21:59:41 EDT Wed 01 May 2024
Enter Symbol
or Name
USA
CA



Extendicare Inc (2)
Symbol EXE
Shares Issued 83,383,698
Close 2024-04-10 C$ 7.30
Market Cap C$ 608,700,995
Recent Sedar Documents

Globe says Extendicare worth consideration

2024-04-10 07:29 ET - In the News

The Globe and Mail reports in its Wednesday, April 10, edition that as a big segment of the population reaches their later golden years, Extendicare may offer some opportunities. The Globe's guest columnist Benj Gallander and Ben Stadelmann write that in 2014 and 2019 the share price was $7.01 and $8.30. It is currently a middling $7.25 or so and certainly has not performed as anticipated. In 2014, Extendicare was looking at strategic alternatives, code words for a sale, which normally happens at a premium. That did not transpire. With cash and cash equivalents of $75-million, Extendicare seems to have its expansion plans reasonably covered. If all goes as planned, the growth will likely lead to a higher share price. Longer term, annual revenues over the past decade have bloomed from $816-million to $1.3-billion. The debt load has been gradually creeping up also, currently at $334.5-million -- not light, but certainly not arduous. Insiders are well vested in the company, holding about 13.65 per cent. For now, Extendicare is offering a fat dividend that pays about 6.5 per cent. The boost in the return because of the dividend tax credit will also be a boon for investors.

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