EXCHANGE INCOME CORP. $47 (Toronto symbol EIF; Shares outstanding: 47.2 million; Market cap: $2.2 billion; Dividend yield: 5.6%; www.exchangeincomecorp.ca) operates in aviation and manufacturing.
The Aviation unit (60% of its revenue) serves communities in Manitoba, Ontario, Nunavut and eastern Canada through regional airlines. As well, through its Regional One, this unit supplies regional airline operators around the world with various after-market aircraft, engines, and component parts.
The Manufacturing unit (40%) includes WesTower Communications (a maker and installer of communication towers) and Quest Window Stainless Fabrication.
Exchange Income pays a monthly dividend of $0.22. That makes for a high 5.6% yield.
However, the company prefers to expand through acquisitions, which adds considerable risk. Newly purchased companies may come with hidden problems or face unforeseen setbacks. As well, most of Exchange Income’s purchases are private businesses, which makes them difficult to value.
The company’s long-term debt of $1.74 billion is also a very high 80% of its market cap. That adds a lot of risk.
Considering these factors, we believe…
Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
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We are continuously in the process of improving our sites and services. If any new features or policies require a change to this current policy, we will post a clear notice of this change on pages of our site where the privacy policy appears. The principle behind this privacy policy is to collect information with your knowledge and consent.
What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Information from Other Sources: For reasons such as improving personalization of our service (for example, providing better product recommendations or special offers that we think will interest you), we might receive information about you from other sources and add it to our account information. We also sometimes receive updated delivery and address information from our shippers or other sources so that we can correct our records and deliver your next purchase or communication more easily.
We do reserve the right, however, to collect and perform statistical analyses of the internet traffic to our website for our internal use. However, information collected does not allow us to identify any individual, and will not collect any personal information of the visitor. Furthermore, we do not sell, rent or loan to any outside parties the information collected and analyzed.
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
This Policy is the sole authorized statement of TSI Network's practices with respect to the collection of personal information through TSI Network's websites and the subsequent use and disclosure of such information. Any summaries of this Policy generated by third party software or otherwise (for example, in connection with the "Platform for Privacy Preferences" or "P3P") shall have no legal effect, are in no way binding upon TSI Network, shall not be relied upon in substitute for this Policy, and neither supersede nor modify this Policy.
TSI Network may revise this Policy from time to time.
Legal Notices and Disclaimers
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