ARC investors think like this, they like their 3% divy Tell Arc to take a long walk of a short plank....
Arc pays a measly 3% dividend, compared to it share price, a dividend it hat to carve back recently becasue they had been paying it off the balance sheet for simply to long. So the share price is trading at 33X the value of the dividend.
If VII generation paid 1.50 in divident, it would still have 500 million a year to pay down debt. Good compromise pay the share holders and pay down debt.
At 1.50 dividend using ARX dividend multiplier the stock is 50 dollars.
You forward anual cash flow will equal your debt.
You fund folow would be in the 1.7-1.8 billion dollars range
Your FCF would be in the 1 billion range.
STUPID DEAL VOTE NO.
Management messed up big time.
IMHO