The American Stock Exchange, also known as the AMEX, was founded in 1842 as the New York Curb Exchange. It got that name since stock traders and brokers used to stand out on the street by the curb and trade stocks back in the early 1800's. On October 1, 2008, NYSE Euronext (NYX) took over the American Stock Exchange. The AMEX is now known as NYSE Amex Equities.
Although the AMEX is now a division of the NYSE, over 500 stocks are still traded on the exchange, and according to WallStreetNewsNetwork.com, there are over 20 AmEx stocks with yields above 2.5%. Many of these stocks are closed end funds, real estate investment trusts also known as REITs, and oil and natural gas income partnerships. But there are a few gems that are regular corporations.
British American Tobacco (BTI), which produces Dunhill, Kent, Lucky Strike, Pall Mall, Viceroy, Kool, and Benson & Hedges cigarettes, generates a yield of 2.8%. The stock has forward price to earnings ratio of 12.6.
National Healthcare Corp. (NHC) operates health care centers, assisted living centers, and retirement centers. The yield is 2.7% and the forward PE is 15.3.
Park National Corp. (PRK), a bank holding company, has paid quarterly dividends since December 1996 and has raised their dividend every year. The stock yields 5.5%. The company which has a market cap of almost $1 billion, has a forward PE of 13.7.
For a free Excel list of high yielding American Stock Exchange stocks, over ten of which yield more than 7%, go to wsnn.com. The list can be downloaded, sorted, updated, and added to.
Author owns NYX.