Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

Is Student Transportation Steering Toward A Ditch?

There's a long custom of Canadian companies structuring themselves in such a way that they convey a large percentage of earnings and/or operating income to shareholders in the form of dividends. In days past, these distributions were screened from taxation by companies organizing themselves as royalty trusts (CanRoys), but the Canadian government largely shut that process down years ago.


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