Q: What do you think of their latest announcement
5i Research Answer:
We would not view the Apollo deal as 'bad' and we think quite positive. But the company at its investor day also outlined its initiatives into 2030. It is targetting 8% to 10% free cash flow growth. Dividend growth is expected at 2% to 4%. These numbers are OK, but we think investors are disappointed that dividend growth is not set higher. CPX is taking a 'growth' route and this may be at the expense of dividend growth and this has disappointed some.