The Rising Influence of Rising Affluence

[jbog]

I agree that any asset should be sold for the right price. The problem became evident when management promised not to ever rollback the dividend and then it became dependent on selling assets to meet the dividend.

For crying out load, for the first nine months of 2015 property sales constituted 75% of its profit. The comparable period of 2014 when property sales amounted for $95 million of its $145 million profit (65%)!!! In both periods PCL had no option but to sell property to cover the Div.

Was PCL a property company or a timber company?