Buy Or Sell Opportunity • Jul 06
Now 21% undervalued Over the last 90 days, the stock has risen 22% to CA$27.02. The fair value is estimated to be CA$34.34, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Earnings per share has grown by 43%. Upcoming Dividend • May 22
Upcoming dividend of CA$0.10 per share Eligible shareholders must have bought the stock before 29 May 2026. Payment date: 15 June 2026. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Canadian dividend payers (5.5%). Lower than average of industry peers (3.5%). Declared Dividend • May 06
First quarter dividend of CA$0.10 announced Shareholders will receive a dividend of CA$0.10. Ex-date: 29th May 2026 Payment date: 15th June 2026 Dividend yield will be 1.6%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (10% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 05
First quarter 2026 earnings released: EPS: CA$0.25 (vs CA$0.035 in 1Q 2025) First quarter 2026 results: EPS: CA$0.25 (up from CA$0.035 in 1Q 2025). Revenue: CA$36.0m (down 14% from 1Q 2025). Net income: CA$6.15m (up CA$5.31m from 1Q 2025). Profit margin: 17% (up from 2.0% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Declared Dividend • Mar 09
Fourth quarter dividend increased to CA$0.10 Dividend of CA$0.10 is 11% higher than last year. Ex-date: 16th March 2026 Payment date: 31st March 2026 Dividend yield will be 1.6%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (24% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 128% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 08
Full year 2025 earnings released: EPS: CA$2.30 (vs CA$1.67 in FY 2024) Full year 2025 results: EPS: CA$2.30 (up from CA$1.67 in FY 2024). Revenue: CA$227.5m (down 7.5% from FY 2024). Net income: CA$55.6m (up 36% from FY 2024). Profit margin: 24% (up from 17% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Mar 06
TWC Enterprises Limited Announces Cash Dividend, Payable on March 31, 2026 TWC Enterprises Limited announced an eligible cash dividend of 10 cents per common share to be paid on March 31, 2026 to shareholders of record as at March 16, 2026. This is an 11% increase to the previous quarterly dividend of 9 cents per common share. Announcement • Feb 24
TWC Enterprises Limited, Annual General Meeting, May 06, 2026 TWC Enterprises Limited, Annual General Meeting, May 06, 2026. Upcoming Dividend • Nov 24
Upcoming dividend of CA$0.09 per share Eligible shareholders must have bought the stock before 01 December 2025. Payment date: 15 December 2025. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Canadian dividend payers (6.0%). Lower than average of industry peers (3.6%). Declared Dividend • Nov 05
Third quarter dividend of CA$0.09 announced Shareholders will receive a dividend of CA$0.09. Ex-date: 1st December 2025 Payment date: 15th December 2025 Dividend yield will be 1.6%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (24% earnings payout ratio) and cash flows (19% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 3.6% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 02
Third quarter 2025 earnings released: EPS: CA$0.70 (vs CA$1.75 in 3Q 2024) Third quarter 2025 results: EPS: CA$0.70 (down from CA$1.75 in 3Q 2024). Revenue: CA$76.7m (up 13% from 3Q 2024). Net income: CA$16.9m (down 60% from 3Q 2024). Profit margin: 22% (down from 63% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 12% per year. Announcement • Nov 01
TWC Enterprises Limited Announces Eligible Cash Dividend, Payable on December 15, 2025 TWC Enterprises Limited announced an eligible cash dividend of 9 cents per common share to be paid on December 15, 2025 to shareholders of record as at December 1, 2025. Upcoming Dividend • Aug 22
Upcoming dividend of CA$0.09 per share Eligible shareholders must have bought the stock before 29 August 2025. Payment date: 15 September 2025. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Canadian dividend payers (6.0%). Lower than average of industry peers (3.9%). Declared Dividend • Aug 06
Second quarter dividend of CA$0.09 announced Shareholders will receive a dividend of CA$0.09. Ex-date: 29th August 2025 Payment date: 15th September 2025 Dividend yield will be 1.5%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (13% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 1.8% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 12% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 03
Second quarter 2025 earnings released: EPS: CA$0.88 (vs CA$0.13 in 2Q 2024) Second quarter 2025 results: EPS: CA$0.88 (up from CA$0.13 in 2Q 2024). Revenue: CA$61.6m (down 2.8% from 2Q 2024). Net income: CA$21.5m (up CA$18.3m from 2Q 2024). Profit margin: 35% (up from 5.0% in 2Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Jun 17
Now 21% undervalued Over the last 90 days, the stock has risen 19% to CA$21.17. The fair value is estimated to be CA$26.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Earnings per share has declined by 29%. Upcoming Dividend • May 23
Upcoming dividend of CA$0.09 per share Eligible shareholders must have bought the stock before 30 May 2025. Payment date: 16 June 2025. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Canadian dividend payers (6.1%). Lower than average of industry peers (3.7%). Declared Dividend • May 05
First quarter dividend of CA$0.09 announced Shareholders will receive a dividend of CA$0.09. Ex-date: 30th May 2025 Payment date: 16th June 2025 Dividend yield will be 1.9%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (19% earnings payout ratio) and cash flows (14% cash payout ratio). The dividend has increased by an average of 1.8% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 17% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 03
First quarter 2025 earnings released: EPS: CA$0.044 (vs CA$0.02 loss in 1Q 2024) First quarter 2025 results: EPS: CA$0.044 (up from CA$0.02 loss in 1Q 2024). Revenue: CA$40.8m (down 39% from 1Q 2024). Net income: CA$1.08m (up CA$1.58m from 1Q 2024). Profit margin: 2.7% (up from net loss in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • May 02
TWC Enterprises Limited Announces Cash Dividend, Payable on June 16, 2025 TWC Enterprises Limited announced an eligible cash dividend of 9 cents per common share to be paid on June 16, 2025 to shareholders of record as at May 30, 2025. Declared Dividend • Mar 10
Fourth quarter dividend increased to CA$0.09 Dividend of CA$0.09 is 20% higher than last year. Ex-date: 17th March 2025 Payment date: 31st March 2025 Dividend yield will be 1.7%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has increased by an average of 1.8% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 56% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 09
Full year 2024 earnings released: EPS: CA$1.66 (vs CA$0.93 in FY 2023) Full year 2024 results: EPS: CA$1.66 (up from CA$0.93 in FY 2023). Revenue: CA$241.6m (up 4.8% from FY 2023). Net income: CA$40.6m (up 77% from FY 2023). Profit margin: 17% (up from 9.9% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Mar 07
TWC Enterprises Limited Announces Cash Dividend, Payable on March 31, 2025 TWC Enterprises Limited announced an eligible cash dividend of 9 cents per common share to be paid on March 31, 2025 to shareholders of record as at March 17, 2025. This is a 20% increase to the previous quarterly dividend of 7.5 cents per common share. Announcement • Feb 27
TWC Enterprises Limited, Annual General Meeting, May 07, 2025 TWC Enterprises Limited, Annual General Meeting, May 07, 2025. Upcoming Dividend • Nov 26
Upcoming dividend of CA$0.075 per share Eligible shareholders must have bought the stock before 02 December 2024. Payment date: 16 December 2024. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Canadian dividend payers (6.2%). Lower than average of industry peers (3.4%). New Risk • Nov 12
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 108% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 08
Third quarter 2024 earnings released: EPS: CA$1.75 (vs CA$0.72 in 3Q 2023) Third quarter 2024 results: EPS: CA$1.75 (up from CA$0.72 in 3Q 2023). Revenue: CA$67.8m (down 1.9% from 3Q 2023). Net income: CA$42.7m (up 142% from 3Q 2023). Profit margin: 63% (up from 26% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Nov 08
TWC Enterprises Limited Announces Eligible Cash Dividend, Payable on December 16, 2024 TWC Enterprises Limited announced an eligible cash dividend of 7.5 cents per common share to be paid on December 16, 2024 to shareholders of record as at December 2, 2024. Upcoming Dividend • Aug 23
Upcoming dividend of CA$0.075 per share Eligible shareholders must have bought the stock before 30 August 2024. Payment date: 16 September 2024. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Canadian dividend payers (6.2%). Lower than average of industry peers (3.3%). Declared Dividend • Aug 07
Second quarter dividend of CA$0.075 announced Shareholders will receive a dividend of CA$0.075. Ex-date: 30th August 2024 Payment date: 16th September 2024 Dividend yield will be 1.6%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (24% earnings payout ratio) and cash flows (13% cash payout ratio). The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. Earnings per share has grown by 41% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 03
Second quarter 2024 earnings released: EPS: CA$0.13 (vs CA$0.33 in 2Q 2023) Second quarter 2024 results: EPS: CA$0.13 (down from CA$0.33 in 2Q 2023). Revenue: CA$62.2m (down 5.5% from 2Q 2023). Net income: CA$3.16m (down 61% from 2Q 2023). Profit margin: 5.1% (down from 12% in 2Q 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Aug 03
TWC Enterprises Limited Announces Cash Dividend, Payable on September 16, 2024 TWC Enterprises Limited announced an eligible cash dividend of 7.5 cents per common share to be paid on September 16, 2024 to shareholders of record as at August 30, 2024. Announcement • Jul 04
13th Floor Homes acquired Woodlands Country Club, Inc. from TWC Enterprises Limited (TSX:TWC) for $14 million. 13th Floor Homes acquired Woodlands Country Club, Inc. from TWC Enterprises Limited (TSX:TWC) for $14 million on July 3, 2024.13th Floor Homes completed the acquisition of Woodlands Country Club, Inc. from TWC Enterprises Limited (TSX:TWC) on July 3, 2024. Recent Insider Transactions • Jun 13
Chairman recently bought CA$750k worth of stock On the 10th of June, Kuldip Sahi bought around 41k shares on-market at roughly CA$18.12 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Kuldip's only on-market trade for the last 12 months. Upcoming Dividend • May 24
Upcoming dividend of CA$0.075 per share Eligible shareholders must have bought the stock before 31 May 2024. Payment date: 17 June 2024. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Canadian dividend payers (6.4%). Lower than average of industry peers (3.4%). Declared Dividend • May 01
First quarter dividend of CA$0.075 announced Shareholders will receive a dividend of CA$0.075. Ex-date: 31st May 2024 Payment date: 17th June 2024 Dividend yield will be 1.5%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. Earnings per share has grown by 34% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 28
First quarter 2024 earnings released: CA$0.029 loss per share (vs CA$0.33 loss in 1Q 2023) First quarter 2024 results: CA$0.029 loss per share (improved from CA$0.33 loss in 1Q 2023). Revenue: CA$65.3m (up 138% from 1Q 2023). Net loss: CA$701.0k (loss narrowed 91% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Apr 27
TWC Enterprises Limited Announces an Eligible Cash Dividend, Payable on June 17, 2024 TWC Enterprises Limited announced an eligible cash dividend of 7.5 cents per common share to be paid on June 17, 2024 to shareholders of record as at May 31, 2024. Upcoming Dividend • Mar 07
Upcoming dividend of CA$0.075 per share Eligible shareholders must have bought the stock before 14 March 2024. Payment date: 01 April 2024. Trailing yield: 1.8%. Lower than top quartile of Canadian dividend payers (6.5%). Lower than average of industry peers (3.1%). Reported Earnings • Mar 05
Full year 2023 earnings released: EPS: CA$0.90 (vs CA$0.77 in FY 2022) Full year 2023 results: EPS: CA$0.90 (up from CA$0.77 in FY 2022). Revenue: CA$225.9m (up 18% from FY 2022). Net income: CA$22.0m (up 18% from FY 2022). Profit margin: 9.8% (in line with FY 2022). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Feb 24
TWC Enterprises Limited, Annual General Meeting, May 08, 2024 TWC Enterprises Limited, Annual General Meeting, May 08, 2024. Upcoming Dividend • Nov 22
Upcoming dividend of CA$0.05 per share at 1.2% yield Eligible shareholders must have bought the stock before 29 November 2023. Payment date: 15 December 2023. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 1.2%. Lower than top quartile of Canadian dividend payers (6.7%). Lower than average of industry peers (3.2%). Reported Earnings • Nov 03
Third quarter 2023 earnings released: EPS: CA$0.72 (vs CA$0.49 in 3Q 2022) Third quarter 2023 results: EPS: CA$0.72 (up from CA$0.49 in 3Q 2022). Revenue: CA$67.6m (up 2.0% from 3Q 2022). Net income: CA$17.7m (up 48% from 3Q 2022). Profit margin: 26% (up from 18% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 11% per year. Announcement • Nov 03
TWC Enterprises Limited Announces Eligible Cash Dividend, Payable on December 15, 2023 TWC Enterprises Limited announced an eligible cash dividend of 5 cents per common share to be paid on December 15, 2023 to shareholders of record as at November 30, 2023. Announcement • Sep 26
An Unknown Buyer acquired Geranium Homes Inc from TWC Enterprises Limited (TSX:TWC) for CAD 12.5 million. An Unknown Buyer acquired Geranium Homes Inc from TWC Enterprises Limited (TSX:TWC) for CAD 12.5 million on September 20, 2023. Total proceeds for the transactions are CAD 12.5 million including deferred proceeds of CAD 5.3 million.
An Unknown Buyer completed the acquisition of Geranium Homes Inc from TWC Enterprises Limited (TSX:TWC) on September 20, 2023. Upcoming Dividend • Aug 23
Upcoming dividend of CA$0.05 per share at 1.1% yield Eligible shareholders must have bought the stock before 30 August 2023. Payment date: 15 September 2023. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Canadian dividend payers (6.2%). Lower than average of industry peers (3.1%). Reported Earnings • Aug 06
Second quarter 2023 earnings released: EPS: CA$0.33 (vs CA$0.15 in 2Q 2022) Second quarter 2023 results: EPS: CA$0.33 (up from CA$0.15 in 2Q 2022). Revenue: CA$64.7m (up 20% from 2Q 2022). Net income: CA$8.11m (up 126% from 2Q 2022). Profit margin: 13% (up from 6.7% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • Aug 05
TWC Enterprises Limited Announces Cash Dividend, Payable on September 15, 2023 TWC Enterprises Limited announced an eligible cash dividend of 5 cents per common share to be paid on September 15, 2023 to shareholders of record as at August 31, 2023. Upcoming Dividend • May 23
Upcoming dividend of CA$0.05 per share at 1.1% yield Eligible shareholders must have bought the stock before 30 May 2023. Payment date: 15 June 2023. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Canadian dividend payers (6.3%). Lower than average of industry peers (3.1%). Reported Earnings • Apr 29
First quarter 2023 earnings released: CA$0.33 loss per share (vs CA$0.036 loss in 1Q 2022) First quarter 2023 results: CA$0.33 loss per share (further deteriorated from CA$0.036 loss in 1Q 2022). Revenue: CA$26.5m (down 32% from 1Q 2022). Net loss: CA$8.05m (loss widened CA$7.17m from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 03
Full year 2022 earnings released: EPS: CA$0.77 (vs CA$3.65 in FY 2021) Full year 2022 results: EPS: CA$0.77 (down from CA$3.65 in FY 2021). Revenue: CA$190.8m (up 6.9% from FY 2021). Net income: CA$18.8m (down 79% from FY 2021). Profit margin: 9.8% (down from 50% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Nov 22
Upcoming dividend of CA$0.05 per share Eligible shareholders must have bought the stock before 29 November 2022. Payment date: 15 December 2022. Payout ratio is a comfortable 3.5% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Canadian dividend payers (5.9%). Lower than average of industry peers (3.4%). Board Change • Nov 17
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. Independent Director Fraser Berrill was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Buying Opportunity • Nov 03
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be CA$20.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 100%. Reported Earnings • Nov 03
Third quarter 2022 earnings released: EPS: CA$0.49 (vs CA$0.93 in 3Q 2021) Third quarter 2022 results: EPS: CA$0.49 (down from CA$0.93 in 3Q 2021). Revenue: CA$65.0m (flat on 3Q 2021). Net income: CA$11.9m (down 48% from 3Q 2021). Profit margin: 18% (down from 35% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Nov 01
TWC Enterprises Limited Announces Cash Dividend, Payable on December 15, 2022 TWC Enterprises Limited announced an eligible cash dividend of 5 cents per common share to be paid on December 15, 2022 to shareholders of record as at November 30, 2022. Upcoming Dividend • Aug 23
Upcoming dividend of CA$0.05 per share Eligible shareholders must have bought the stock before 30 August 2022. Payment date: 15 September 2022. Payout ratio is a comfortable 2.2% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Canadian dividend payers (5.4%). Lower than average of industry peers (3.6%). Announcement • Aug 10
TWC Enterprises Limited Announces Reinstatement of Dividend Reinvestment Plan TWC Enterprises Limited ("TWC") is reinstituting a Dividend Reinvestment Plan ("DRIP") to enable Canadian resident shareholders to automatically reinvest all of the cash dividends paid on their TWC common shares (the "TWC Shares") in additional TWC common shares (the "DRIP Shares"). Participation in the DRIP is optional and will not affect shareholders' cash dividends, unless they elect to participate in the DRIP. Only future dividends declared by TWC will be eligible for reinvestment in the DRIP, commencing with the dividend to be paid on September 15, 2022 for TWC shareholders on record as of August 31, 2022. TWC Shares to be issued under the DRIP will be issued from the treasury of TWC at a price equal to the volume-weighted average trading price of the TWC Shares on the Toronto Stock Exchange for the five (5) trading days immediately preceding the relevant dividend payment date. To participate in the DRIP, registered shareholders must deliver a properly completed enrollment form to TSX Trust Company (the "Agent") a minimum of five (5) business days before the applicable dividend record date. Registered shareholders who wish to participate in the DRIP for the September 15, 2022, dividend must deliver a completed enrollment form to the Agent no later than 5:00 p.m. (EDT time) on August 24, 2022. Beneficial shareholders who wish to participate in the DRIP should contact their financial advisor, broker, investment dealer, bank, financial institution or other intermediary through which they hold their TWC Shares to inquire about the applicable enrollment deadline and to request enrollment in the DRIP. TWC's shareholder, Mr. Rai Sahi, has indicated that the TWC Shares owned by him and his holding company will be participating in the DRIP. Mr. Sahi and his holding company own approximately 80% of TWC (on a non-diluted basis). No commissions, service charges or brokerage fees will be payable by participants in connection with the DRIP. However, beneficial shareholders who wish to participate in the DRIP through their financial advisor, broker, investment dealer, bank, financial institution or other intermediary should consult that intermediary to confirm what fees, if any, the nominee may charge to enroll in the DRIP on their behalf or whether the nominee's policies might result in any costs otherwise becoming payable by the beneficial shareholder. Commissions, service charges, brokerage fees and other administrative fees may be payable in connection with the termination of participation in the DRIP or the withdrawal or disposition of DRIP Shares. Participation in the DRIP does not relieve TWC shareholders of any liability for taxes that may be payable in respect of dividends that are reinvested in DRIP Shares. Shareholders should consult their tax advisors concerning the tax implications of their participation in the DRIP having regard to their particular circumstances. Reported Earnings • Aug 05
Second quarter 2022 earnings released: EPS: CA$0.15 (vs CA$0.18 in 2Q 2021) Second quarter 2022 results: EPS: CA$0.15 (down from CA$0.18 in 2Q 2021). Revenue: CA$52.7m (up 50% from 2Q 2021). Net income: CA$3.59m (down 20% from 2Q 2021). Profit margin: 6.8% (down from 13% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Aug 05
TWC Enterprises Limited Announces Cash Dividend, Payable on September 15, 2022 TWC Enterprises Limited announced an eligible cash dividend of 5 cents per common share to be paid on September 15, 2022 to shareholders of record as at August 31, 2022. This is an increase from 2 cents per common share. Upcoming Dividend • May 23
Upcoming dividend of CA$0.02 per share Eligible shareholders must have bought the stock before 30 May 2022. Payment date: 15 June 2022. Payout ratio is a comfortable 2.2% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Canadian dividend payers (4.9%). Lower than average of industry peers (4.1%). Reported Earnings • May 03
First quarter 2022 earnings released: CA$0.036 loss per share (vs CA$0.018 profit in 1Q 2021) First quarter 2022 results: CA$0.036 loss per share (down from CA$0.018 profit in 1Q 2021). Revenue: CA$38.9m (up 158% from 1Q 2021). Net loss: CA$885.0k (down 295% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • May 03
TWC Enterprises Limited Announces Cash Dividend, Payable on June 15, 2022 TWC Enterprises Limited announced an eligible cash dividend of 2 cents per common share to be paid on June 15, 2022 to shareholders of record as at May 31, 2022. Board Change • Apr 28
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. Independent Director Fraser Berrill was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 11
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: CA$3.65 (up from CA$0.037 in FY 2020). Revenue: CA$178.4m (up 35% from FY 2020). Net income: CA$89.9m (up CA$89.0m from FY 2020). Profit margin: 50% (up from 0.7% in FY 2020). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Nov 22
Upcoming dividend of CA$0.02 per share Eligible shareholders must have bought the stock before 29 November 2021. Payment date: 15 December 2021. Trailing yield: 0.5%. Lower than top quartile of Canadian dividend payers (4.5%). Lower than average of industry peers (3.5%). Reported Earnings • Nov 02
Third quarter 2021 earnings released: EPS CA$0.93 (vs CA$0.87 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: CA$63.2m (up 12% from 3Q 2020). Net income: CA$22.8m (up 1.5% from 3Q 2020). Profit margin: 36% (down from 40% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 23
Upcoming dividend of CA$0.02 per share Eligible shareholders must have bought the stock before 30 August 2021. Payment date: 15 September 2021. Trailing yield: 0.5%. Lower than top quartile of Canadian dividend payers (4.5%). Lower than average of industry peers (3.2%). Reported Earnings • Aug 08
Second quarter 2021 earnings released: EPS CA$0.18 (vs CA$0.099 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CA$34.1m (up 49% from 2Q 2020). Net income: CA$4.47m (up 72% from 2Q 2020). Profit margin: 13% (up from 11% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CA$18.49, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 29x in the Hospitality industry in Canada. Total returns to shareholders of 46% over the past three years. Valuation Update With 7 Day Price Move • Jun 25
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CA$20.80, the stock trades at a trailing P/E ratio of 15.7x. Average trailing P/E is 30x in the Hospitality industry in Canada. Total returns to shareholders of 66% over the past three years. Upcoming Dividend • May 21
Upcoming dividend of CA$0.02 per share Eligible shareholders must have bought the stock before 28 May 2021. Payment date: 15 June 2021. Trailing yield: 0.3%. Lower than top quartile of Canadian dividend payers (4.6%). Lower than average of industry peers (3.0%). Valuation Update With 7 Day Price Move • May 13
Investor sentiment improved over the past week After last week's 16% share price gain to CA$25.00, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 29x in the Hospitality industry in Canada. Total returns to shareholders of 128% over the past three years. Reported Earnings • May 04
First quarter 2021 earnings released: EPS CA$0.02 (vs CA$1.22 loss in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: CA$14.1m (down 33% from 1Q 2020). Net income: CA$455.0k (up CA$32.9m from 1Q 2020). Profit margin: 3.2% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Announcement • Apr 30
TWC Enterprises Limited Announces Cash Dividend, Payable on June 15, 2021 TWC Enterprises Limited announced an eligible cash dividend of 2 cents per common share to be paid on June 15, 2021 to shareholders of record as at May 31, 2021. Recent Insider Transactions • Mar 18
Chairman recently bought CA$809k worth of stock On the 12th of March, Kuldip Sahi bought around 43k shares on-market at roughly CA$18.75 per share. This was the largest purchase by an insider in the last 3 months. Kuldip has been a buyer over the last 12 months, purchasing a net total of CA$5.1m worth in shares. Is New 90 Day High Low • Mar 12
New 90-day high: CA$18.76 The company is up 13% from its price of CA$16.55 on 11 December 2020. The Canadian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 9.0% over the same period. Announcement • Mar 11
TWC Enterprises Limited, Annual General Meeting, May 05, 2021 TWC Enterprises Limited, Annual General Meeting, May 05, 2021. Reported Earnings • Mar 06
Full year 2020 earnings released: EPS CA$0.04 (vs CA$0.18 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: CA$127.2m (down 25% from FY 2019). Net income: CA$971.0k (down 80% from FY 2019). Profit margin: 0.8% (down from 2.9% in FY 2019). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 11
New 90-day high: CA$17.89 The company is up 38% from its price of CA$13.00 on 12 November 2020. The Canadian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 6.0% over the same period. Is New 90 Day High Low • Jan 22
New 90-day high: CA$17.50 The company is up 46% from its price of CA$12.00 on 22 October 2020. The Canadian market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 13% over the same period.