LIQUOR STORES NA LTD 4.70 PCT DEBS T.LIQ.DB.B

good results actually

[patenright111]

impairment is pretty irrelevant really - non cash - same store sale cdn actually up in q4 - wow - that is a beat . total sales up what 10%! - cashflow at $.47 vs .47 in last year q4 despite a brutal alberta economy - that is good. cashflow for 2015 actually higher at $1.13 vs 1.01 - good again. now for dividend, like I just said, not like they cut because their cashflow dropped, but rather to fund growth which is a HUGE difference! payout ratio in q4 was an incredible 60% ( .27/.47) which is low and using new lower divvie of .09 it is at 19% !!! yes im sure there will be some who wont be happy with div cut and yield now of 4-5% but that is still decent and no difference between earning that plus share appreciation (which is what funding growth does) vs say a div yield of 12% but no share price appreciation. who knows, stock might actually go up , but I suspect there will be smart ones who will actually want this down tomorrow so they can load up as I will be doing because the worst has passed in terms of oil ( now close to 40) so any drop tomorrow will be viewed as a gift of an opportunity