OTCPK:APCFF - Post by User
Post by
Art365on Feb 22, 2013 2:22pm
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Post# 21030052
ATP's outlook
ATP's outlook I find it very difficult to find info about this company. Does anybody have a recent brokerage report update after the recent disposition of assets? In a report dated 11 december 2012 (before the disposition) , National Bank Financial had a worse case market scenario going like this:
While we do not expect a dividend cut for 2013e,
the market appears to be risking ATP’s dividend by ~20-25% –
reflecting a pro-forma 2014e adj. payout ratio of <80% and a
spread to BBB-10-year bonds of ~4% (in line with historical
averages). As such, we would recommend accumulating ATP
should the name continue to sell-off towards the low $9s – i.e.,
which would reflect a ~20-25% risk factor to the company’s
current dividend and a pro-forma dividend yield of ~10%
versus the company’s long-term average of 9.8%.
I guess somebody waiting for the low 9's to buy will be left in the dust, though the impact of a dividend cut would certainly be devastating, even if anticipated. I wonder if somebody has some opinion about all this, especially the probability of a dividend cut, taking into account the most recent developments.