RE:Research Report Nov 14thVery nice. I especially like this bit:
EIF has increased the dividend 4 times in the last 3 years at an average annual rate of 7.7%. The company reported a payout ratio of 45% of free cash flow and 63% of adjusted earnings in Q3. The payout ratio for the first 9 months of the year was 76% of free cash flow which is above the company’s 70% target. On the conference call, management was confident that the payout ratio would continue to decline through the balance of the year. They expect to increase the dividend again once the payout ratio falls below the 70% target.