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Algoma Central Corp T.ALC

Alternate Symbol(s):  AGMJF

Algoma Central Corporation is a Canada-based marine shipping company. The Company owns and operates a fleet of dry and liquid bulk carriers’, serving markets throughout the Great Lakes St. Lawrence Seaway and internationally. Its Domestic Dry-Bulk segment includes the Company’s 18 Canadian dry-bulk carriers. This segment serves industrial sectors, including iron and steel producers, aggregate producers, cement and building material producers, salt producers and agricultural product distributors. The Product Tankers segment fleet consist of seven product tankers employed in Canadian flag service and one international tanker operating in Canada. Its Ocean Self-Unloaders segment consists of eight ocean-going self-unloading vessels and a 25% interest in a ninth selfunloader. Its Global Short Sea Shipping segment, which consists of the Company's NovaAlgoma joint ventures, focuses on niche marine transportation markets featuring specialized equipment or services.


TSX:ALC - Post by User

Bullboard Posts
Comment by Infirstmoneyon May 03, 2019 5:13pm
126 Views
Post# 29709147

RE:RE:Special dividend

RE:RE:Special dividendCompany has substantially expanded operations in the last 6 months, and wll soon own 40% of the CSL International Pool. Closing expected in late May or June. Continued share buybacks, and hopefully some insider buying, should propel this stock to at least 15 or 16 dollars. If the company can speed up the NCIB, the back half of 2019 should finally reward patient shareholders.

Also, if the company can sell their remaining real estate holdings, the funds could be used to further renew and update the fleet, as well as another special dividend. Or, use the credit faciities for the fleet, and complete the NCIB ahead of schedule. All outcomes are positive as long as the company remains proactive in 2019. Time has come for growth and price appreciation. 
Bullboard Posts