Solid 6.5% dividendGoodfellow's balance sheet has NEVER been stronger in it's history.
Last quarter they once again did a good job in managing their inventory.
My calculation of the break up value of the company is well north of $30.
I wouldn't be surprised if it's north of $35
The only way to get that would be for the Goodfellow and M.Jarislowsky
to sell their majority stakes.
Will that ever happen , i don't have a clue.
But the way Patrick Goodfellow seems to be running the company the
value of GDL will keep pilling in.
Last year was a bad year for the industry and yet GDL earned EPS of $1.72
Imagine in a good year...
At one point in time, they will have to do something with that excess cash.
In the mean time ,i will continue to earn this good dividend that yield me more than
what i could get in low risk bonds.
This is a sleep well investment.
Looking forward to the general meeting.