New tease that I saw from Financial Intelligence Report regarding a high yielding Brazilian electric utility. From the tease:

"This well established, 90-year-old power company — actually run by an American company until 1964 — controls over 13% of the total power production in a major South American country, serving 5.4 million customers in over 550 towns and cities.

Company policy mandates a 50% payout of the adjusted net earnings every six months. In fact, their dividend for 2006 (and, so far, 2007) is 50% higher than the required 50% of adjusted net earnings at year end. That’s probably because a large majority of the stock is owned by shareholders in the South American country, and the board appears to like the idea of helping its own with cash flow.

Market cap is $9.5 billion, book value to stock price about 3-1, and P/E is a very conservative 10.5. Yearly revenues exceed $5.2 billion, good operating cash flow, and debt-to-equity at 1.1 — a good number for this kind of operation. Growth rate of earnings during the past 12 months is almost 21% "

Earlier in the tease, they mention that it is Brazilian. I searched on a website called The Utility Connection, found a bunch of Brazilian electric utilities but couldn't find the one that is teased. Can anybody else find this?
Dan

Looks to me like you nailed it nanopole. All the numbers I looked at are right.
9% dividend yield is not bad. The chart shows a consolidation phase for the last 6 months or so.

The tease did say that they controlled 13% of the electric market in Brazil.

good work.
Dan

Straight from the CPFL web site http://www.cpfl.com.br/ir/

CPFL Energia has its origins in Companhia Paulista de Força e Luz - CPFL Paulista, created on November 16, 1912, out of the merger of four small energy companies which operated in the interior of the state of São Paulo.

During this period of nearly 92 years, CPFL Paulista’s corporate history has been marked by several important turning points in its development. In 1927, after 15 years under Brazilian control, the US group, American Foreign Power Co. (AMFORP), incorporated CPFL Paulista, remaining part of this group until 1964, when it became a subsidiary of Eletrobrás, a federal government-owned holding company. In 1975, CPFL Paulista’s shareholding control was transferred to Companhia Energética de São Paulo – CESP, a company controlled by the São Paulo state government. On November 7, 1997, the company was privatized, the current shareholding group taking over control.

Following privatization, CPFL Paulista began a process of expansion according to a business plan established by its controllers, culminating in August 2002 in a restructuring - the conclusion of which was the creation of CPFL Energia as a controlling holding company.