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  5. ITP: What's your view on ITP for a dividend portfolio? [Intertape Polymer Group Inc.]
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Q: What's your view on ITP for a dividend portfolio?

Asked by Serei on September 28, 2021
5i Research Answer:

ITP offers a good dividend of 2.4%, has positive free cash flows, has an expanding balance sheet, and is profitable. It has a bit more debt than we would prefer, but it is able to cover interest expenses and is currently at a cheap valuation. EPS growth is expected to accelerate over the coming years management raised guidance in the recent quarter. We think ITP looks good as part of a dividend portfolio, but we would perhaps temper growth expectations. It will likely rise in line with GDP; most of its cost-savings measures are likely already in place.