# CML Healthcare Inc. (TSE:CLC)



## AGHFX (Aug 31, 2012)

Has anyone taken a look at CML Healthcare Inc.? I've been looking at it on and off - it seems like it has solid financials (7.82% dividend yield as well) - the only thing I'm not overly fond of is its P/E ratio but the stock price is still quite low. It looks like they have reduced their assets over the past two years but profits are increasing. Anyone else think this is a good buy, or do you recommend something else in the health care sector?


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## HaroldCrump (Jun 10, 2009)

I had looked into CML a while ago, so don't recall all the details and analysis, but it wasn't very attractive (to me) then.
The yield was too high and they had recently botched a US expansion.
I also don't like the fact that their fate is so heavily dependent on govt. regulation.
Who knows when what regulations may change and fees for their services reduced or their margins capped.
Their dividends haven't changed in a while and the stock has done nothing since they converted.

If you want to play the local health care sector but don't like pharma stocks like Valeant, take a look at a health care property REIT like North West Health Properties (NWH).

Disclosure : I have no position in any of the companies mentioned above.


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## webber22 (Mar 6, 2011)

I hold CML as a core holding representing a small percentage used mainly for income with the 8.88% current dividend yield.
The stock price is pulled up and down due to factors such as low volumes, shorts, large institutional shareholders rebalancing, stops being triggered because of sudden decrease etc.
Looking at the charts will tell you that it bottoms out at this time of year, try and take advantage of the dips

CML had a new CEO take over earlier this year, the US expansion was botched by the old CEO.
Based on their last conference call the new management team sees the dividend as safe, given the 2nd quarter results and the new long term $400 million line of credit in Feb/12 with a 5 year maturity 

They plan to issue a news release before the market opens on September 18th detailing the Company's new growth strategy
The Ontario liberals have already cut some income from the lab testing services and medical imaging services, so the worse is most likely over


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## PuckiTwo (Oct 26, 2011)

HaroldCrump said:


> ........I also don't like the fact that their fate is so heavily dependent on govt. regulation. Who knows when what regulations may change and fees for their services reduced or their margins capped. Their dividends haven't changed in a while and the stock has done nothing since they converted.





webber22 said:


> Based on their last conference call the new management team sees the dividend as safe, given the 2nd quarter results and the new long term $400 million line of credit in Feb/12 with a 5 year maturity.They plan to issue a news release before the market opens on September 18th detailing the Company's new growth strategy.The Ontario liberals have already cut some income from the lab testing services and medical imaging services, so the worse is most likely over


See link http://business.financialpost.com/2...-healthcare-target-warns-dividend-is-at-risk/ RBC Capital obviously thinks that the dividend is *not* safe and reduced target price from $11 to 9.50. I own this stock and watched its gradual way down since Oct 2010. Harold is right, stk depends too much on provincial regulations. Several provinces have cut spending on lab work and medical imaging and I don't think the worst is over yet.

Edit: We have 35% capital loss on this stk and are thinking of selling it prior CML's announcement of growth plan


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## zylon (Oct 27, 2010)

*dividend cut*

Annual dividend reduced from 0.75 to 0.53

CML HealthCare Provides Corporate Update
- Announces plan to divest diagnostic imaging business - Annual dividend of $0.53 per common share to be paid on a *quarterly* basis - Announces intention to implement a normal course issuer bid - Peter van der Velden joins the Board of Directors - CML to host investor call today, January 16 at 10:00 a.m. (ET)

http://tmx.quotemedia.com/article.php?newsid=57276783&qm_symbol=CLC


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## thompsg4416 (Aug 18, 2010)

wooo that was a close one. I was looking at this one a couple days ago and I was close but decided to take a pass - if I remember because the payout was too high.


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## OptsyEagle (Nov 29, 2009)

thompsg4416 said:


> wooo that was a close one. I was looking at this one a couple days ago and I was close but decided to take a pass - if I remember because the payout was too high.


Now take that same thought process and ask yourself what you would have done if the dividend had only been $0.53 per year instead of $0.75. The reason I suggest this is because what you did is exactly what many others did. Pass on buying this stock because the payout ratio was more then 100%, and hence why the stock price was declining. So the important question today is, will all the new investors that review this investment a few months from now, decide to pass on it or perhaps decide to buy it. Those decisions will drive the stock price going forward.


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## PuckiTwo (Oct 26, 2011)

zylon said:


> Annual dividend reduced from 0.75 to 0.53


That makes two dividend cuts since Dec 2010/January 2011


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## OptsyEagle (Nov 29, 2009)

The first one was just an adjustment for the income taxes that the Feds put on them and other income trusts, therefore I would call it only one cut, but that is just my opinion and not overly relevant. 

One has to see that at some point that cut will get moved to the history books but the stock will still sport a "very wide moat" business with a 10 x PE ratio, very low capital expense requirement, a 7.5% dividend yield with an 80% payout ratio.

I can't see that lasting, but again, just my opinion.


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## doctrine (Sep 30, 2011)

> The reason I suggest this is because what you did is exactly what many others did. Pass on buying this stock because the payout ratio was more then 100%, and hence why the stock price was declining.


This is one of the first few things anyone must look at before investing in any company. You may bypass some stocks that pay > 100% that might later turn around, but more often than not the risks are not justified.



> One has to see that at some point that cut will get moved to the history books


At a minimum, I would wait for an entire year of reporting (4 quarterly reports) before re-assessing. Maybe longer, but that's the minimum. You might miss out on a quick bounce, but long term gains come from years of holding successful stocks, not betting on turnarounds shortly after dividend cuts.


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## Toronto.gal (Jan 8, 2010)

thompsg4416 said:


> I was looking at this one a couple days ago and I was close but decided to take a pass - if I remember because the payout was too high.


Right, on the 14th you were admiring the 'nice juicy dividend', but that's not what held you back, what was worrying you were the last 2 quarterly reports. I remembered for you. :chuncky:


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## Toronto.gal (Jan 8, 2010)

OptsyEagle said:


> Pass on buying this stock because the payout ratio was more then 100%, and hence why the stock price was declining.


It was declining for a valid reason then, so why buy it at that time? No rush IMO for buying such stocks [with some exceptions]. As doctrine mentioned, the risk is just too high.


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## blin10 (Jun 27, 2011)

doctrine said:


> This is one of the first few things anyone must look at before investing in any company. You may bypass some stocks that pay > 100% that might later turn around, but more often than not the risks are not justified.
> 
> 
> 
> *At a minimum, I would wait for an entire year of reporting (4 quarterly reports) before re-assessing. Maybe longer, but that's the minimum. You might miss out on a quick bounce, but long term gains come from years of holding successful stocks, not betting on turnarounds shortly after dividend cuts.*


problem with that strategy, while you wait and see company improving, it can double easily, remember stocks are looking into the future and if funds see clc doing something right they will pile in... but as usuall there's 2 sides, you might buy now expecting grow and the company does the opposite and before your know you in -50% paper loss


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## My Own Advisor (Sep 24, 2012)

I definitely see CLC rising in price now. I suspect that is why it was climbing of late...folks on the inside knew the dividend cut was coming. 
Will it get back to $10 or $11 this year? Probably not but I predict it will move up over this year.


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## thompsg4416 (Aug 18, 2010)

Toronto.gal said:


> Right, on the 14th you were admiring the 'nice juicy dividend', but that's not what held you back, what was worrying you were the last 2 quarterly reports. I remembered for you. :chuncky:


hahaha yes and the quarterly reports!! Can you do that trick on demand? I could take you to work with me for show and tell 

OptsyEagle: I get what your saying but as everyone else has said is it worth the risk? I don't mind taking a flyer here in there in fact I'm prone to it but this is one I passed on. Perhaps if I knew the stock/company better and had some real faith in it I would change my mind. Simply looking at the techinals wasn't enough for me.


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## OptsyEagle (Nov 29, 2009)

Did I mention that the business has a "very wide moat" and sports a 10 x PE ratio, has very low capital expense requirements and now has a 7.5% dividend yield, with an 80% payout ratio. You also have to note that medical laboratory testing is almost a monopoly business for CML, in Ontario anyways. At worst a duopoly on some tests, but there not the majority.

Yeah sure, new crap can happen, but it looks to me that the company has pretty much gone back to its Ontario/BC medical tests roots. In that business I would like to think that the expanding number of elderly customers this country has, that are going to need a lot of medical tests, will more then make up for any government cost controls that might be enacted.

.


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## Toronto.gal (Jan 8, 2010)

OptsyEagle said:


> Yeah sure, *new crap* can happen...


I get what you are saying OptsyEagle, and if one already owns the stock, tough luck & we have all been there, but if you don't, and the problems are visible via financials, etc., it's best to be patient.

Sure there are times when you will definitely miss the boat on a particular troubled stock by waiting too long to get onboard; as the saying goes: 'you snooze you lose', but not really, as there is never a shortage of beaten-down stocks these days in any sector! There is always uranium stocks. 

I would not necessarily be against buying shortly after a reduced dividend; it would depend on the stock & other factors that you mentioned, but I would not immediately jump at the idea. 

Had *thompsg* been admiring the 'nice/juicy dividend' last July as opposed to earlier this week, & ignored the financials & bought at $10 as a result, he would now be down around -30%. Had he bought earlier this week, even if the stock were to drop an additional 20% after he purchased it, it would be better than being down -50% [-30% + additional -20%]. Easier to recover -20% than -50%. 

Often times the cautious wait could make a big difference, even if you had just purchased 100 shares:

- 100 sh @ $10 = $1,000 [last July's price]
- current -30% drop = $700
- losses = -$300

- buy today 100 sh @ $7 = $700 
- assume a drop of -$20% = $560 
- losses = -$140

Btw, stop-loss orders can't always protect you.


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## underemployedactor (Oct 22, 2011)

Not to quibble the obvious, but the 30% drop would still have been mitigated somewhat by the "juicy" divvy, so your math is a little off ie the $300 loss is against a $60 divvy gain - %10 annual for six months.


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## My Own Advisor (Sep 24, 2012)

Agreed. Which is why, even when some stocks can a bit of a bath, as long as they pay dividends, it might be best to hold onto them. If you were depending on this stock for capital appreciation only....then ouch.


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## Toronto.gal (Jan 8, 2010)

underemployedactor said:


> Not to quibble the obvious, but the 30% drop would still have been mitigated somewhat by the "juicy" divvy, so your math is a little off ie the $300 loss is against a $60 divvy gain - %10 annual for six months.


I left out the obvious on purpose, as I knew somebody who would be paying attention would bring it up. 

However, the point that I was trying to make, was for the stock to be bought when the downside potential was already limited, hence the focus was on the share price, not the dividend per se.

Not to compare, but I had bought MFC just 2 months after the div. had been reduced, when in fact, I should have bought much later [but I did not understand all the other factors back then, ie: interest rates, etc.].


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## Toronto.gal (Jan 8, 2010)

My Own Advisor said:


> even when some stocks can a bit of a bath, as long as they pay dividends, it might be best to hold onto them.


I agree, providing it was a stock worth holding onto! 

However, if I did not yet own it, I rather get a higher volume after the 'bath'.  [of course without the crystal ball, it's not always possible, but there are signals to watch].


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## webber22 (Mar 6, 2011)

Takeover offer at 10.75

http://cmlhealthcare.com/cml-healthcare-investors/cml-healthcare-news-releases/


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## jamesbe (May 8, 2010)

Argh!

Don't remember what I sold my position at but it was a loss and I think I had about $3k in there .


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## HaroldCrump (Jun 10, 2009)

jamesbe said:


> Thoughts about buying this at $10.63 and just cashing out at $10.75? Looks like a guaranteed $1000 profit...


You will have to wait for the deal finalization.
There is an opportunity cost to that.
If that is what you want, you can also buy UUU for $2.73 now and wait for the sale finalization at $2.86.


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## Canuck (Mar 13, 2012)

so sweet, my cost is $10.14, thought I'd be waiting a very long time to reach that. I'm going to sell but I'll wait till tomorrow so I can receive one last dividend from them


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## jamesbe (May 8, 2010)

My math was wrong, only $100 in profit, not worth it.


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## OptsyEagle (Nov 29, 2009)

I find sometimes the best opportunities show up in companies that cut their dividends. There are usually unique differences in the companies that do that, but the market always seems to throw them all out in the same way.

This was nice. Made my day.


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## favelle75 (Feb 6, 2013)

So what happens to this stock now? I bought a bunch of shares at $7.05. Is this the highest its gonna go based on this news? Is now the peak to sell it all at and make ~$4/share? Or is the sky the limit and do I hold on for the ride? Never had shares in a company that was taken over before!


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## HaroldCrump (Jun 10, 2009)

I believe the premium offered is nearly 50% from yesterday's close.
It is highly unlikely that there will be a competing bid, esp. since this is a govt. regulated industry and the acquirer is a govt. backed private equity firm (OMERS pension plan).

The only thing you have to decide is whether to sell now, lock in your profit to date, and re-deploy the cash somewhere else; or just wait until the deal is concluded and you get a few extra cents a share, plus a few additional monthly dividend payments.

I don't think there is any "ride" left in this, and sky is not the limit - you already got the sky, right? What more can you expect?


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## favelle75 (Feb 6, 2013)

HaroldCrump said:


> I believe the premium offered is nearly 50% from yesterday's close.
> It is highly unlikely that there will be a competing bid, esp. since this is a govt. regulated industry and the acquirer is a govt. backed private equity firm (OMERS pension plan).
> 
> The only thing you have to decide is whether to sell now, lock in your profit to date, and re-deploy the cash somewhere else; or just wait until the deal is concluded and you get a few extra cents a share, plus a few additional monthly dividend payments.
> ...


So after a takeover like this, $10.75 is likely the peak? Its not going to jump to $15 or something silly the day after I sell it all? LOL.


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## jamesbe (May 8, 2010)

10.75 is the peak. It will sell for less right now as people want to cash out and others will hold for the final peak value.


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## HaroldCrump (Jun 10, 2009)

favelle75 said:


> So after a takeover like this, $10.75 is likely the peak? Its not going to jump to $15 or something silly the day after I sell it all?


Not unless another acquirer makes an offer of $15 a share.
That would be nearly 100% over (i.e. double) yesterday's closing price, and about 50% more than OMER's offer.


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## OptsyEagle (Nov 29, 2009)

favelle75 said:


> So after a takeover like this, $10.75 is likely the peak? Its not going to jump to $15 or something silly the day after I sell it all? LOL.


Anything can happen. Deals have also been known to fall through. I am sure you would hate a deal being cancelled here a heck of a lot more then the amount any very low probable counter offer might obtain.


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## My Own Advisor (Sep 24, 2012)

Interesting news. Own 200 shares. $10.75 will be the peak value, will hold until the transaction goes through and collect some more shares in the process.

Why would people sell now?

"The Arrangement provides for the acquisition of all issued and outstanding shares of CML for $10.75 per share in cash by way of a Plan of Arrangement under the Business Corporations Act (Ontario)."


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## Potato (Apr 3, 2009)

Why sell now? If you hold you can collect a dividend payment and a few cents per share until the deal is closed. However, you run the risk of the deal falling apart and seeing it drop back to ~$7. By selling now you lock in that 50% return, and can let some arbitrageur take the risk for the last 28 cents between now and September (2.6%). 

Anyway, kicking myself on this on -- had a bid in at $7 for yesterday's market madness. Got too cheap and missed out


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## favelle75 (Feb 6, 2013)

One problem (dilemma) I am having is that its trading at 1.5% below the buyout and there are still two dividends left of about 2% each. I think the June one is guaranteed (ex dividend date was June 18th) so that's a wash, but if I sell now, I'll basically be out 3.5% over 3 months (14% annualized). If I take the cash and redeploy now, what am I going to find out there that will give me a 14% return that's as "guaranteed" as this? 

I bought in at $7.05 and again at $7.10


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## My Own Advisor (Sep 24, 2012)

"If I take the cash and redeploy now, what am I going to find out there that will give me a 14% return that's as "guaranteed" as this?"

I suspect nothing 

I will hold and take the $10.75 in a few months. A good deal.


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## HaroldCrump (Jun 10, 2009)

The deal is quite likely to go ahead.
I can't imagine shareholders rejecting a 50% premium offer.
Regulatory clearance might take a while, but chances are quite good.
OMERS would not have made a move unless they had a high degree of confidence in regulatory approval.


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## favelle75 (Feb 6, 2013)

My Own Advisor said:


> "If I take the cash and redeploy now, what am I going to find out there that will give me a 14% return that's as "guaranteed" as this?"
> 
> I suspect nothing
> 
> I will hold and take the $10.75 in a few months. A good deal.





HaroldCrump said:


> The deal is quite likely to go ahead.
> I can't imagine shareholders rejecting a 50% premium offer.
> Regulatory clearance might take a while, but chances are quite good.
> OMERS would not have made a move unless they had a high degree of confidence in regulatory approval.


This is what I am thinking. Hope I don't get burned....


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## warp (Sep 4, 2010)

favelle75 said:


> One problem (dilemma) I am having is that its trading at 1.5% below the buyout and there are still two dividends left of about 2% each. I think the June one is guaranteed (ex dividend date was June 18th) so that's a wash, but if I sell now, I'll basically be out 3.5% over 3 months (14% annualized). If I take the cash and redeploy now, what am I going to find out there that will give me a 14% return that's as "guaranteed" as this?
> 
> I bought in at $7.05 and again at $7.10



Theres several errors here.....and other mistakes in some of these posts about CML and the buyout.

Firstly CML pays Quarterly dividends.....not monthly.

Secondly, the Ex-dividend date was today, june 26, 2013, , not june 18. June 18 was the declaration date. Anybody buying today will NOT get the june dividend...payable july 18, 2013. This is why the stock price was down a bit today.

Thirdly.....if you read the news release you will know that part of the buyout deal is that there will be NO more dividend payments until the deal closes, which is slated to happen in Sept.

As I/we own a lot of shares of CML, I was quite pleased with this announcement yesterday.

Keep in mind that if you hold them until the closing, any gains will be Capital Gains......if you hold a large number of shares in a cash account, this is a consideration, tax-wise.


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## Spidey (May 11, 2009)

It almost appears like someone is trying to manipulate the stock price today. Very big bid/ask orders with a penny difference between them.


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## HaroldCrump (Jun 10, 2009)

Spidey said:


> It almost appears like someone is trying to manipulate the stock price today. Very big bid/ask orders with a penny difference between them.


That is not too unusual for companies whose fate has been determined.
Another company in a similar situation is UUU.
In situations such as these, the retail investors that wanted to lock in a profit have already done so.
Those that want to wait for the few cents until the deal is closed, are not going to sell.
Therefore, all the orders you see are either from arbitrageurs or market makers.
I don't think it is manipulation.


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## favelle75 (Feb 6, 2013)

warp said:


> Keep in mind that if you hold them until the closing, any gains will be Capital Gains......if you hold a large number of shares in a cash account, this is a consideration, tax-wise.


All of my CLC is in my TFSA.


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## My Own Advisor (Sep 24, 2012)

Same


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## al42 (Mar 5, 2011)

Sell order got triggered ... Had it set @ $10.62 since yesterday after the ex div. date.
I figured 10.62 plus the div of 13 cents put me right on the 10.75 offer.
So just happy to get out and redeploy.


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## gibor365 (Apr 1, 2011)

Never watched this one before.....1yr chart looks crazy, huge plunge in Nov, 7 months sidelines and huge popup on recent news.... Congrats to ppl who didn't sell it before announcement...


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## favelle75 (Feb 6, 2013)

al42 said:


> Sell order got triggered ... Had it set @ $10.62 since yesterday after the ex div. date.
> I figured 10.62 plus the div of 13 cents put me right on the 10.75 offer.
> So just happy to get out and redeploy.


What you gonna redeploy to? I'm looking for a healthcare placement....not sure what tho.


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## al42 (Mar 5, 2011)

favelle75 said:


> What you gonna redeploy to? I'm looking for a healthcare placement....not sure what tho.


I had 2 Canadian companies in the healthcare space, CML and Futuremed, both were cut in half before getting bought out at a substantial premium.
There's DR.T,paladin labs and Valeant but I'm not to comfortable with DR and both Paladin and Valeant look a little overvalued to me.
So, being a sucker for punishment, I added to my IMG and Goldcorp for a short term trade.


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## My Own Advisor (Sep 24, 2012)

I too, was looking at DR. Rising cash flow and modest assets for a smaller-cap. Decent history of monthly dividends:

http://www.medicalfacilitiescorp.ca/section_inv_rel/distribution.htm


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## Spidey (May 11, 2009)

I also just got out, for similar reasons to al42 (although he got a little better price than I did). I've been waiting to exit this stock for a long time and thought I wouldn't quibble about getting a few extra cents per share when I have my latest dividend coming. After all, these deals are never guaranteed and a big market crash could kibosh the arrangement. As for the sector, I'm disenchanted and not anxious to jump back in. Too vulnerable to cash-strapped governments - particularly Ontario.


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## My Own Advisor (Sep 24, 2012)

The deal should hold up, not worried about it. 

Where is the money going to go Spidey?


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## Spidey (May 11, 2009)

My Own Advisor said:


> The deal should hold up, not worried about it.
> 
> Where is the money going to go Spidey?


I'm going to sit on the money for now to see how the summer plays out. Generally, I'm a little overweight in Canadian assets and looking to readjust my balance when the opportunity arises. Looking at internationally exposed REITs or REIT ETFs (MRG.UN or CGR) or if the market tumbles further in the summer I will consider emerging market ETFs.


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## My Own Advisor (Sep 24, 2012)

I've been looking at REITs in the TFSA, that's where CLC is and when sold, the money will be. REITs are getting hit now.


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## Spidey (May 11, 2009)

I also believe that REITs currently offer good value and have recently added some names or increased some positions in my portfolio.


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## al42 (Mar 5, 2011)

My Own Advisor said:


> I too, was looking at DR. Rising cash flow and modest assets for a smaller-cap. Decent history of monthly dividends:
> 
> http://www.medicalfacilitiescorp.ca/section_inv_rel/distribution.htm


Only thing that scared me with DR is that it's all in the US.


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## favelle75 (Feb 6, 2013)

al42 said:


> I had 2 Canadian companies in the healthcare space, CML and Futuremed, both were cut in half before getting bought out at a substantial premium.
> There's DR.T,paladin labs and Valeant but I'm not to comfortable with DR and both Paladin and Valeant look a little overvalued to me.
> So, being a sucker for punishment, I added to my IMG and Goldcorp for a short term trade.


Cool man, let me know if you find anything. With the aging boomers, the healthcare stuff really appeals to me right now.


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## favelle75 (Feb 6, 2013)

My Own Advisor said:


> I too, was looking at DR. Rising cash flow and modest assets for a smaller-cap. Decent history of monthly dividends:
> 
> http://www.medicalfacilitiescorp.ca/section_inv_rel/distribution.htm


That doesn't sound half bad man.


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## favelle75 (Feb 6, 2013)

Spidey said:


> I'm going to sit on the money for now to see how the summer plays out. Generally, I'm a little overweight in Canadian assets and looking to readjust my balance when the opportunity arises. Looking at internationally exposed REITs or REIT ETFs (MRG.UN or CGR) or if the market tumbles further in the summer I will consider emerging market ETFs.





My Own Advisor said:


> I've been looking at REITs in the TFSA, that's where CLC is and when sold, the money will be. REITs are getting hit now.




Have a look at Northwest Healthcare (NWH.UN.TO). Its a medical REIT. I've had it for a month and its doing quite well. Yield is a little high at 7%, but I'm not complaining (yet).


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## doctrine (Sep 30, 2011)

I'm invested in DR; a 7.4% yield and a P/E which covers it and a dividend ncrease last year. I'm keeping a close eye on it though; their quarterly results vary quite a bit, I'll stay in as long as their trailing 12 month earnings cover the dividend, which so far it does.


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## favelle75 (Feb 6, 2013)

doctrine said:


> I'm invested in DR; a 7.4% yield and a P/E which covers it and a dividend ncrease last year. I'm keeping a close eye on it though; their quarterly results vary quite a bit, I'll stay in as long as their trailing 12 month earnings cover the dividend, which so far it does.


Because their business is in the US, is there witholding tax on the dividends if I have DR in a TFSA?


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## doctrine (Sep 30, 2011)

No, they are a Canadian registered company and all dividends are 'eligible' dividends under the Income Tax Act (Canada). Therefore in a TFSA, they would not be taxed. Likewise an RRSP.


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## favelle75 (Feb 6, 2013)

doctrine said:


> No, they are a Canadian registered company and all dividends are 'eligible' dividends under the Income Tax Act (Canada). Therefore in a TFSA, they would not be taxed. Likewise an RRSP.


Sweet! Thanks doctrine. Do they own any Canadian facilities as well? Just curious.


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## My Own Advisor (Sep 24, 2012)

http://www.digitaljournal.com/pr/1497212

MISSISSAUGA, ONTARIO--(Marketwired - Sept. 30, 2013) - CML HealthCare Inc. ("CML") (TSX:CLC) is pleased to announce that the Plan of Arrangement (the "Arrangement"), which provides for LifeLabs Ontario Inc. (the "Purchaser") to acquire all of the issued and outstanding common shares of CML in exchange for $10.75 per common share in cash, will be effective on October 1, 2013. The closing procedures for the Arrangement were carried out today, including the Purchaser funding the depositary with the purchase price, and CML has filed Articles of Arrangement under the Business Corporations Act (Ontario) to obtain a Certificate of Arrangement.

It is expected that the CML common shares will be delisted from the Toronto Stock Exchange at the close of trading on October 2, 2013.


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## favelle75 (Feb 6, 2013)

My Own Advisor said:


> http://www.digitaljournal.com/pr/1497212
> 
> MISSISSAUGA, ONTARIO--(Marketwired - Sept. 30, 2013) - CML HealthCare Inc. ("CML") (TSX:CLC) is pleased to announce that the Plan of Arrangement (the "Arrangement"), which provides for LifeLabs Ontario Inc. (the "Purchaser") to acquire all of the issued and outstanding common shares of CML in exchange for $10.75 per common share in cash, will be effective on October 1, 2013. The closing procedures for the Arrangement were carried out today, including the Purchaser funding the depositary with the purchase price, and CML has filed Articles of Arrangement under the Business Corporations Act (Ontario) to obtain a Certificate of Arrangement.
> 
> It is expected that the CML common shares will be delisted from the Toronto Stock Exchange at the close of trading on October 2, 2013.


And thus ends the first stock I ever purchased.


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