RE:RE:Surprised Then I guess you better sell.
In the meantime, as can be seen, it only took them 6 weeks to generate enough cash to cover the special dividend and even if lumber prices check back somewhat, they are stil raking in huge amounts of cash. GLTA
Based on the current number of shares outstanding, the special dividend will result in an aggregate distribution of approximately $130 million. The dividend will be funded from cash on hand, which amounted to $750 million as at April 30, 2021, an increase of $137 million from March 31, 2021. Interfor’s available liquidity, comprising cash on hand and amounts available under its revolving credit facility totalled $1.1 billion as at April 30, 2021.
“This special dividend reflects a partial distribution of the extraordinary cash flows being generated from record lumber markets” said Ian Fillinger, President and Chief Executive Officer. “We are able to reward our shareholders with this return of capital, while retaining ample financial flexibility to complete our multi-year strategic capital plans, grow significantly through acquisitions and continue to buy back Interfor shares. We are confident that our balanced and disciplined approach to capital allocation will continue to maximize value for our shareholders.”