Post by
lifeisgood1010 on Feb 14, 2024 2:07pm
Q4 results
Q4 results should come out in the next couple of days.
While i see some value in my GDL holding, i am not expecting much from Q4 results.
Again, we cannot compare them to the post covid results witch were abnormal because of the supply and demand imbalanced that took the price of lumber to uncharted territory.
So prior to the covid years GDL posted 3 cents profit in Q4 2019 and 2 cents profit in Q4 2018
I would be verry happy if GDL were to post anything north of 20 cents.
On an historical basis, they are over capitalized.
Will we see a special dividend down the road is anybody's guess.
GDL mngt being very prudent and conservative, it may not happen right away but
at one point in time, they will have to do something with that extra cash.
They ended Q3 2023 with ZERO BANK DEBT. vs 31.6 million in Q3 2022
This will add about 4 cents to earning in Q4 if they did not take on any debt.
In any event at current SP GDL is paying a 6.35% dividend and i am not a seller at .6 x book
and probably .4x real asset value.
Staying long