Value Opportunity With Tootsie Roll Industries With a 3% Dividend Yield

Tootsie Roll Industries (TR) has been engaged in the manufacture and sale of confectionary products for 113 years and operates a candy portfolio that includes the popular brands Tootsie Roll, Tootsie Pop, Junior Mints, and Mason Dots. Led by the husband and wife team of Melvin and Ellen Gordon, who control 60% of the company’s voting power, Tootsie Roll employs 2,200 associates and distributes its products primarily across North America.In fact, Melvin Gordon is a very robust ninety year old who has served as the company’s Chairman since 1962. Moreover, this year represents the sixty-eighth consecutive year the company has paid cash dividends and the forty-sixth consecutive year that a stock dividend was distributed. A year ago, the company also purchased 937,956 shares of common stock on the open market for an aggregate cost of $21 million.... Read more

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