RE:RE:RE:RE:RE:RE:RE:Paid today! Lazaros wrote:
Your ONLY source of accurate data is from the company's filings on sedar or the SEC (for U.S. co's).
Agreed.
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Lazaros wrote:
The actual payout ratio is whatever they state in their regulatory filings.
The company is free to use whatever payout ratio definition is most flattering to management because 'payout ratio' has no GAAP or IFRS meaning. There are a number of choices, and an analytical investor should choose which is most suitable.
Here we use growth-adjusted FCF in the denominator -- because other formulas do not align with our goal of income-growth -- and this too has no standard meaning under GAAP or IFRS.