Algoma Central Corp T.ALC

Alternate Symbol(s): AGMJF

Industrials

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.

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Algoma Central Corp > Expecting special Dividend??

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Comment by porksnifferon Dec 14, 2022 2:18pm

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Post# 35171449

RE:RE:RE:RE:RE:RE:Expecting special Dividend??

stockpunter wrote: ALC also has a share buy-back program. Can anyone tell me how vigorously they are executing that?
Companies often announce these, but then do not follow through, or so I have read.

They bought 18,172 for $16.59 for the first time all year November 30.

I don't think they have room for both. This dividend will cot a cool $51 million. I don't see them go all out on purchases as the stock is fairly valued here.

I've been looking at Algoma Steel. Huge buybacks with a solid 3.5% yield and at it's low for the year. Patience will be needed but the reward could be great as they are buying back at this low price.

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