RE:RE:RE:RE:RE:RE:Special dividend $2.00 for shareholders of record TuesJan 24Ed, good move.
RBC Investment Note Jan 13:
Outperform | Price Target CAD 89.00, Sentiment (from TOU's update): Neutral
My key takeaways:
1) We expect the stock to be weak initially on the news as estimates are revised downward, but we would view any material weakness as a buying opportunity with the long-term outlook largely unchanged." (Unchanged is good).
2) "Our outlook calls for special dividends of $2.00/share in each of the next three quarters, totalling $8.00/share for 2023. Additionally, our outlook calls for two more dividend hikes this year, bringing the company’s annualized basic dividend to $1.16/share by year-end". (Total yield would be ~13.5%!).