RE:RE:RE:Corus should not be paying a dividend conceptually one doesnt want an excessive debt load regardless of circumstances. It certainly was excessive in 2018.
today though, fully 10% is just that stupid capitalized rental leases etc. if you are about to go under you tell those unsecured landlords to stuff it and sublet their way out - it is not a long term debt against tangible assets.
so we have $1.1 billion of which about 65% is fixed term and no payments for about 5 years. It is trading at a discount but show me debt issued almost 2 years ago while rates were low that isn't trading at a very healthy discount right now. Some perspective - long bonds suffered worst decline in many many decades.
so we have $400 million of at risk operating debt - sell some radio stations.
not perfect though - mgmt pissed away about $50 million that could have been put down on those operating loans instead of ridiculous share buy backs. That action should have had someone tossed out of the executive suites
Griz_Online wrote: Nothing wrong with some debt, but Corus is highly leveraged going into a recession not a great combo IMO. Have fun bro.