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Peter Lynch liked regional businesses with a geographic moat. He also liked companies operating in weird, gross, or boring industries.
Today’s stock checks all of those boxes.
Vitreous Glass Inc. (VCIGF) is a nano-cap stock based in Alberta, Canada.
The company has a simple business model: it collects glass bottles, crushes them, and sells the processed material to fiberglass insulation manufacturers.
This is more like owning part of a small business than holding shares in a larger publicly traded company, because Vitreous Glass operates a single glass-processing facility. That may be too risky for some investors, but there are several attractive qualities here.
For starters, Vitreous Glass is debt-free. If you like clean balance sheets, that’s a definite plus.
Second, this is a consistent dividend stock that offers a relatively high starting yield. As a Canadian company that pays variable dividends in Canadian dollars, exchange rates and taxes can affect payouts, but the stock currently yields around 6.7%.
Vitreous also trades at a modest valuation, with a price to earnings ratio of 11.12.
Additionally, crushed glass is expensive to transport over long distances, giving the company a regional monopoly-like position.
Lastly, despite being a nano-cap stock with an ADR listing in the U.S., the shares are reasonably liquid, with a three-month average trading volume of 122 shares per day. Speaking from experience, I’ve owned this stock since 2022, and entering a position has been fairly straightforward if you use limit orders and exercise a bit of patience. The Canadian-listed shares ($VCI) are more liquid, making the stock easier to buy for Canadian investors or those using Interactive Brokers.
This isn’t a stock for everyone.
Investing in a single glass-processing facility carries significantly more concentrated risk than owning a diversified large-cap business. However, Vitreous has no debt, consistently pays dividends, and benefits from a unique regional moat.
This is a fairly liquid nano-cap stock that can be purchased through many mainstream brokerage platforms, including Fidelity, and it has decent daily trading volume for a company of its size. If you’re looking for an offbeat dividend stock and are comfortable investing in nano-cap companies, this one is worth a closer look.
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Disclaimer: This article is for entertainment purposes only. It is not financial advice, always do your own research.
