TSX:CHE.DB.E - Post by User
Comment by
Capharnaumon Nov 13, 2020 12:05am
![](https://assets.stockhouse.com/kentico-cms/0342-00/images/Sprite.svg#id_Post_Views_Icon)
288 Views
Post# 31892969
RE:RE:RE:BMO analyst flash update
RE:RE:RE:BMO analyst flash updateFantome wrote: It is hard to imagine that the SP has anywhere to go from here but down... not long ago the company was paying a distribution of 10 cents a month with a payout ratio in the 60s...now it can't even cover a 5 cent a month distribution. (115% payout ratio)...big difference...
While I think it was a bad quarter, they did more maintenance capex this quarter than in Q1 and Q2. They also had $4M in costs issuing the new debentures which are non recurring costs. Excluding the costs related to the new debentures and with an averaged maintenance capex cost (total maintenance capex for Q1+Q2+Q3 / 3), the payout would have been 71%.
However, with two maintenance shutdowns scheduled in Q4, I don't expect improvements anytime soon.