TSX:PRV.DB - Post by User
Post by
incomedreamer11on Sep 05, 2023 6:07pm
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Post# 35620814
Another distribution cut
Another distribution cutMarket expecting another distribution cut
From last report ( CAD $ thousands):
For the three and six month periods ended June 30, 2023 and 2022, there was a shortfall of cash flow from operating activities over distributions paid or payable mainly due to seasonal fluctuations in non-cash working capital, distribution on Class B LP Units that are recorded as a reduction of net income and comprehensive income and non-recurring items. For the three month period ended June 30, 2023, there was a shortfall of net income and comprehensive income over distributions paid or payable. The shortfall of net income and comprehensive income over distributions paid or payable is mainly due to unrealized fair value adjustments and distribution on Class B LP Units that are recorded as a reduction of net income and comprehensive income. The REIT financed the shortfalls using cash on hand and/or using the REIT’s revolving credit facility of $60,000 which bears interest at prime plus 100.0 basis points or bankers’ acceptance rate plus 200.0 basis points and/or planned normal course property refinancings.