GREY:ALARF - Post by User
Post by
mickeymouseon Jun 20, 2018 12:04pm
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Post# 28199252
deployments and payout ratio
deployments and payout ratioSo far this year Alaris has deployed the following:
(Million CDN$)
Heritage - 18.8
ccCOMM - 13.1
Fleet advantage - 19.5
Accscient - 3.9
Total = 55.3
Redemptions of their investment:
Labstat - 47.1
Planet Fitness - 31.95
Total = 79.15
From the Q1 numbers and investor presentation the sensitivity for deployment or redemption is .04 for each 20 million CDN$.
The Heritage deployment was included in the Q1 numbers where the per share cash flow was given as 1.80 and per share and a dividend of 1.62 - so a surplus of .18 per share.
So using the Q1 numbers and the net redemption since Q1 of 42.65 million $CDN ( 79.15 - 36.5) if the sensitivity is accurate this should have an impact of between .08 and .09 per share (42.65/20 x .04 = .0853)
With the stated surplus to distributions of .18 after Q1 the current surplus cash flow over and above the current distribution should be about .095 (.18 - .085).
Payout ratio right now should be about 94% as the surplus would be about 6% of the dividend (.095/1,62 = 5.8%). This does not take into account the early redemption clause cash flow as those are one time items and do not imact the payout ratio going forward. There was also an adddtional cash sweep at the end of April for one company.
Hopefully the BNN experts and the "major institutions" can also do the math and figure this out. A reasonable expectation based on past history is at least another 30 million CDN$ of deployment this year which will drop the payout ratio further.