RE:DividendsMy opinion is quarters two or three (December 31), away from doing so . Still too much debt IMO ( see below)
As at March 31, 2022, the Company had net total debt of $245.5 million, and a Net debt-to-Adjusted EBITDA1 of approximately 2.29 times over a trailing twelve-month basis.
As at March 31, 2022, the Company had cash and cash equivalents totaling $85.8 million (December 31, 2021 – $124.4 million). This decrease was primarily due to an investment of $22.7 million in working capital (excluding the impact of restructuring liabilities), a repayment of $10.0 million of the Credit Facility, and $10.4 million of growth and maintenance capital expenditures. Since the beginning of 2021, the Company has repaid $153.5 million of long-term debt. The Company continues to make progress on the finalization of the announced Rexdale property sale and leaseback and currently expects to close by early third quarter of 2022, yielding at least $45 million of net proceeds.
If there was a dividend soon , it would be a sign all operations are going very well.