about $500 million, they probably have some other targets in sight.

It has been the largest holding in my portfolio for the past year and I am still adding on any dips.