Q: Thoughts on latest quarter.
5i Research Answer:
Sales of $13.6M were slightly below estimates of $14.2M. Revenue did rise 16.9%. Organic growth was 6.8%. Distributable cash rose 14.8% in the quarter. Payout ratio was 94.4%. Mr. Lube continues to be the standout, and Air Miles continues to be very weak. Stratus contributed for the first time ($1.5M). Results are OK, nothing eventful here though. The stock remains cheap at 12X earnings. The dividend is likely secure, but DIV's small size and economic sensitivity are risk factors.