Black Diamond has reduced its monthly dividend by 50% to $0.025/share from $0.050 share. The new dividend implies a yield of 6.6% and 2016e payout ratio of 29%. This change is effective for the March 2016 dividend. Importantly, Black Diamond is now expected to remain in compliance with its excess cash flow covenant, which we had previously expected the Company would violate in 2Q16e. (See page 3). The only update to our forecast is the reduction in the dividend, which is positive for Black Diamo ....
21 Mar 2016
Reduces Dividend 50%
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Reduces Dividend 50%
Black Diamond Group Limited (BDI:TSE) | 0 0 1.4% | Mkt Cap: 165.7m
- Published:
21 Mar 2016 -
Author:
Ian B. Gillies -
Pages:
4
Black Diamond has reduced its monthly dividend by 50% to $0.025/share from $0.050 share. The new dividend implies a yield of 6.6% and 2016e payout ratio of 29%. This change is effective for the March 2016 dividend. Importantly, Black Diamond is now expected to remain in compliance with its excess cash flow covenant, which we had previously expected the Company would violate in 2Q16e. (See page 3). The only update to our forecast is the reduction in the dividend, which is positive for Black Diamo ....