11-18-2019, 10:37 AM
(11-18-2019, 10:10 AM)divmenow Wrote: Six Flags (SIX) bumps up dividend by a penny, to yield more than 7.4%. Raised from .82 to .83.
One of the best buys in the market right now.
I looked at this one, but its balance sheet is troubling, as is its past history. Only emerged from bankruptcy in 2009 (all prior shareholders were wiped out and ownership transferred to bondholders):
https://www.reuters.com/article/us-sixfl...RF20100503
BB credit rating is not investment grade, and dividend payout ratio was over 100% even before this dividend raise. Its latest quarterly report shows that liabilities currently outstrip assets (3.1 billion to 3.0 billion), current liabilities are ~15% higher than the debt levels that pushed them into bankruptcy last time, long term debt has risen by 10% in the last three quarters alone, and total liabilities have risen by ~20% in these past three quarters. Future growth forecasts are anemic compared to performance over the past decade.
https://otp.tools.investis.com/clients/u...ETS_555874
I could see them declaring Chapter 11 again with even a mild recession.