Both companies suffered similar fates during the coronavirus outbreak. Between the two businesses, Suncor suffered the worst beating. Investors were shocked by management’s decision to slash dividends by 55%. Meanwhile, Buffett feared the shutdowns would cripple Restaurant Brands. Hence, he bade goodbye to his favourite fast-food chain.
In 2021, the quick-service restaurant stock and the energy stock remain quality long-term stocks. You can say the companies are well positioned for a well-deserved recovery.
Excellent reopening play
Restaurant Brands proved more resilient in 2020. From a low of $39.24 on March 18, 2020, the stock finished the year at $77.19, or 97% higher than its COVID low. As of May 3, 2021, the share price is $86.48 (+12% year-to-date gain), while the dividend yield is 3.02%.
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MUMBAI: Billionaire investor Warren Buffett along with his long-time partner Charlie Munger on Saturday hosted the annual general meeting of Berkshire Hathaway, often dubbed by some as the ‘Woodstock for Capitalists’.
The famous investor’s address to the shareholders and his millions of admirers, hosted virtually, comes in the backdrop of a rebounding US and global economy as Covid-19 vaccination accelerates in most western nations.
Buffett’s Berkshire Hathaway, however, used most of the March quarter to book profits and the company’s net stock sales were the highest in five years in the quarter, as per Berkshire Hathaway’s earnings reported earlier in the day.