TSX:TNT.UN - Post by User
Comment by Holden22on Aug 08, 2024 12:22pm

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Post# 36169645
RE:RE:RE:RE:RE:Distribution cut
RE:RE:RE:RE:RE:Distribution cutno argument with you on the math. you are right, it was required.
I can see the long term value they are building but keep in mind this is a reit, a vehicle made for stable income distribution, as articulated by the reit consistently since they started back in 2012. They have the ability to pay a small dividend comfortably and they are choosing not to do so.
It is safe to say the market currently does not see value in the NCIB in the same way management sees it - the percentage of shares cancelled has not translated to an equivalent share price appreciation. If you concede that point, you could say management is choosing to continue in this course of action knowing it will be detrimental to shareholder value in the short term and these are shareholders who have been beat up and endured a steady decline over the last 5 years; I mean $43 to $8.60 is rough.
Management seems to be willing to grind their shareholders patience down into a fine pulp. I am not certain all will be forgiven when a dividend is restored but I am hoping it will be a meaningful bounce. I look forward to getting some value back when it is restored and I'll move on my way. Here's hoping its 6 months away and not 12! Good luck everybody