Topic: How To Invest

Power Growth Investor Hotline – Friday, December 10, 2021

Article Excerpt

ALIMENTATION COUCHE-TARD INC., $50.00, is a buy. The retailer (symbol ATD on Toronto) operates 12,270 convenience stores across North America and Europe. On Wednesday, December 8. 2021, the company ended its dual-class share structure. That’s when it converted all of its outstanding class B shares to class A shares on a one-for-one basis. The stock now trades only under the symbol ATD. A so-called sunset clause was put in place in 1995 to bring an end to the dual-class share structure when the youngest of the company founders turned 65 or passed away. The clause was triggered Wednesday with the birthday of the youngest founder, Jacques D’Amours. The class A shares owned by the four founders—D’Amours, Alain Bouchard, Richard Fortin and Réal Plourde—carried 10 votes per share while class B shares carry one vote per share. The four founders unsuccessfully tried to extend their voting rights in 2016, but a shareholder vote on the proposal was cancelled after they concluded the necessary two-thirds support…