TSX:CHE.DB.E - Post by User
Post by
agb512on Feb 15, 2019 1:56pm
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Post# 29371938
results question
results questionTD "analyst" has payout ratio of 88%. Distributable cash after capital expenditures, etc., was 26,962,000 . Distributions declared 111,116,000. I'm no accountant by any stretch of the imagination but I'm having just a bit of trouble with that math. The other accounting I don't understand is how the Litigation Reserve of 100,000,000 fits in. Is this actual cash set aside and accounted for somewhere? Is this blended in with the 90,000,000 writedown of goodwill somehow?
EBITDA of 65,000,000, 111,116,000$ paid out. Obviously not sustainable so where does the money actually come from to make up the difference? It seems the answer most often touted is payout ratio calculated from total cash flow which has never made sense to me. Maybe they can sustain this in the short run but over the next very few quarters there had better be a dramatic increase in earnings.