Chemtrade Logistics Income 6 50 Convertible Unsecured Subordinated Debentures CGIFF

Primary Symbol: T.CHE.DB.E Alternate Symbol(s): T.CHE.UN | T.CHE.DB.G | T.CHE.DB.H

Chemicals Basic Materials

Chemtrade Logistics Income Fund is a Canada-based company that operates a diversified business providing industrial chemicals and services to customers in North America and around the world. The Company's segments include Sulphur and Water Chemicals (SWC), and Electrochemicals (EC). SWC segment markets, removes and/or produces merchant, Regen and sulphuric acid, sodium hydrosulphite, elemental sulphur, liquid sulphur dioxide, hydrogen sulphide, sodium bisulphite, and sulphides, and provides other processing services. This segment also manufactures and markets a variety of inorganic coagulants used in water treatment, including aluminum sulphate, and a number of specialty chemicals, including sodium nitrite. EC segment manufactures and markets sodium chlorate and chlor-alkali products including caustic soda, chlorine and HCl, largely for the pulp and paper, oil and gas and water treatment industries. These products are marketed primarily to North American and South American customers.

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Chemtrade Logistics Income 6 50 Convertible Unsecured Subordinated Debentures > Overcautious management and a Board not doing their job

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Post by Hich1205on Nov 15, 2023 1:40pm

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Post# 35737360

Overcautious management and a Board not doing their job

Quarter over quarter the management is providing guidance just to overbeat them once the results are disclosed. It's supposed to be managed as an income fund with high distribution to the unit holders but that's not the case anymore and the Board is just doing what they are best at : sleeping.
The payout is just 20 % and expected to stay below 25 % and the management are stuggling to give the right answer to analysts about the dividende hiding behind the Board's resposnabilities.
I think this is a great business, we may see some challenges in 2024 but nothing that we should be worried about. My only concern is that i invested in an income trust for a steam of revenues but the management just decided that they will manage the business as a corporation and keep low distribution level that is taxable as an income for the unit holders. I guess the management are just being obvercautious to just not have to deal with stress in their job

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