RE:So they have pass the dividend Yeah, I mean if they hit 100 million ebitda and pay 8 cents/ share dividend, with a share count of 325 million after merger, at 8x ev/ebitda that's 2.46/ share and ongoing dividend yield until that point.
forward ebitda for 2020 is 77 million. HNL has a credit facility of 108 million with 10 million in divestitures excluding the Marriot hotel. At an 8x multiple it still works out to 1.60/ share with the ongoing dividend yield.
Not a bad return from what, 70 cents current price?