Investing with Hank from King of the Hill -- Propane Gas

Don't know much about propane gas -- I think lots of people outside of large urban areas/major metropolitan area depend on propane. I used to spend a lot of time in Northern Wisonsin and propane tanks were all over the place. Some little grills use popane also and yuppies head to home depot and others to fill their tanks.

Well here is a national propane dealer! Suburban Propane Partners, LLP. (NYSE-SPH) It has about 1,000,000 customers according to the profile on Yahoo!..

The company paid $2.45 per share last year and the stock was in the range of $33.50-$34.50 the first week of 2005. That puts the yield around 7.1% - 7.3%. Today the stock is trading for a little over $29. Pushing the yield over 8.4%.

Also, the company has paid over 50 cents per quarter for the last 10 years. Morevoer, they have not ever lowered the dividend. Looks pretty good to me. Any thoughts?

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