Westbond Enterprises Corp V.WBE

Anybody thinking of a chance of dividend reinstatement?

[MadCan24]

This one seems to be a stable company and as per the last results releases informed that they are holding on to cash to reinvest in their business. Anybody thinking of a good EPS or dividend reinstatement? I feel this is an undervalued and highly illiquid stock. What do others think?

[JayBanks]

I still carry the same opinion as previously discussed... Just sitting waiting on the quarterly news I expected last week to see if we have caught up on that backlog issue they reported last quarter... if we are back on schedule I don't see why we won't return to getting a payout again.

[scarface9]

Doesn't look like it. They just released their results are didn't have much to say.

[laurencelefou]

May be in Q3 or Q4.  By Q3 the debt wiill be paid off.

[MadCan24]

I read your detailed analysis on this from last year where you mentioned that there was a term loan that would be paid off by August of this year and after that this company will be debt free. Where did you read it? I have trying to find detailed financials about WBE but I dont find them anywhere. Its a small operation and they just post bare minimum information on public domain. They dont engage

[JayBanks]

Actually this is one of the better companies for sharing information I've ever tracked.. Check the MD&A (usually where good information like this can be found) Page 7, 2nd Paragraph... When you look everywhere, start on SEDAR documents lol I don't think they will be debt free, they will just have no ongoing debt commitment payments, I believe how I understand it... They frequently

[laurencelefou]

Note 11 of the Consolidated Financial Statements states: at the expiration of the swap agreement, the balance of $535,700 is now converted into a term loan payable monthly until August 2023 at a fixed interest rate of 6.159%.  WestBond is paying $178,572 per quarter, that payment will go away in August 2023.  WestBond has a revolving bank loan and at the end of FY 2023, the amount owned

[Tslayer]

I doubt a dividend will be considered after yesterday's terrible financials. It will be under $0.20 when markets open. 

[scarface9]

They might as well take this company private. Waste of time listing with a $4 million market cap. They're not a growth story and they don't pay a dividend= dead money for investors.