RE:Kasking discussing past $0.0733/mo or $0.88/yrI lost my position in a wonderful company, "Oceanex" because of that Finance Canada decision ...but back in 2007
Essentially has a monopoly on freight between Montreal and Halifax to St John's
One of its captains, a Sid Hynes, assembled a group, offered far less that it was worth but more than the trading price, and everone tendered their shares, Mine just disappeared one day because I sent nothing back and the cash was there.
Can't fault him for capitalizing on a huge opportunity.
malx1 wrote:
Have to apologize.
Kasking mentioned $0.0733/mo divs. He was right.
There was $0.88/yr up until mid-2016.
Company converted to corporation from Income Trust in 2011.
Held up the dividend for 5yrs but had to reduce it to take pressure off payout ratio.
Trusts didn't pay corporate tax, but corporations do.
Next climb is to $0.72/yr, the $0.06/mo