Earnings
April 17, 2019 - BNS
New! Bank of Nova Scotia, Q1-2019 Earnings & Price Target Update .....
April 17, 2019 - RY
New! Royal Bank of Canada - Q1-2019 Earnings, Price Target Update .....
April 16, 2019 - TD
New! TD Bank - Q1-2019 Earnings, Price Target Update .....
April 14, 2019 - HR.UN
H&R REIT - 2018 Earnings & Price Target Update .....
April 13, 2019 - AX.UN
Artis REIT - 2018 Earnings, Price Target Forecast .....
April 11, 2019 - TA
Transalta Corporation - 2018 Earnings, Brookfield Offer .....
April 9, 2019 - RNW
Transalta Renewables Inc. - 2018 Earnings & Price Target Forecast .....
April 7, 2019 - INE
Innergex Renewable Energy 2018 Earnings & Price Target Update .....
Recommendation Changes
AX.UN, PEGI, NPI, NFI, ALA, more...
Adjusted Funds from Operations

Adjusted Funds from Operations (AFFO) is the amount of cash (or near cash) generated by a business,  including costs necessary to sustain productive capacity. AFFO can be retained and used internally to fund growth, or can be distributed to owners.

AFFO stands for Adjusted Funds from Operations. This amount is determined by starting with net income(as determined under Generally Accepted Accounting Principles), and adjusting for non cash amounts or amounts related to capital spending. Examples of non cash amounts would be unrealized gains or losses on hedging contracts. It also includes depreciation, depletion or amortization which are a non-cash expenses. Capital spending can be identified as either growth or sustaining. If determined to be sustaining this is deducted from AFFO.

Other terms that essentially mean much the same as AFFO are Distributable Cash, Adjusted Operating Net Income and Free Cash flow. AFFO is most meaningful when calculated on a per share basis then compared with dividends per share to determine the AFFO payout ratio.


Produced by H.C. Levant, – Reproduction of this material in part or it’s entirety is subject to copyright licensing agreements and is forbidden except only with the express written consent of the author.

New Issues & Acquisition
April 18, 2019
New! Surge Energy Inc 6.75% Convertible Debenture New Issue
April 12, 2019
New! Coverage Universe - Weekly Price Changes - Apr. 5-12, 2019
April 8, 2019
Bank of Montreal 5.1% Rate Reset Preferred Share New Isssue
April 5, 2019
Coverage Universe - Weekly Price Changes - Mar 29-Apr 5, 2019
March 29, 2019
Coverage Universe - Weekly Price Changes - Mar 22-29, 2019
March 28, 2019
Element Financial Corp. 4.25% Convertible Debenture New Issue
March 22, 2019
Coverage Universe - Weekly Price Changes - Mar 15-22, 2019
March 21, 2019
Atrium Mortgage Investment Corporation - New Convertible Debenture