I was going to post this in the LIQ thread but it should be here. [Mods: could someone change the thread title as CDL changed their name and ticker symbol a couple of years back). Corby Spirit and Wine CSW.A or CSW.B today announced a special dividend of 0.62 per share (~3.3% on CSW.B share price yesterday) along with Q1 16 results and a new extended term agreement with Pernod Ricard (Their ultimate parent company.)
Q1 results a a small improvement over Q1 15 overall this company has had very flat results over past 3-4 years, but keeps spitting out its excess cash in dividends and special dividends. This is now 4/5 years.
I actually liked it better when they "saved up" the special dividend and paid it out once every 4-5 years. Since 2012 they have been paying out a special dividend yearly. They changed their dividend policy so they would pay out any excess cash yearly.
When they would pay out a special dividend on a 4-6 year cycle I was able to predict which year they would pay out the dividend by watching the retained earnings level. I got my predictions correct in 2007 (paid in January 2008) and again in 2012 (paid in January 2013 and actually commented on above) and I actually played the stock in 2012 on the guess they were going to pay out a special dividend. It is nice to get a yearly little boost now but not quite as satisfying as predicting a "surprise" dividend every 4-5 years.
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