Hello Fairweather,

 

Great posting, thank you.

 

I for one would like to see the new Board Chair and CEO reflect on this in their annual messages to the shareholders in the 2013 Annual Report.  Speak to the future, setting out their longer term strategy in this regard, saying that their goal will be to pay down debt, or replace existing debt with new arrangements that do not restrict the Company from sharing profits with shareholders.  I am not suggesting that they commit to becoming income-trust-like in distributing 75% of their annual income, just start to recognize that having paid everybody else, the long suffering shareholders deserve to participate a little in the current good news.

 

I am sure we are stuck with the Clairvest debenture for some time to come, so the above declarations will not change anything in the immediate future.  However it would represent another reason for long term investors and owners of this Company to stay onboard.

 

Have a great weekend.