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

I REPEAT ADJUSTED CASHFLOW IS 1.13/SHR IN 2015

[patenright111]

adjusted is appropriate as I already explained. $1.13 is a FACT - it cannot be disputed. Thus with new dividend of $.36 that is a payout of JUST 31.8% !!! Smart investors know that is low and is not NORMALIZED, so in 1-2 years when capx reduces to normal levels of like 5-10M from 20M, the company will at the very least another 10M -15M of cashflow to use for dividends and 10M/27M shares = .37 more dividends + .36 = $0.73 div at a "bare minimum". using 9% yield on $0.73 = stock of $8.1 and well look at this is exactly where the stock currently is so it is fair value right now. That is the reason the stock is not at $5-6 like many bashers want and hope for. you cant say oh the div is .36 and lets now use a yield of 7% and stock = $5.1 - NO NO - smart investors are not that stupid as again they know the .36 div is not NORMALIZED !!! your weclome