18:25:46 EDT Thu 18 Apr 2024
Enter Symbol
or Name
USA
CA



Corus Entertainment Inc
Symbol CJR
Shares Issued 84,237,997
Close 2016-02-08 C$ 9.31
Market Cap C$ 784,255,752
Recent Sedar Documents

Inv Reporter says resume buying Corus Entertainment

2016-02-08 21:12 ET - In the News

The Investment Reporter, in its Jan. 29, 2016, issue, says buy Corus Entertainment Inc., recently $11.71. The Reporter said buy eight times from Jan. 4, 2008, to Nov. 7, 2014, at prices ranging from $19.20 to $48.53 (the stock split 2 for 1 on Jan. 30, 2008). Assuming an investment of $1,000 for each of the eight buys, the $8,000 position would now be worth $4,110. The newsletter then downgraded the stock to hold in April, 2015. Corus is making a "transformational acquisition"; it is acquiring the media business of Shaw Communications for $2.64-billion. The company is financing the purchase with cash of $1.85-billion and the issuance of 71 million Corus shares to Shaw at $11.21 per share. The transaction will add to Corus's earnings and free cash flow, in addition to cost reductions. With the combined free cash flow of $430-million, Corus should manage to reduce its debt while maintaining its $1.14 annual dividend, which is now a 9.9-per-cent yield. In the fiscal 2015 first quarter ended Nov. 30, 2015, the company earned an adjusted $42.5-million, down from an adjusted $51.9-million a year earlier. The stock is now back on buy for exceptional dividends while you wait for a share price recovery.

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