Declared Dividend • May 20
First quarter dividend of CA$0.39 announced Shareholders will receive a dividend of CA$0.39. Ex-date: 19th June 2026 Payment date: 6th July 2026 Dividend yield will be 2.1%, which is lower than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (60% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 10.0% 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 93% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • May 06
Cargojet Inc. announces Quarterly dividend, payable on July 06, 2026 Cargojet Inc. announced Quarterly dividend of CAD 0.3850 per share payable on July 06, 2026, ex-date on June 19, 2026 and record date on June 19, 2026. Tillkännagivande • Apr 06
Cargojet Inc. to Report Q1, 2026 Results on May 04, 2026 Cargojet Inc. announced that they will report Q1, 2026 results at 4:00 PM, US Eastern Standard Time on May 04, 2026 Tillkännagivande • Apr 01
Cargojet Inc. Approves the Election of Deepak Chopra as Director Cargojet Inc. at its annual meeting of shareholders held on March 31, 2026 approved the election of Deepak Chopra as Director. Tillkännagivande • Feb 25
Cargojet Inc. Declares Cash Dividend for the Period from January 1, 2026 to March 31, 2026, Payable on or Before April 2, 2026 Cargojet Inc. has declared a cash dividend of CAD 0.385 per common voting share and variable voting share for the period from January 1, 2026 to March 31, 2026, an increase of CAD 0.035 or 10% per share from the previous quarter. The record date for determining shareholders of the Corporation entitled to receive payment of the dividend of the Corporation shall be March 20, 2026 and the payment date for such dividend shall be on or before April 2, 2026. These dividends will be eligible dividends within the meaning of the Income Tax Act (Canada). Tillkännagivande • Jan 21
Cargojet Inc., Annual General Meeting, Mar 31, 2026 Cargojet Inc., Annual General Meeting, Mar 31, 2026. Tillkännagivande • Jan 15
Cargojet Inc. to Report Q4, 2025 Results on Feb 24, 2026 Cargojet Inc. announced that they will report Q4, 2025 results After-Market on Feb 24, 2026 Tillkännagivande • Nov 26
Cargojet Inc. Declares Quarterly Dividend, Payable on or Before January 5, 2026 The Board of Directors of Cargojet Inc. has declared a cash dividend of $0.35 per common voting share and variable voting share for the period from October 1, 2025 to December 31, 2025. The record date for determining shareholders of the Corporation entitled to receive payment of the dividend of the Corporation shall be December 20, 2025 and the payment date for such dividend shall be on or before January 5, 2026. Tillkännagivande • Oct 02
Cargojet Inc. to Report Q3, 2025 Results on Nov 04, 2025 Cargojet Inc. announced that they will report Q3, 2025 results After-Market on Nov 04, 2025 Tillkännagivande • Sep 17
Cargojet Inc. Declares Quarterly Dividend, Payable on or Before October 3, 2025 The Board of Directors of Cargojet Inc. has declared a cash dividend of $0.35 per common voting share and variable voting share for the period from July 1, 2025 to September 30, 2025. The record date for determining shareholders of the Corporation entitled to receive payment of the dividend of the Corporation shall be September 19, 2025 and the payment date for such dividend shall be on or before October 3, 2025. Tillkännagivande • Jul 03
Cargojet Inc. to Report Q2, 2025 Results on Aug 06, 2025 Cargojet Inc. announced that they will report Q2, 2025 results After-Market on Aug 06, 2025 Tillkännagivande • Jul 02
Cargojet Inc. announced that it has received CAD 250 million in funding On June 30, 2025, Cargojet Inc. closed the transaction. Tillkännagivande • Jun 05
Cargojet Inc. Declares Quarterly Dividend, Payable on or before July 4, 2025 The Board of Directors of Cargojet Inc. has declared a cash dividend of $0.35 per common voting share and variable voting share for the period from April 1, 2025 to June 30, 2025. The record date for determining shareholders of the Corporation entitled to receive payment of the dividend of the Corporation shall be June 20, 2025 and the payment date for such dividend shall be on or before July 4, 2025. Tillkännagivande • Feb 21
Cargojet Inc. Declares Quarterly Dividend for the Period from January 1, 2025 to March 31, 2025, Payable on or Before April 4, 2025 The Board of Directors of Cargojet Inc. has declared a cash dividend of $0.35 per common voting share and variable voting share for the period from January 1, 2025 to March 31, 2025. The record date for determining shareholders of the Corporation entitled to receive payment of the dividend of the Corporation shall be March 20, 2025 and the payment date for such dividend shall be on or before April 4, 2025. Tillkännagivande • Jan 22
Cargojet Inc., Annual General Meeting, Apr 03, 2025 Cargojet Inc., Annual General Meeting, Apr 03, 2025. Tillkännagivande • Jan 18
Cargojet Inc. to Report Q4, 2024 Results on Feb 17, 2025 Cargojet Inc. announced that they will report Q4, 2024 results After-Market on Feb 17, 2025 Tillkännagivande • Jan 16
Cargojet Announces Chief Financial Officer Changes Cargojet Inc. announced that its Chief Financial Officer (CFO), Scott Calver, is on medical leave until further notice. The company supports Scott during this time and wishes him a full and speedy recovery. In the interim, Sanjeev Maini, Vice President – Finance, will assume the role of acting CFO. Mr. Maini has been with the company for over two decades and has previously served as the acting CFO during 2021. He is well-positioned to continue the company's financial operations and ensure a smooth transition. Tillkännagivande • Nov 13
Cargojet Inc. Declares Quarterly Dividend for the Period from October 1, 2024 to December 31, 2024, Payable on or Before January 3, 2025 The Board of Directors of Cargojet Inc. has declared a cash dividend of $0.35 per common voting share and variable voting share for the period from October 1, 2024 to December 31, 2024. The record date for determining shareholders of the Corporation entitled to receive payment of the dividend of the Corporation shall be December 20, 2024 and the payment date for such dividend shall be on or before January 3, 2025. These dividends will be eligible dividends within the meaning of the Income Tax Act (Canada). New Risk • Nov 07
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 62% 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. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.3x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Reported Earnings • Nov 05
Third quarter 2024 earnings released: EPS: CA$1.85 (vs CA$0.61 in 3Q 2023) Third quarter 2024 results: EPS: CA$1.85 (up from CA$0.61 in 3Q 2023). Revenue: CA$245.6m (up 15% from 3Q 2023). Net income: CA$29.7m (up 183% from 3Q 2023). Profit margin: 12% (up from 4.9% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Logistics industry in Europe. 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 14% per year, which means it has not declined as severely as earnings. New Risk • Oct 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 8.7% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.9x net interest cover). Minor Risk Shareholders have been diluted in the past year (8.7% increase in shares outstanding). Tillkännagivande • Oct 11
Cargojet Inc. to Report Q3, 2024 Results on Nov 04, 2024 Cargojet Inc. announced that they will report Q3, 2024 results After-Market on Nov 04, 2024 Upcoming Dividend • Sep 13
Upcoming dividend of CA$0.35 per share Eligible shareholders must have bought the stock before 20 September 2024. Payment date: 04 October 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (2.8%). Declared Dividend • Aug 19
Second quarter dividend of CA$0.35 announced Shareholders will receive a dividend of CA$0.35. Ex-date: 20th September 2024 Payment date: 4th October 2024 Dividend yield will be 1.2%, which is lower than the industry average of 3.1%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (67% cash payout ratio). The dividend has increased by an average of 8.9% 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. Tillkännagivande • Aug 15
Cargojet Inc. Declares Quarterly Dividend, Payable on or before October 4, 2024 The Board of Directors of Cargojet Inc. has declared a cash dividend of $0.35 per common voting share and variable voting share for the period from July 1, 2024 to September 30, 2024, an increase of $0.0354 or 11.25% per share from the previous quarter. The record date for determining shareholders of the Corporation entitled to receive payment of the dividend of the Corporation shall be September 20, 2024 and the payment date for such dividend shall be on or before October 4, 2024. Reported Earnings • Aug 14
Second quarter 2024 earnings released: CA$1.53 loss per share (vs CA$1.81 profit in 2Q 2023) Second quarter 2024 results: CA$1.53 loss per share (down from CA$1.81 profit in 2Q 2023). Revenue: CA$230.8m (up 10% from 2Q 2023). Net loss: CA$25.0m (down 180% from profit in 2Q 2023). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Logistics industry in Europe. Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 15% per year. Recent Insider Transactions • Jul 05
Founder & Executive Chairman recently sold €721k worth of stock On the 28th of June, Ajay Virmani sold around 8k shares on-market at roughly €95.88 per share. This transaction amounted to 2.3% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €8.6m. Ajay has been a net seller over the last 12 months, reducing personal holdings by €9.4m. Tillkännagivande • Jul 04
Cargojet Inc. to Report Q2, 2024 Results on Aug 13, 2024 Cargojet Inc. announced that they will report Q2, 2024 results After-Market on Aug 13, 2024 Recent Insider Transactions • Jun 23
Founder & Executive Chairman recently sold €8.6m worth of stock On the 17th of June, Ajay Virmani sold around 100k shares on-market at roughly €85.78 per share. This transaction amounted to 24% 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 Ajay's only on-market trade for the last 12 months. Upcoming Dividend • Jun 13
Upcoming dividend of CA$0.31 per share Eligible shareholders must have bought the stock before 20 June 2024. Payment date: 05 July 2024. Payout ratio is a comfortable 52% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (3.0%). Buy Or Sell Opportunity • Jun 10
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 2.0% to €77.50. The fair value is estimated to be €64.49, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 146% in the next 2 years. Declared Dividend • May 19
First quarter dividend of CA$0.31 announced Shareholders will receive a dividend of CA$0.31. Ex-date: 20th June 2024 Payment date: 5th July 2024 Dividend yield will be 1.2%, which is lower than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (52% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.8% 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 102% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • May 16
Cargojet Inc. Declares Dividend for the Period from April 1, 2024 to June 30, 2024, Payable on or Before , July 5, 2024 Cargojet Inc. declared a cash dividend of $0.3146 per common voting share and variable voting share for the period from April 1, 2024 to June 30, 2024. The record date for determining shareholders of the Corporation entitled to receive payment of the dividend of the Corporation shall be June 20, 2024 and the payment date for such dividend shall be on or before July 5, 2024. These dividends will be eligible dividends within the meaning of the Income Tax Act (Canada). Tillkännagivande • Apr 30
Cargojet Inc. Reports Unaudited Impairment Results for the First Quarter Ended March 31, 2024 Cargojet Inc. reported unaudited impairment results for the first quarter ended March 31, 2024. For the period, the company reported impairment on property, plant and equipment was CAD 1.1 million. Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: CA$1.94 (vs CA$1.77 in 1Q 2023) First quarter 2024 results: EPS: CA$1.94 (up from CA$1.77 in 1Q 2023). Revenue: CA$231.2m (flat on 1Q 2023). Net income: CA$32.5m (up 6.6% from 1Q 2023). Profit margin: 14% (in line with 1Q 2023). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Logistics industry in Europe. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Tillkännagivande • Apr 13
Cargojet Inc. Appoints Brian Levitt as Director Cargojet Inc. appointed Brian Levitt as director at its AGM held on April 11, 2024. Tillkännagivande • Mar 26
Cargojet Inc. to Report Q1, 2024 Results on Apr 29, 2024 Cargojet Inc. announced that they will report Q1, 2024 results Pre-Market on Apr 29, 2024 Declared Dividend • Mar 13
Fourth quarter dividend of CA$0.31 announced Shareholders will receive a dividend of CA$0.31. Ex-date: 19th March 2024 Payment date: 5th April 2024 Dividend yield will be 1.2%, which is lower than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (54% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.8% 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 117% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • Mar 09
Cargojet Inc. Declares Cash Dividend for the Period from January 1, 2024 to March 31, 2024, Payable on or Before April 5, 2024 The Board of Directors of Cargojet Inc. has declared a cash dividend of $0.3146 per common voting share and variable voting share for the period from January 1, 2024 to March 31, 2024. The record date for determining shareholders of the Corporation entitled to receive payment of the dividend of the Corporation shall be March 20, 2024 and the payment date for such dividend shall be on or before April 5, 2024. Reported Earnings • Feb 27
Full year 2023 earnings released: EPS: CA$2.17 (vs CA$11.04 in FY 2022) Full year 2023 results: EPS: CA$2.17 (down from CA$11.04 in FY 2022). Revenue: CA$877.5m (down 11% from FY 2022). Net income: CA$37.3m (down 80% from FY 2022). Profit margin: 4.3% (down from 20% in FY 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Logistics industry in Europe. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Tillkännagivande • Jan 25
Cargojet Inc. to Report Q4, 2023 Results on Feb 26, 2024 Cargojet Inc. announced that they will report Q4, 2023 results at 9:30 AM, US Eastern Standard Time on Feb 26, 2024 Tillkännagivande • Jan 23
Cargojet Inc., Annual General Meeting, Apr 11, 2024 Cargojet Inc., Annual General Meeting, Apr 11, 2024. Upcoming Dividend • Dec 12
Upcoming dividend of CA$0.31 per share at 1.1% yield Eligible shareholders must have bought the stock before 19 December 2023. Payment date: 05 January 2024. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (5.2%). Lower than average of industry peers (3.0%). Tillkännagivande • Nov 16
Cargojet Inc. Announces CEO Changes, Effective January 1, 2024 Cargojet Inc. announced a significant leadership transition. Effective January 1, 2024, Pauline Dhillon, currently serving as Chief Corporate Officer, and Jamie Porteous, currently Chief Strategy Officer, will be appointed Co-Chief Executive Officers (Co-CEOs) and Dr. Ajay Virmani, currently serving as CEO, will be appointed Executive Chairman. Pauline Dhillon and Jamie Porteous have been integral executive members of the Cargojet team since its inception 22 years ago. Their commitment, extensive industry knowledge, and visionary leadership have played pivotal roles in Cargojet's growth and success. As Co-CEOs, Pauline Dhillon and Jamie Porteous will continue to work hand-in-hand and drive the company's vision, mission, and strategic initiatives, ensuring that Cargojet remains at the forefront of the air cargo industry while upholding the core values and culture. Pauline Dhillon is a founding member of the Cargojet team and has been with the company from Day One. Pauline has been an integral part of Cargojet's growth journey over the past 22 years and over this period, she has led several functions with increasing responsibility including Marketing, Brand, Government Relations, Human Resources, Legal, Facilities, Operational Efficiency and Commercial operations, leading up to her current role as Chief Corporate Officer. Pauline currently oversees all aspects of support functions as well as ground operations globally. Jamie B. Porteous is also a founding member of the Cargojet team and has been with the company from Day One. Jamie also has been an integral part of Cargojet's growth journey over the past 22 years and has been instrumental in helping grow Cargojet from a startup to the air-cargo leader. Jamie has served in many roles including Sales, Customer Relations, Commercial Strategy, Operations, Network Planning and Design, and Investor Relations, and more recently as the Chief Strategy Officer. Tillkännagivande • Nov 15
Cargojet Inc. Announces Board Changes, Effective January 1, 2024 Cargojet Inc. announced a significant leadership transition. Effective January 1, 2024, Pauline Dhillon, currently serving as Chief Corporate Officer, and Jamie Porteous, currently Chief Strategy Officer, will be appointed Co-Chief Executive Officers (Co-CEOs) and Dr. Ajay Virmani, currently serving as CEO, will be appointed Executive Chairman. New Risk • Nov 14
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 14% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.0x net interest cover). Minor Risks Profit margins are more than 30% lower than last year (8.1% net profit margin). Shareholders have been diluted in the past year (14% increase in shares outstanding). Tillkännagivande • Nov 08
Cargojet Inc. Declares Quarterly Dividend for the Period from October 1, 2023, to December 31, 2023, Payable on or Before January 5, 2024 Cargojet Inc. declared a cash dividend of $0.3146 per common voting share and variable voting share for the period from October 1, 2023, to December 31, 2023, an increase of $0.0286 or 10.0% per share from the previous quarter. The dividends will be paid to all shareholders of record as at the close of business on December 20, 2023, and will be payable on or before January 5, 2024. Reported Earnings • Nov 08
Third quarter 2023 earnings released: EPS: CA$0.61 (vs CA$4.84 in 3Q 2022) Third quarter 2023 results: EPS: CA$0.61 (down from CA$4.84 in 3Q 2022). Revenue: CA$214.0m (down 8.0% from 3Q 2022). Net income: CA$10.5m (down 87% from 3Q 2022). Profit margin: 4.9% (down from 36% in 3Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Logistics industry in Europe. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Tillkännagivande • Oct 05
Cargojet Inc. to Report Q3, 2023 Results on Nov 07, 2023 Cargojet Inc. announced that they will report Q3, 2023 results Pre-Market on Nov 07, 2023 Tillkännagivande • Sep 19
Cargojet Inc. Declares Quarterly Dividend, Payable on or before October 5, 2023 The Board of Directors of Cargojet Inc. has declared a cash dividend of $0.2860 per common voting share and variable voting share for the period from July 1, 2023, to September 30, 2023. The record date for determining shareholders of the Corporation entitled to receive payment of the dividend of the Corporation shall be September 20, 2023, and the payment date for such dividend shall be on or before October 5, 2023. New Risk • Aug 15
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 3.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (3.0x net interest cover). Earnings are forecast to decline by an average of 9.6% per year for the foreseeable future. High level of non-cash earnings (24% accrual ratio). Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: CA$1.81 (vs CA$9.29 in 2Q 2022) Second quarter 2023 results: EPS: CA$1.81 (down from CA$9.29 in 2Q 2022). Revenue: CA$209.7m (down 15% from 2Q 2022). Net income: CA$31.1m (down 81% from 2Q 2022). Profit margin: 15% (down from 65% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, while revenues in the Logistics industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Tillkännagivande • Jul 06
Cargojet Inc. to Report Q2, 2023 Results on Aug 14, 2023 Cargojet Inc. announced that they will report Q2, 2023 results at 9:30 AM, US Eastern Standard Time on Aug 14, 2023 Upcoming Dividend • Jun 12
Upcoming dividend of CA$0.29 per share at 1.2% yield Eligible shareholders must have bought the stock before 19 June 2023. Payment date: 05 July 2023. Payout ratio is a comfortable 7.1% but the company is not cash flow positive. Trailing yield: 1.2%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.9%). Tillkännagivande • May 17
Cargojet Inc. Declares Quarterly Cash Dividend for the Period from April 1, 2023 to June 30, 2023, Payable on or Before July 5, 2023 The Board of Directors of Cargojet Inc. has declared a cash dividend of $0.2860 per common voting share and variable voting share for the period from April 1, 2023 to June 30, 2023. The record date for determining shareholders of the Corporation entitled to receive payment of the dividend of the Corporation shall be June 20, 2023, and the payment date for such dividend shall be on or before July 5, 2023. Reported Earnings • Mar 08
Full year 2022 earnings released: EPS: CA$11.04 (vs CA$9.75 in FY 2021) Full year 2022 results: EPS: CA$11.04 (up from CA$9.75 in FY 2021). Revenue: CA$979.9m (up 29% from FY 2021). Net income: CA$190.6m (up 14% from FY 2021). Profit margin: 20% (down from 22% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 2.1% decline forecast for the Logistics industry in Europe. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Feb 14
Cargojet Inc. to Report Q4, 2022 Results on Mar 06, 2023 Cargojet Inc. announced that they will report Q4, 2022 results Pre-Market on Mar 06, 2023 Upcoming Dividend • Dec 12
Upcoming dividend of CA$0.29 per share Eligible shareholders must have bought the stock before 19 December 2022. Payment date: 05 January 2023. Payout ratio is a comfortable 6.5% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (3.5%). Tillkännagivande • Nov 08
Cargojet Inc. Declares Cash Dividend for the Period from October 1, 2022 to December 31, 2022, Payable on December 20, 2022 Cargojet Inc. has declared a cash dividend of $0.2860 per common voting share and variable voting share for the period from October 1, 2022 to December 31, 2022. The record date for determining shareholders of the Corporation entitled to receive payment of the dividend of the Corporation shall be December 20, 2022 and the payment date for such dividend shall be on or before January 5, 2023. Reported Earnings • Nov 01
Third quarter 2022 earnings released: EPS: CA$4.84 (vs CA$0.74 loss in 3Q 2021) Third quarter 2022 results: EPS: CA$4.84 (up from CA$0.74 loss in 3Q 2021). Revenue: CA$232.7m (up 23% from 3Q 2021). Net income: CA$83.4m (up CA$96.3m from 3Q 2021). Profit margin: 36% (up from net loss in 3Q 2021). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 2.9% decline forecast for the Logistics industry in Europe. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Sep 20
Cargojet Inc. to Report Q3, 2022 Results on Oct 31, 2022 Cargojet Inc. announced that they will report Q3, 2022 results at 9:30 AM, US Eastern Standard Time on Oct 31, 2022 Upcoming Dividend • Sep 12
Upcoming dividend of CA$0.29 per share Eligible shareholders must have bought the stock before 19 September 2022. Payment date: 05 October 2022. Payout ratio is a comfortable 9.5% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (3.6%). Tillkännagivande • Sep 02
Cargojet Inc. Declares Cash Dividend for the Period from July 1, 2022, to September 30, 2022, Payable on or Before October 5, 2022 The board of directors of Cargojet Inc. has declared a cash dividend of $0.2860 per common voting share and variable voting share for the period from July 1, 2022, to September 30, 2022. The record date for determining shareholders of the Corporation entitled to receive payment of the dividend of the corporation shall be September 20, 2022, and the payment date for such dividend shall be on or before October 5, 2022. Reported Earnings • Jul 28
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: CA$246.6m (up 43% from 2Q 2021). Net income: CA$160.9m (up CA$172.0m from 2Q 2021). Profit margin: 65% (up from net loss in 2Q 2021). The move to profitability was primarily driven by lower expenses. Over the next year, revenue is forecast to grow 11%, compared to a 1.7% growth forecast for the industry in Germany. Tillkännagivande • Jul 05
Cargojet Inc. to Report Q2, 2022 Results on Jul 27, 2022 Cargojet Inc. announced that they will report Q2, 2022 results Pre-Market on Jul 27, 2022 Recent Insider Transactions • Jun 19
Chief Financial Officer recently bought €148k worth of stock On the 16th of June, Scott Calver bought around 2k shares on-market at roughly €88.61 per share. In the last 3 months, they made an even bigger purchase worth €219k. Scott has been a buyer over the last 12 months, purchasing a net total of €367k worth in shares. Upcoming Dividend • Jun 10
Upcoming dividend of CA$0.29 per share Eligible shareholders must have bought the stock before 17 June 2022. Payment date: 05 July 2022. Payout ratio is on the higher end at 83% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (4.3%). Lower than average of industry peers (3.6%). Recent Insider Transactions • Jun 03
Chief Financial Officer recently bought €219k worth of stock On the 27th of May, Scott Calver bought around 2k shares on-market at roughly €109 per share. This was the largest purchase by an insider in the last 3 months. This was Scott's only on-market trade for the last 12 months. Tillkännagivande • May 12
Cargojet Inc. Appoints Scott Calver as Chief Financial Officer Cargojet Inc. announced that Scott Calver, who most recently served as the Chief Financial Officer of Trimac Transportation will join the company as its new Chief Financial Officer. Mr. Calver comes to Cargojet with significant financial executive experience including capital markets and operational management in the transportation and logistics sector. Prior to Trimac, Mr. Calver served as Vice President, Finance for ICS Courier from 2004 to 2008. Tillkännagivande • May 10
The Board of Directors of Cargojet Inc. Declares Cash Dividend for the Period from April 1, 2022, to June 30, 2022, Payable on or Before July 5, 2022 The Board of Directors of Cargojet Inc. has declared a cash dividend of $0.2860 per common voting share and variable voting share for the period from April 1, 2022, to June 30, 2022, an increase of $0.0260 or 10.0% per share from the previous quarter. The dividends will be paid to all shareholders of record as at the close of business on June 20, 2022, and will be payable on or before July 5, 2022. These dividends will be eligible dividends within the meaning of the Income Tax Act (Canada). Tillkännagivande • May 04
Cargojet Inc. (TSX:CJT) announces an Equity Buyback for 155,000 shares, representing 0.89% for CAD 15.5 million. Cargojet Inc. (TSX:CJT) announces a share repurchase program. Under the normal course issuer bid, the company will repurchase up to 155,000 common voting shares, representing 0.89% of the shares outstanding for CAD 15.5 million. Any shares purchased under the bid will be cancelled. The program is valid until May 3, 2023. As of April 28, 2022, the company had 17,324,258 shares outstanding. Reported Earnings • May 03
First quarter 2022 earnings released First quarter 2022 results: Revenue: CA$233.6m (up 46% from 1Q 2021). Net loss: CA$56.4m (down 163% from profit in 1Q 2021). Over the next year, revenue is forecast to grow 15% while the industry in Germany is not expected to grow. 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 31% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improved over the past week After last week's 15% share price gain to €136, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 12x in the Logistics industry in Europe. Total returns to shareholders of 160% over the past three years. Reported Earnings • Mar 08
Full year 2021 earnings: Revenues exceed analyst expectations Full year 2021 results: Revenue: CA$757.8m (up 13% from FY 2020). Net income: CA$167.4m (up CA$255.2m from FY 2020). Profit margin: 22% (up from net loss in FY 2020). The move to profitability was primarily driven by lower expenses. Revenue exceeded analyst estimates by 3.0%. Over the next year, revenue is forecast to grow 17%, compared to a 6.3% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Tillkännagivande • Feb 05
Cargojet Inc., Annual General Meeting, Apr 07, 2022 Cargojet Inc., Annual General Meeting, Apr 07, 2022. Upcoming Dividend • Dec 10
Upcoming dividend of CA$0.26 per share Eligible shareholders must have bought the stock before 17 December 2021. Payment date: 05 January 2022. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of German dividend payers (3.4%). Lower than average of industry peers (1.8%). Reported Earnings • Nov 03
Third quarter 2021 earnings released The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: CA$189.5m (up 17% from 3Q 2020). Net loss: CA$12.9m (loss narrowed 37% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Sep 30
Insider recently sold €279k worth of stock On the 28th of September, Paul Rinaldo sold around 2k shares on-market at roughly €139 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €10m more than they bought in the last 12 months. Tillkännagivande • Sep 15
Cargojet Successfully Recertifies ISO 9001 Quality Accreditation Cargojet Inc. announced the successful recertification of its ISO 9001:2015 Quality Standard Accreditation, for the ninetieth consecutive year. Cargojet is the only air cargo carrier in Canada with this accreditation. Upcoming Dividend • Sep 10
Upcoming dividend of CA$0.26 per share Eligible shareholders must have bought the stock before 17 September 2021. Payment date: 05 October 2021. Trailing yield: 0.5%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (1.7%). Tillkännagivande • Aug 12
Cargojet Inc. (TSX:CJT) acquired 25% stake in 21 Air, LLC. Cargojet Inc. (TSX:CJT) acquired 25% stake in 21 Air, LLC on August 11, 2021.
Cargojet Inc. (TSX:CJT) completed the acquisition of 25% stake in 21 Air, LLC on August 11, 2021. Reported Earnings • Aug 04
Second quarter 2021 earnings released: CA$0.64 loss per share (vs CA$2.89 loss in 2Q 2020) The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2021 results: Revenue: CA$172.1m (down 12% from 2Q 2020). Net loss: CA$11.1m (loss narrowed 75% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Jul 04
Independent Director recently sold €202k worth of stock On the 30th of June, Arlene Dickinson sold around 2k shares on-market at roughly €126 per share. In the last 3 months, there was an even bigger sale from another insider worth €5.4m. Insiders have been net sellers, collectively disposing of €10.0m more than they bought in the last 12 months. Recent Insider Transactions • Jun 24
Executive VP & Chief Commercial Officer recently sold €173k worth of stock On the 17th of June, Jamie Porteous sold around 1k shares on-market at roughly €120 per share. In the last 3 months, there was an even bigger sale from another insider worth €5.4m. Insiders have been net sellers, collectively disposing of €9.8m more than they bought in the last 12 months. Recent Insider Transactions • May 21
Founder recently sold €5.4m worth of stock On the 17th of May, Ajay Virmani sold around 44k shares on-market at roughly €123 per share. This was the largest sale by an insider in the last 3 months. This was Ajay's only on-market trade for the last 12 months. Reported Earnings • May 05
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CA$160.3m (up 30% from 1Q 2020). Net income: CA$89.4m (up CA$91.2m from 1Q 2020). Profit margin: 56% (up from net loss in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 160 percentage points per year, which is a significant difference in performance. Tillkännagivande • Mar 18
Cargojet Announces Director Changes Cargojet Inc. announced that Mr. Alan Gershenhorn has been appointed to its board of directors (the "Board") effective March 17, 2021 and will stand for election at the Corporation's Annual Meeting of Shareholders scheduled to be held on March 30, 2021 (the "Meeting"). Mr. James R. Crane has resigned from the Board in line with best corporate governance practices in order to pursue a business venture in the US with whom Cargojet has a significantly expanding commercial relationship. The Board thanks Mr. Crane for his invaluable leadership and contribution to the Corporation. As lead director, Mr. Paul Godfrey will act as interim independent chair of the Board. Mr. Gershenhorn brings over 40 years of experience in U.S. and international enterprise logistics to the Board. During his 39-year tenure at United Parcel Service Inc. ("UPS"), the world's largest package delivery
company, Mr. Gershenhorn served in several significant leadership positions, including most recently as Executive Vice President and Chief Commercial Officer through June 2018. Analyst Estimate Surprise Post Earnings • Mar 02
Revenue beats expectations Revenue exceeded analyst estimates by 1.2%. Over the next year, revenue is forecast to grow 2.6%, compared to a 5.7% growth forecast for the Logistics industry in Germany. Reported Earnings • Mar 02
Full year 2020 earnings released The company reported a mediocre full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: CA$668.5m (up 37% from FY 2019). Net loss: CA$87.8m (down CA$99.4m from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 98% per year but the company’s share price has increased by 41% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 23
New 90-day low: €122 The company is down 9.0% from its price of €134 on 25 November 2020. The German market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €232 per share. Tillkännagivande • Feb 02
Cargojet Inc. has completed a Follow-on Equity Offering in the amount of CAD 350.1565 million. Cargojet Inc. has completed a Follow-on Equity Offering in the amount of CAD 350.1565 million.
Security Name: Common Voting Shares
Security Type: Common Stock
Securities Offered: 1,642,000
Price\Range: CAD 213.25
Discount Per Security: CAD 8.53 Tillkännagivande • Jan 29
Cargojet Inc., Annual General Meeting, Mar 30, 2021 Cargojet Inc., Annual General Meeting, Mar 30, 2021. Tillkännagivande • Jan 15
Cargojet Inc. to Report Q4, 2020 Results on Mar 01, 2021 Cargojet Inc. announced that they will report Q4, 2020 results Pre-Market on Mar 01, 2021 Recent Insider Transactions • Jan 09
Executive VP & Chief Commercial Officer recently sold €363k worth of stock On the 31st of December, Jamie Porteous sold around 3k shares on-market at roughly €137 per share. In the last 3 months, there was an even bigger sale from another insider worth €3.3m. Insiders have been net sellers, collectively disposing of €5.7m more than they bought in the last 12 months. Recent Insider Transactions • Dec 15
VP of Governance recently sold €3.3m worth of stock On the 7th of December, John Kim sold around 24k shares on-market at roughly €137 per share. This was the largest sale by an insider in the last 3 months. This was John's only on-market trade for the last 12 months. 
