Jarislowsky FraserI have tremendous respect for Jarislowsky Fraser.
I just noticed, that they have reported that as of June 30th, they owed 288,914 shares
of the multiples voting or 1.62% of the shares.
While i don't know the price they paid, they must have bought them between April and June.
Before my retirement, i used to be on the pension board of my former employer and
Jarislowsky was our pension manager so i know them well and their style of investing.
They are very long term investors.They are the Buffet style.It is not unusual for them
to keep a company for more then 5 to 10 years.
Before investing, they do their homeworks.I am very happy to see that i have them as a
co shareholder.
Also, i saw that there are a few new small institution shareholders.Of noticed is
The Florida state board of administration.DRX does a lot of business in the Miami, Fort-lauderdale
area.It must be getting noticed by them.
I still track the daily volume of all exchanges.Thursday and Friday we saw 2,095,200 shares
traded or 13% of the float.
There as been a lot of technical damage to our company but the 3 to 5 years is
as bright as it was last year.
At the beginning of next year, DRX will be once again sitting on a mountain of cash.
This time around,the Paschini told us that they would not be selling any of their shares.
So what will they do with this excess cash?I guess it will all depend on were the stock price is trading.
If it is low, we could see a NCIB, or a SIB.If it is high, we could see a special dividend.
A mix of both is also a possibility.
In any event, in this environment were stock index are at or close to all time high,
i am very comfortable owning a small piece of this company.