Automodular AM.to 1.94
Posted: Friday Aug 17 11:28:33AM 2012
AM was also mentioned in the Globe and Mail today (see below).
Have a great weekend.
Globe says Cogeco, others considered dividend leaders
2012-08-17 06:36 ET - In the
See In the News (C-CGO) Cogeco
The Globe and Mail attempts to identify stocks with fat yields and strong
fundamentals in its Friday, Aug. 17, edition. The Globe's Darcy Keith writes in
the Number Cruncher column that the fatter yields of dividend-paying stocks have
never looked more attractive. Mr. Keith says the trick is in finding companies
that are not only doling out cash to shareholders, but are also fundamentally
strong. Mr. Keith screened for income-producing Canadian stocks that score high
grades on the "12 guru-based" investing strategies developed by Validea Canada.
To make the cut, each stock had to score 80 per cent or higher in at least two
of Validea's computerized models. The gurus on whom these models are based
include both growth and value investors, including Warren Buffett, Benjamin
Graham, Peter Lynch, David Dreman, Kenneth Fisher, Martin Zweig, Joel
Greenblatt, James O'Shaughnessy, Joseph Piotroski and John Neff. There is also a
strategy based on a small-cap growth approach developed by the founders of the
Motley Fool website, and one that is based on a momentum strategy. Stocks that
made the cut are AutoCanada, Automodular, Bank of Montreal, Airboss Of America,
Cogeco and Canadian Helicopters Group.
Posted: Friday Aug 17 8:04:04AM 2012
8/21 is ex div date for Automodular. .06 dividend will be paid 9/6/12
Today the stock is bouncing back from a big loss yesterday as former CEO Blair continues his steady selling. He had 4 million shares + originally and is now down to 2.8 million as of 8/15. The company buyback program has caused Blair to accelerate the volume of his sales. Today could be the buyback program getting the stock near to C$2 or investors wanting to get the dividend. Fundamentals haven't changed, they've improved. .22 eps last qtr so AM.to is selling at fwd p/e ratio of 2.25 and dividend yield of over 12%
Posted: Wednesday Aug 8 11:20:58AM 2012
another great qtr for Automodular. .22eps and another .06 dividends
AJAX, ONTARIO--(Marketwire -08/08/12)- Automodular Corporation (AM.TO) ("Automodular") reports net earnings of $4.4 million or $0.22 per share for the three months ended June 30, 2012 compared to $2.6 million or $0.13 per share for the same three-month period ended June 30, 2011. For the six months ended June 30, 2012 and 2011 Automodular reports net earnings of $8.0 million and $6.1 million or $0.40 and $0.30 per share, respectively.
The results for the first half of the year are summarized below (all figures in '000s except per share amounts):
Three months ended June 30 Six months ended June 30 2012 2011 2012 2011 $ $ $ $ ---------------------------------------------------------------------------- Sales 29,701 18,537 53,519 39,297 Net earnings 4,388 2,550 8,019 6,097 Per share - basic 0.22 0.13 0.40 0.30 Per share - diluted 0.22 0.13 0.39 0.30 ---------------------------------------------------------------------------- ----------------------------------------------------------------------------
The Board of Directors has declared a $0.06 regular quarterly dividend payable September 6, 2012 to shareholders of record August 23, 2012.
Automodular also announces that John E. Blair has resigned from the Board of Directors, effective immediately.
Automodular Corporation is a supplier of sub-assembly, sequencing and transportation services to the automotive industry - Ford Motor Company's Oakville Assembly Plant - and the renewable energy industry - Vestas Nacelles A/S. The Company has three operating facilities and employs approximately 600 people.
This press release contains forward-looking statements that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are market and general economic conditions and the risk factors detailed from time to time in the Company's periodic reports filed with the Canadian securities regulatory authorities and on SEDAR at www.sedar.com. Readers are cautioned not to rely on forward-looking statements. Except as required under continuous disclosure obligations, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Automodular does not provide financial outlooks.
Christopher S. Nutt
President and CEO
Posted: Friday Aug 3 10:22:45AM 2012
Automodular has suffered for the past several months due to a former insider selling off millions of shares. This will hopefully counteract some of the sales. Automodular is a good value play. Earned .11eps last qtr and pays a .06 dividend per qtr.
TORONTO, ONTARIO--(Marketwire -08/03/12)- NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Automodular Corporation (AM.TO) ("Automodular" or "the Corporation") announces that the Toronto Stock Exchange ("TSX") has accepted the Corporation's notice of intention to make a normal course issuer bid. Under the terms of the normal course issuer bid, Automodular may acquire up to 1,317,000 common shares, representing 10% of the public float of Automodular's common shares issued and outstanding as of August 1, 2012, as defined by the policies of the TSX. In the opinion of the Board of Directors of Automodular, its common shares have over the last couple of months traded in a price range that does not reflect the underlying value of the Corporation and its strong financial position. Accordingly, depending upon future price movements and other factors, Automodular believes that its outstanding common shares represent an attractive investment and a desirable use of a portion of its corporate funds. Automodular's strong cash position allows for the implementation of the bid without adversely affecting other growth opportunities.
As of August 1, 2012, the Corporation had 20,393,679 common shares outstanding. The average daily trading volume of Automodular's shares over the last six completed calendar months was 72,343. Accordingly, under TSX rules and policies, Automodular is entitled on any trading day to purchase up to 18,085 common shares. Once a week, in excess of the daily 18,085 common share repurchase limit, Automodular may also purchase a block of shares not owned by an insider (i) having a purchase price of $200,000 or more, (ii) of at least 5,000 common shares having a purchase price of at least $50,000, or (iii) of at least 20 board lots of common shares which total 150% of the average daily trading volume in accordance with TSX rules.
The normal course issuer bid will begin on August 8, 2012 and purchases may commence on or about August 13, 2012, when Automodular comes out of its regular quarterly blackout period. The normal course issuer bid will terminate on August 7, 2013, or on such earlier date as Automodular may complete its purchases pursuant to the notice of intention to make a normal course issuer bid filed with the TSX. All shares purchased by the Corporation will be on the open market through the facilities of the TSX in accordance with the rules, regulations and policies of the TSX and will be cancelled. The prices that Automodular will pay for any of the common shares purchased will be the market price of the shares at the time of acquisition, determined in accordance with the rules of the TSX.
To the knowledge of Automodular, no director currently intends to sell any common shares under this bid. To the knowledge of Automodular one senior officer currently intends to sell up to 30,000 common shares during the course of this bid. To the knowledge of Automodular, two insiders holding 10% or more of any class of equity securities of Automodular may sell shares during the course of the normal course issuer bid depending on factors including but not limited to the depth of the market bid, assessment of business value and liquidity needs. However, sales by such persons through the facilities of the TSX may or may not occur if the personal circumstances of any such person change or any such person makes a decision unrelated to these normal course purchases. The benefits to any such person whose shares are purchased would be the same as the benefits available to all other holders whose shares are purchased. There are no agreements in place to sell securities under the normal course issuer bid.
Automodular is a supplier of sub-assembly, sequencing and transportation services to the automotive industry - Ford Motor Company's Oakville Assembly Plant - and the renewable energy industry - Vestas Nacelles A/S. The Company has three operating facilities and employs approximately 535 people.