Reported Earnings • May 06
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: EPS: CA$0.53 (up from CA$0.47 in 1Q 2025). Revenue: CA$105.7m (up 5.0% from 1Q 2025). Net income: CA$5.97m (up 17% from 1Q 2025). Profit margin: 5.6% (up from 5.1% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.8%. Earnings per share (EPS) also missed analyst estimates by 28%. Revenue is forecast to grow 2.9% p.a. on average during the next 2 years, compared to a 3.6% growth forecast for the Packaging industry in North America. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. New Risk • May 06
New major risk - Revenue and earnings growth Earnings have declined by 1.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.7% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (92% payout ratio). Profit margins are more than 30% lower than last year (3.8% net profit margin). Declared Dividend • Apr 26
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 30th April 2026 Payment date: 14th May 2026 Dividend yield will be 4.5%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not adequately covered by earnings (92% earnings payout ratio). However, it is well covered by cash flows (41% cash payout ratio). The dividend has increased by an average of 4.1% 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. The company's earnings per share (EPS) would need to grow by 2.1% to bring the payout ratio under control. EPS is expected to grow by 91% over the next 2 years, which is sufficient to bring the dividend into a sustainable range. Declared Dividend • Mar 25
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 31st March 2026 Payment date: 14th April 2026 Dividend yield will be 4.8%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not adequately covered by earnings (92% earnings payout ratio). However, it is well covered by cash flows (41% cash payout ratio). The dividend has increased by an average of 4.1% 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. The company's earnings per share (EPS) would need to grow by 2.1% to bring the payout ratio under control. EPS is expected to grow by 91% over the next 2 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Mar 21
Richards Group Inc. Announces Cash Dividend for the Month Ended March 31, 2026, Payable on April 14, 2026 Richards Group Inc. announced its cash dividend for the month ended March 31, 2026 of CAD 0.11 per share. This dividend will be to shareholders of record at the close of business on March 31, 2026 and will be payable on April 14, 2026. New Risk • Mar 19
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 92% Dividend yield: 4.7% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (92% payout ratio). Profit margins are more than 30% lower than last year (3.8% net profit margin). Reported Earnings • Mar 17
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: CA$1.44 (down from CA$3.27 in FY 2024). Revenue: CA$430.2m (up 5.5% from FY 2024). Net income: CA$16.4m (down 54% from FY 2024). Profit margin: 3.8% (down from 8.8% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 18%. Revenue is forecast to grow 4.4% p.a. on average during the next 2 years, while revenues in the Packaging industry in Canada are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Announcement • Mar 10
Richards Group Inc., Annual General Meeting, May 01, 2026 Richards Group Inc., Annual General Meeting, May 01, 2026. New Risk • Mar 09
New major risk - Revenue and earnings growth Earnings have declined by 1.9% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.9% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (5.3% net profit margin). Declared Dividend • Feb 20
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 27th February 2026 Payment date: 13th March 2026 Dividend yield will be 4.6%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (65% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has increased by an average of 4.1% 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. EPS is expected to grow by 56% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 18
Richards Group Inc. Announces Cash Dividend for the Month Ending February 28, 2026, Payable on March 13, 2026 Richards Group Inc. announced on February 18, 2026 its cash dividend for the month ending February 28, 2026 of CAD 0.11 per share. This dividend will be to shareholders of record at the close of business on February 27, 2026 and will be payable on March 13, 2026. Declared Dividend • Jan 22
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 30th January 2026 Payment date: 13th February 2026 Dividend yield will be 4.7%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (65% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has increased by an average of 4.1% 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. EPS is expected to grow by 56% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jan 20
Richards Group Inc. Announces Cash Dividend for the Month Ended January 31, 2026, Payable on February 13, 2026 Richards Group Inc. announced on January 19, 2026, its cash dividend for the month ended January 31, 2026 of CAD 0.11 per share. This dividend will be to shareholders of record at the close of business on January 30, 2026 and will be payable on February 13, 2026. Declared Dividend • Dec 26
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 31st December 2025 Payment date: 14th January 2026 Dividend yield will be 4.3%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (65% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has increased by an average of 4.1% 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. The company's earnings per share (EPS) would need to decline by 28% to shift the payout ratio to a potentially unsustainable range, which is more than the 7.8% EPS decline seen over the last 5 years. Announcement • Dec 25
Richards Group Inc. announces Monthly dividend, payable on January 14, 2026 Richards Group Inc. announced Monthly dividend of CAD 0.1100 per share payable on January 14, 2026, ex-date on December 31, 2025 and record date on December 31, 2025. Declared Dividend • Nov 21
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 28th November 2025 Payment date: 12th December 2025 Dividend yield will be 4.9%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (65% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has increased by an average of 4.1% 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. The company's earnings per share (EPS) would need to decline by 28% to shift the payout ratio to a potentially unsustainable range, which is more than the 7.7% EPS decline seen over the last 5 years. Announcement • Nov 20
Richards Packaging Income Fund Announces Cash Distribution for the Month Ended November 30, 2025, Payable on December 12, 2025 Richards Packaging Income Fund announced its cash distribution for the month ended November 30, 2025 of CAD 0.11 per unit. This distribution will be to unitholders of record at the close of business on November 28, 2025 and will be payable on December 12, 2025. Recent Insider Transactions Derivative • Nov 18
Chief Financial Officer exercised options to buy CA$868k worth of stock. On the 17th of November, Enzio Di Gennaro exercised options to buy 31k shares at a strike price of around CA$32.88, costing a total of CA$1.0m. This transaction amounted to 51% of their direct individual holding at the time of the trade. Since June 2025, Enzio has owned 57.31k shares directly. Company insiders have collectively bought CA$1.4m more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions • Nov 07
CEO, President & Trustee recently bought CA$62k worth of stock On the 5th of November, John Glynn bought around 2k shares on-market at roughly CA$31.14 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. John has been a buyer over the last 12 months, purchasing a net total of CA$173k worth in shares. Reported Earnings • Nov 02
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: CA$0.47 (down from CA$0.63 in 3Q 2024). Revenue: CA$108.5m (up 11% from 3Q 2024). Net income: CA$5.13m (down 26% from 3Q 2024). Profit margin: 4.7% (down from 7.1% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 28%. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Packaging industry in Canada. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 12% per year. Declared Dividend • Oct 22
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 31st October 2025 Payment date: 14th November 2025 Dividend yield will be 4.0%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (60% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 4.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 31% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 21
Richards Packaging Income Fund Announces October 2025 Distribution, Payable on November 14, 2025 Richards Packaging Income Fund announced its cash distribution for the month ended October 31, 2025 of CAD 0.11 per unit. This distribution will be to unitholders of record at the close of business on October 31, 2025 and will be payable on November 14, 2025. Declared Dividend • Sep 28
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 29th September 2025 Payment date: 14th October 2025 Dividend yield will be 3.9%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (60% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 4.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 31% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Sep 20
Richards Packaging Income Fund Announces September 2025 Distribution, Payable on October 14, 2025 Richards Packaging Income Fund announced its cash distribution for the month ended September 30, 2025 of CAD 0.11 per unit. This distribution will be to unitholders of record at the close of business on September 29, 2025 and will be payable on October 14, 2025. Declared Dividend • Aug 25
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 29th August 2025 Payment date: 12th September 2025 Dividend yield will be 4.0%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (60% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 4.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 31% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 23
Richards Packaging Income Fund announces Monthly dividend, payable on September 12, 2025 Richards Packaging Income Fund announced Monthly dividend of CAD 0.1100 per share payable on September 12, 2025, ex-date on August 29, 2025 and record date on August 29, 2025. Reported Earnings • Jul 29
Second quarter 2025 earnings released: EPS: CA$0.32 (vs CA$1.08 in 2Q 2024) Second quarter 2025 results: EPS: CA$0.32 (down from CA$1.08 in 2Q 2024). Revenue: CA$110.1m (up 2.5% from 2Q 2024). Net income: CA$3.49m (down 70% from 2Q 2024). Profit margin: 3.2% (down from 11% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.9% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Packaging industry in Canada. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 23
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 31st July 2025 Payment date: 14th August 2025 Dividend yield will be 4.0%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (45% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 4.1% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Announcement • Jul 18
Richards Packaging Income Fund Announces Distribution for the Month Ended July 31, 2025, Payable on August 14, 2025 Richards Packaging Income Fund announced its cash distribution for the month ended July 31, 2025 of CAD 0.11 per unit. This distribution will be to unitholders of record at the close of business on July 31, 2025 and will be payable on August 14, 2025. Unitholders who are non-residents of Canada may be required to pay all withholding taxes payable in respect of any distributions of income by the Fund, whether such distributions are in the form of cash or additional units. Recent Insider Transactions • Jun 27
CEO, President & Trustee recently bought CA$104k worth of stock On the 24th of June, John Glynn bought around 3k shares on-market at roughly CA$32.49 per share. This transaction amounted to 25% 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 John's only on-market trade for the last 12 months. Declared Dividend • Jun 23
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 30th June 2025 Payment date: 14th July 2025 Dividend yield will be 4.1%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (45% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 4.1% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Announcement • Jun 20
Richards Packaging Income Fund Announces Monthly Dividend for the Month Ended June 30, 2025, Payable on July 14, 2025 Richards Packaging Income Fund announced its cash distribution for the month ended June 30, 2025 of CAD 0.11 per unit. This distribution will be to unitholders of record at the close of business on June 30, 2025 and will be payable on July 14, 2025. Declared Dividend • May 22
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 30th May 2025 Payment date: 13th June 2025 Dividend yield will be 4.5%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (45% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 4.1% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Announcement • May 21
Richards Packaging Income Fund announces Monthly dividend, payable on June 13, 2025 Richards Packaging Income Fund announced Monthly dividend of CAD 0.1100 per share payable on June 13, 2025, ex-date on May 30, 2025 and record date on May 30, 2025. New Risk • May 12
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 4.8% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • May 07
First quarter 2025 earnings released First quarter 2025 results: Net income: (down CA$8.49m from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Price Target Changed • May 06
Price target decreased by 9.5% to CA$38.00 Down from CA$42.00, the current price target is provided by 1 analyst. New target price is 41% above last closing price of CA$27.02. Stock is down 15% over the past year. The company posted earnings per share of CA$3.27 last year. Declared Dividend • Apr 24
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 30th April 2025 Payment date: 14th May 2025 Dividend yield will be 4.8%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has increased by an average of 6.7% 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 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Apr 21
Richards Packaging Income Fund Announces Cash Distribution for the Month Ended April 30, 2025, Payable on May 14, 2025 Richards Packaging Income Fund announced Cash Distribution for the Month Ended April 30, 2025, Payable on May 14, 2025. For the period, the company reported dividend of CAD 0.11 per unit payable to shareholder of record April 30, 2025. Announcement • Mar 29
Richards Packaging Income Fund Announces Passing of Mr. Gerry Glynn as Trustee It is with great sadness that the Boards of Trustees of Richards Packaging Income Fund announced the passing of Gerry Glynn, Trustee. Gerry passed peacefully in his sleep after a battle with his declining health. He was 67 years old. Gerry's seat on the Board will be vacant until a new Trustee is proposed and confirmed at the annual general meeting of Unitholders scheduled on May 2, 2025. Declared Dividend • Mar 23
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 31st March 2025 Payment date: 14th April 2025 Dividend yield will be 4.8%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has increased by an average of 6.7% 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 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 20
Richards Packaging Income Fund Announces Cash Distribution for the Month Ended March 31, 2025, Payable on April 14, 2025 Richards Packaging Income Fund announced its cash distribution for the month ended March 31, 2025 of CAD 0.11 per unit. This distribution will be to unitholders of record at the close of business on March 31, 2025 and will be payable on April 14, 2025. Reported Earnings • Mar 11
Full year 2024 earnings released: EPS: CA$3.27 (vs CA$3.55 in FY 2023) Full year 2024 results: EPS: CA$3.27 (down from CA$3.55 in FY 2023). Revenue: CA$407.8m (down 4.3% from FY 2023). Net income: CA$35.8m (down 7.8% from FY 2023). Profit margin: 8.8% (down from 9.1% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 2 years, compared to a 3.7% growth forecast for the Packaging industry in Canada. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • Mar 10
Richards Packaging Income Fund, Annual General Meeting, May 02, 2025 Richards Packaging Income Fund, Annual General Meeting, May 02, 2025. Declared Dividend • Feb 21
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 28th February 2025 Payment date: 14th March 2025 Dividend yield will be 5.8%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has increased by an average of 6.7% 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 7.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 18
Richards Packaging Income Fund Announces Cash Distribution for the Month Ended February 28, 2025, Payable on March 14, 2025 Richards Packaging Income Fund announced its cash distribution for the month ended February 28, 2025 of CAD 0.11 per unit. This distribution will be to unitholders of record at the close of business on February 28, 2025 and will be payable on March 14, 2025. Declared Dividend • Jan 23
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 31st January 2025 Payment date: 14th February 2025 Dividend yield will be 5.3%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has increased by an average of 7.9% 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 7.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jan 21
Richards Packaging Income Fund Announces January 2025 Distribution, Payable on February 14, 2025 Richards Packaging Income Fund announced its cash distribution for the month ended January 31, 2025 of CAD 0.11 per unit. This distribution will be to unitholders of record at the close of business on January 31, 2025 and will be payable on February 14, 2025. Declared Dividend • Dec 23
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 31st December 2024 Payment date: 14th January 2025 Dividend yield will be 5.7%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has increased by an average of 7.9% 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 7.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Dec 20
Richards Packaging Income Fund Announces December 2024 Distribution, Payable on January 14, 2025 Richards Packaging Income Fund announced its cash distribution for the month ended December 31, 2024 of CAD 0.11 per unit. This distribution will be to unitholders of record at the close of business on December 31, 2024 and will be payable on January 14, 2025. Declared Dividend • Nov 21
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 29th November 2024 Payment date: 13th December 2024 Dividend yield will be 5.7%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has increased by an average of 7.9% 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 7.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Nov 20
Richards Packaging Income Fund Announces November 2024 Distribution, Payable on December 13, 2024 Richards Packaging Income Fund announced its cash distribution for the month ended November 30, 2024 of CAD 0.11 per unit. This distribution will be to unitholders of record at the close of business on November 29, 2024 and will be payable on December 13, 2024. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: CA$0.63 (vs CA$0.73 in 3Q 2023) Third quarter 2024 results: EPS: CA$0.63 (down from CA$0.73 in 3Q 2023). Revenue: CA$97.7m (down 3.7% from 3Q 2023). Net income: CA$6.92m (down 14% from 3Q 2023). Profit margin: 7.1% (down from 7.9% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.6% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Packaging industry in Canada. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Declared Dividend • Oct 23
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 31st October 2024 Payment date: 14th November 2024 Dividend yield will be 5.3%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 7.9% 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 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Oct 18
Richards Packaging Income Fund Announces Cash Distribution for the Month Ended October 31, 2024 , Payable on November 14, 2024 Richards Packaging Income Fund announced its cash distribution for the month ended October 31, 2024 of CAD 0.11 per unit. This distribution will be to unitholders of record at the close of business on October 31, 2024 and will be payable on November 14, 2024. Unitholders who are non-residents of Canada may be required to pay all withholding taxes payable in respect of any distributions of income by the Fund, whether such distributions are in the form of cash or additional units. Declared Dividend • Sep 23
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 27th September 2024 Payment date: 11th October 2024 Dividend yield will be 5.3%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 5.3% 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 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Sep 20
Richards Packaging Income Fund Announces Cash Distribution for the Month Ended September 30, 2024, Payable on October 11, 2024 Richards Packaging Income Fund announced its cash distribution for the month ended September 30, 2024 of CAD 0.11 per unit. This distribution will be to unitholders of record at the close of business on September 27, 2024 and will be payable on October 11, 2024. Declared Dividend • Aug 21
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 30th August 2024 Payment date: 13th September 2024 Dividend yield will be 5.4%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 5.3% 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 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Aug 19
Richards Packaging Income Fund Announces Cash Distribution for the Month Ended August 31, 2024, Payable on September 13, 2024 Richards Packaging Income Fund announced its cash distribution for the month ended August 31, 2024 of CAD 0.11 per unit. This distribution will be to unitholders of record at the close of business on August 30, 2024 and will be payable on September 13, 2024. Reported Earnings • Aug 04
Second quarter 2024 earnings released: EPS: CA$1.08 (vs CA$1.00 in 2Q 2023) Second quarter 2024 results: EPS: CA$1.08 (up from CA$1.00 in 2Q 2023). Revenue: CA$107.4m (down 1.3% from 2Q 2023). Net income: CA$11.8m (up 8.2% from 2Q 2023). Profit margin: 11% (up from 10.0% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 2 years compared to a 4.1% growth forecast for the Packaging industry in Canada. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 24
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 31st July 2024 Payment date: 14th August 2024 Dividend yield will be 5.3%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (19% cash payout ratio). The dividend has increased by an average of 5.3% 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 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 20
Richards Packaging Income Fund Announces Cash Distribution for the Month Ended July 31, 2024, Payable on August 14, 2024 Richards Packaging Income Fund announced its cash distribution for the month ended July 31, 2024 of CAD 0.11 per unit. This distribution will be to unitholders of record at the close of business on July 31, 2024 and will be payable on August 14, 2024. Unitholders who are non-residents of Canada may be required to pay all withholding taxes payable in respect of any distributions of income by the Fund, whether such distributions are in the form of cash or additional units. Declared Dividend • Jun 23
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 28th June 2024 Payment date: 12th July 2024 Dividend yield will be 5.5%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased by an average of 7.9% 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 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jun 19
Richards Packaging Income Fund Announces Cash Distribution for the Month Ended June 30, 2024, Payable on July 12, 2024 Richards Packaging Income Fund announced its cash distribution for the month ended June 30, 2024 of CAD 0.11 per unit. This distribution will be to unitholders of record at the close of business on June 28, 2024 and will be payable on July 12, 2024. Declared Dividend • May 23
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 31st May 2024 Payment date: 14th June 2024 Dividend yield will be 5.6%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased by an average of 7.9% 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 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 23
Richards Packaging Income Fund Announces Cash Distribution for the Month Ended May 31, 2024, Payable on June 14, 2024 Richards Packaging Income Fund announced its cash distribution for the month ended May 31, 2024 of CAD 0.11 per unit. This distribution will be to unitholders of record at the close of business on May 31, 2024 and will be payable on June 14, 2024. Price Target Changed • May 06
Price target decreased by 9.7% to CA$42.00 Down from CA$46.50, the current price target is provided by 1 analyst. New target price is 32% above last closing price of CA$31.77. Stock is down 16% over the past year. The company posted earnings per share of CA$3.55 last year. Reported Earnings • May 03
First quarter 2024 earnings released: EPS: CA$0.78 (vs CA$0.89 in 1Q 2023) First quarter 2024 results: EPS: CA$0.78 (down from CA$0.89 in 1Q 2023). Revenue: CA$97.9m (down 8.4% from 1Q 2023). Net income: CA$8.49m (down 13% from 1Q 2023). Profit margin: 8.7% (down from 9.2% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.2% p.a. on average during the next 2 years, compared to a 3.8% growth forecast for the Packaging industry in Canada. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Declared Dividend • Apr 24
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 29th April 2024 Payment date: 14th May 2024 Dividend yield will be 5.1%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 7.9% 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 9.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Apr 20
Richards Packaging Income Fund Announces Cash Distribution for the Month Ended April 30, 2024, Payable on May 14, 2024 Richards Packaging Income Fund announced its cash distribution for the month ended April 30, 2024 of CAD 0.11 per unit. This distribution will be to unitholders of record at the close of business on April 30, 2024 and will be payable on May 14, 2024. Recent Insider Transactions • Mar 24
Independent Chairman of the Board recently sold CA$154k worth of stock On the 20th of March, Donald Wright sold around 5k shares on-market at roughly CA$32.14 per share. This transaction amounted to 96% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Donald's only on-market trade for the last 12 months. Declared Dividend • Mar 21
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 27th March 2024 Payment date: 12th April 2024 Dividend yield will be 5.2%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 5.3% 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. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Announcement • Mar 20
Richards Packaging Income Fund Announces Cash Distribution for the Month Ended March 31, 2024, Payable on April 12, 2024 Richards Packaging Income Fund announced its cash distribution for the month ended March 31, 2024 of CAD 0.11 per unit. This distribution will be to unitholders of record at the close of business on March 28, 2024 and will be payable on April 12, 2024. Unitholders who are non-residents of Canada may be required to pay all withholding taxes payable in respect of any distributions of income by the Fund, whether such distributions are in the form of cash or additional units. Declared Dividend • Mar 11
Dividend of CA$0.36 announced Shareholders will receive a dividend of CA$0.36. Ex-date: 15th March 2024 Payment date: 26th March 2024 Dividend yield will be 5.0%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 5.3% 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. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Announcement • Mar 09
Richards Packaging Income Fund, Annual General Meeting, May 02, 2024 Richards Packaging Income Fund, Annual General Meeting, May 02, 2024. Reported Earnings • Mar 08
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: CA$3.55 (down from CA$4.12 in FY 2022). Revenue: CA$425.9m (down 4.7% from FY 2022). Net income: CA$38.9m (down 14% from FY 2022). Profit margin: 9.1% (down from 10% in FY 2022). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates by 5.4%. Revenue is forecast to stay flat during the next 2 years compared to a 3.5% growth forecast for the Packaging industry in Canada. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Declared Dividend • Feb 22
Dividend of CA$0.11 announced Shareholders will receive a dividend of CA$0.11. Ex-date: 28th February 2024 Payment date: 14th March 2024 Dividend yield will be 5.1%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 5.3% 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. EPS is expected to grow by 2.8% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 21
Richards Packaging Income Fund Announces Cash Distribution for the Month Ended February 29, 2024, Payable on March 14, 2024 Richards Packaging Income Fund announced its cash distribution for the month ended February 29, 2024 of CAD 0.11 per unit. This distribution will be to unitholders of record at the close of business on February 29, 2024 and will be payable on March 14, 2024. Unitholders who are non-residents of Canada may be required to pay all withholding taxes payable in respect of any distributions of income by the Fund, whether such distributions are in the form of cash or additional units. Announcement • Jan 19
Richards Packaging Income Fund Announces Its Cash Distribution for the Month Ended January 31, 2024, Payable on February 14, 2024 Richards Packaging Income Fund announced its cash distribution for the month ended January 31, 2024 of CAD 0.11 per unit. This distribution will be to unitholders of record at the close of business on January 31, 2024 and will be payable on February 14, 2024. Unitholders who are non-residents of Canada may be required to pay all withholding taxes payable in respect of any distributions of income by the Fund, whether such distributions are in the form of cash or additional units. Announcement • Nov 21
Richards Packaging Income Fund Announces November 2023 Distribution, December 14, 2023 Richards Packaging Income Fund (the ‘Fund’) announced its cash distribution for the month ended November 30, 2023 of CAD 0.11 per unit. This distribution will be to unitholders of record at the close of business on November 30, 2023 and will be payable on December 14, 2023. Unitholders who are non-residents of Canada may be required to pay all withholding taxes payable in respect of any distributions of income by the Fund, whether such distributions are in the form of cash or additional units. Recent Insider Transactions • Nov 13
President & VP of Corporate Development recently bought CA$75k worth of stock On the 9th of November, John Glynn bought around 2k shares on-market at roughly CA$35.29 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. John has been a buyer over the last 12 months, purchasing a net total of CA$397k worth in shares.