Turtle is now officially a basherSTILL BASHING THAT SAME AUTHOR FROM SEEKING ALPHA.
I was searching around in that same article about 10 times, those wonderful and exciting words" $331.7 million of cash and cashe quivalents, restricted cash and short-term investments and $225.5 million of long-term investments in corporate and government bonds as at March 31, 2017" , reported by AIMIA' CEO as of June 14, but couldn't find it . and wonder why ? he didn't do enough research on it? he never knew about it, or he omitted it on purpose? does he qualify as a stock writer,either way? But anyway we know about it, we are doing the maths ourselves.lets pay the dividends to commons and preferred shares, using 3x FCF 220 millions x 55%=3x121 millions, leftover 3x 99millions each year, using this leftover to slowly pay down the 390 millions net debt of aimia , -390-297=-93 millions, using a portion of the cash on hand to pay off the leftover debt of 93milions (or a portion of the proceeds from the sale of premier club), whatever, it is easy, as aimia has too money, it is well enough. so the dividends for both the commons and prefers will be paid fully for 3 years , as money is not a issue.
"The bigger threat to Aimia though is a slow dying off of the business" he said that too, I don't agree with that, NOWADAYS, the canadian economic is not performing well, but aimia still generates nice FCF, that is envy of others, in times like this, FCFwill be ABOVE or at least 220millions, how about when the canadian economie finally picks up? how much it will be? end of bashing.