Stock price when the opinion was issued
Second biggest cable supplier in Ontario and Québec, along with 400,000 subscribers in Pennsylvania, Florida and Maryland. The big thing is, it is purely a distributor. It doesn’t have the content, so is indifferent as to which channels you choose to pick and pay for. Trading at 10X earnings and has a 1.9% dividend yield. Share price is down 13% while it is the least affected of any of the telcos.
Are protected from the giants (Rogers et al) because the CRTC is helping CGO get more wire lines. In the US, Cogeco is moving into streaming services, so they don't need to spend as much on capex as the giants. US operations are growing faster than here. So, their debt is lower than the giants. Is like an asset-lite telco. Can increase their dividend 10% annually, unlike Rogers. Pays a 5.5% yield. Low risk at 0.8 beta.