Revenue stable, improving margins and lower payout ratioThe results were solid, revenue up just slightly, but margins are improving. As I expected, efficienies are being realized and certain expenses are coming down (personnel costs/bailment).
The funds from operations payout ratio dropped to 53%. The funds available for dividends increased over Q3 last year despite less revenue.
If everyone was waiting for a train wreck, I think they will be disappointed that DCI is doing ok and things are looking up with a new Canadian business coming online to make up for The Cash Store debacle.