Whatever happened to the American Stock Exchange? The exchange started in the 1800's with a group of traders standing outside the New York Stock & Exchange Board, "on the curb," trading speculative stocks. New York Curb Market Agency was created in 1906 and was later known as the New York Curb Market in 1911. The name was changed to the New York Curb Exchange in 1929. The name was changed to the American Stock Exchange in 1953. In 2008, the American Stock Exchange merged with the NYSE Euronext (NYX).
The American Stock Exchange, also referred to as the AMEX, has many stocks which are considered to be more speculative with lower market caps than NYSE stocks, and also trades many closed end funds. Many of these companies provide high dividends according to the free list of high yield American Stock Exchange stocks at WallStreetNewsNetwork.com.
British American Tobacco plc (BTI) is one of the largest companies that trades on the AMEX, with a market cap of $91.6 billion and sports a yield of 2.8%. This marketer of cigars, cigarettes, and pipe tobacco products with brands that include Dunhill, Kent, Lucky Strike, Pall Mall, Viceroy, Kool, and Benson & Hedges, trades at 12.8 times forward earnings. Earnings for the latest quarter were up 22.60% year-over-year on a 1.9% increase in revenues.
National HealthCare Corporation (NHC) is another AMEX traded stock that pays a decent dividend. sporting a yield of 3.6%. The company manages long-term health care centers, assisted living centers, and independent living centers. The stock trades at 15 times forward earnings.
Some of the high yield closed end funds that trade on AMEX include Eaton Vance Municipal Bond Fund (EIM) yielding 7.9%, Invesco Van Kampen Advantage Municipal Income Trust II (VKI) yielding 7.7%, and Reaves Utility Income Fund (UTG) paying 6.3%.
To access a free list of the other high yield AMEX stocks, which can be downloaded, updated, and sorted, go to WallStreetNewsNetwork.com.
Disclosure: Author did not own any of the above at the time the article was written.