First Quarter Conference Call May 9, 2013 - Dorel Industries
First Quarter Conference Call May 9, 2013 - Dorel Industries
First Quarter Conference Call May 9, 2013 - Dorel Industries
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FINAL TRANSCRIPT<br />
<strong>May</strong> 9, <strong>2013</strong> – 01:00 p.m. E.T.<br />
<strong>Dorel</strong> <strong>Industries</strong> <strong>First</strong> <strong>Quarter</strong> Results<br />
Jeffrey Schwartz<br />
Well, it's the board's view, which I share, that we shouldn't be raising a dividend in a bad<br />
quarter. You know, some people could have the opposite view, that, you know, if you have a bad<br />
quarter, if you raise the dividend, at least you make some people happy. But I think our view is, you<br />
know, when everything's stabilized, we can look at it again. But I think it is our intention to seriously<br />
look at it every year and see if we can increase it. So you know, we'll definitely be looking at it again<br />
in Q2. But that's all I can commit to at this point.<br />
Mark Petrie<br />
You don't have any sort of targeted payout or anything like that?<br />
Jeffrey Schwartz<br />
No. No, we don't. We really don't, because you know what? There's still acquisitions out<br />
there that we've been working on. You know, we're always working on them. If something comes,<br />
then, depending on its materiality, that could affect how much the dividend is. But you know, we'll<br />
have to see as we get every quarter.<br />
Mark Petrie<br />
Okay. And how are you thinking about share buy‐backs right now?<br />
Jeffrey Schwartz<br />
Probably, you know, less important than the dividend. So you know, again acquisitions are<br />
important or paying down of debt. And you know, looking to see if we can increase our dividend is<br />
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