Richards Packaging Income Fund RPKIF

5i Research

[Possibleidiot01]

Review of Richard Packaging Income Fund

Oct 10, 2023

RPI.UN is an attractive dividend grower with a decent track record of consistently raising dividends per share over the last ten years. RPI.UN’s revenue has been in decline over the last few years due to oversupply, which is concerning as the situation has not turned around yet. The company is highly sensitive to the general macro environment. Therefore, a strong economy may increase revenue growth again. In the last three years, the distribution per unit has not grown. We are maintaining the rating at “B”, while at the same time remaining open for a future downgrade if its sales growth continues to decline.

[incomedreamer11]

Where did they get attractive dividend growth? From 2016 they never increase dividen and occasionally pay small amount special.For income trust absolutely not attractive 3.8% yeild with no growth for production and distribution. For last three years trust lost more then 60% of share price.