RE:RE:RE:Earnings are out
nedstar71 wrote: Good earnings as expected. Was hoping for a dividend bump, but not much question there will be one on or before next Q's report.
Altho the whole year data supports the company going with the 22 cent dividend, I find it interesting the quarterly distributable dividend was much higher than I thought.
.0649 X 4 = .2596
I thought just under 25 cents was the coverage, so barely under 26 was a surprise expecially since it was still a quarter that had challenges. I think the next Q1 will likely show similar to Q4 numbers as Ontario's restrictions were put back on late December until March (I didn't really pay attention if other provinces stayed the same or bumped up thier restrictions in the period).
That said, I'm somewhat disappointed by no real forward looking dividend news, but that's not abnormal as the last 2 increases were announced on the preliminary releases not the actuals. In 6 weeks from now we get an opportunity for increase.
This to me feels like solid info. A forward look at 26 cents depending on how you see a forward yield valued:
@ 8.25% = 3.15
@ 8% = 3.25
@ 7.75% = 3.35
@ 7.5% = 3.47
@ 7.25% = 3.59
@ 7% = 3.71
I've been valuing based on what they actually payout at the moment with a guide to possible increases, which I guess is a safer and more direct method, I should look more forward looking at valuing a yeild range based on the distributable income produced as I'm not just buying the dividend but the full company. Makes my wanted 8.25% more palatable on the value of the full entity rather than just the payout. That said my 8.25% may still be wanting too much. But then again I'm looking for good deals when I'm investing for upsides, not just paying for something at full value.