This report should not be construed as providing investment advice. It is for educational purposes only.  Before making any investment decision, you should always do your own research or consult a investment professional.														Estimates	Estimates	Estimates
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet.														Q1 2024				CHANGING NAME TO ADENTRA
See my website on stocks or see my blog at the following sites.							https://spbrunner.com/stocks.html				https://spbrunner.blogspot.com/							TSX ADEN
Adentra Inc					TSX	Aden	OTC	HDIUF	https://adentragroup.com/			Fiscal Yr:	Dec 31					https://www.annualreports.com/Company/adentra
Year	12/31/11	12/31/12	12/31/13	12/31/14	12/31/15	12/31/16	12/31/17	12/31/18	12/31/19	12/31/20	12/31/21	12/31/22	12/31/23	12/31/24	12/31/25	12/31/26		Value	Description	#Y	Item	Total G	Currency
Accounting Rules				IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS					Accounting Rules
Currency										<--CDN$	US$-->
USD - CDN$	1.0170	0.9949	1.0636	1.1601	1.3847	1.3427	1.2545	1.3642	1.2988	1.2732	1.2678	1.3544	1.3226	1.3681	1.3681	1.3681		1.54%	<-IRR #YR->	4	USD - CDN$
Change	2.25%	-2.17%	6.91%	9.07%	19.36%	-3.04%	-6.57%	8.74%	-4.79%	-1.97%	-0.42%	6.83%	-2.35%	3.44%	0.00%	0.00%		3.13%	<-IRR #YR->	9	USD - CDN$
Exchange 5 years								-1.2545	0.0000	0.0000	0.0000	0.0000	1.3544
Exchange 10 years			-0.9949	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	1.3544
Cost of Goods Sold										$749.9	$1,243.3	$2,022.8	$1,773.2								Cost of Goods Sold
Change											65.80%	62.70%	-12.34%								Change
Ratio										0.77	0.77	0.78	0.79								Ratio
Operating Expenses										$134.9	$224.6	$360.1	$373.8								Operating Expenses
Change											66.48%	60.35%	3.80%								Change
Ratio										0.14	0.14	0.14	0.17								Ratio
Total										$884.8	$1,467.9	$2,382.9	$2,147.0								Total
Change											65.90%	62.34%	-9.90%								Change
Ratio										0.90	0.91	0.92	0.96								Ratio
														$2,195	<-12 mths	-2.00%
Revenue* US$	$226.2	$307.7	$349.0	$392.8	$412.8	$587.9	$826.7	$831.5	$902.3	$978.1	$1,616.2	$2,579.6	$2,239.3	$2,199	$2,293			541.61%	<-Total Growth	10	Revenue
Increase	13.81%	36.03%	13.44%	12.55%	5.09%	42.41%	40.62%	0.58%	8.52%	8.40%	65.24%	59.61%	-13.19%	-1.80%	4.27%			20.43%	<-IRR #YR->	10	Revenue	541.61%	US$
5 year Running Average	$230.5	$224.9	$252.8	$294.9	$337.7	$410	$514	$610	$712	$825	$1,031	$1,382	$1,663	$1,922.4	$2,185.4			21.91%	<-IRR #YR->	5	Revenue	169.33%	US$
Revenue per Share	$14.05	$18.77	$21.10	$23.59	$24.63	$27.53	$38.59	$38.60	$42.25	$46.05	$68.20	$113.67	$99.83	$98.04	$102.23			20.73%	<-IRR #YR->	10	5 yr Running Average	557.87%	US$
Increase	28.17%	33.54%	12.45%	11.79%	4.39%	11.81%	40.16%	0.02%	9.46%	8.98%	48.11%	66.67%	-12.17%	-1.80%	4.27%			22.20%	<-IRR #YR->	5	5 yr Running Average	172.50%	US$
5 year Running Average	$13.08	$13.11	$15.00	$17.69	$20.43	$23.12	$27.09	$30.59	$34.32	$38.61	$46.74	$61.75	$74.00	$85.16	$96.39			16.81%	<-IRR #YR->	10	Revenue per Share	373.09%	US$
P/S (Price/Sales) Med	0.31	0.24	0.34	0.42	0.47	0.46	0.35	0.30	0.25	0.29	0.43	0.24	0.23	0.28	0.00			20.93%	<-IRR #YR->	5	Revenue per Share	158.62%	US$
P/S (Price/Sales) Close	0.23	0.26	0.42	0.42	0.52	0.49	0.39	0.19	0.30	0.44	0.51	0.18	0.24	0.30	0.28			17.30%	<-IRR #YR->	10	5 yr Running Average	393.26%	US$
*Sales in M US $					P/S Med	20 yr	0.30	15 yr	0.30	10 yr	0.33	5 yr	0.25		-9.66%	Diff M/C		19.33%	<-IRR #YR->	5	5 yr Running Average	141.92%	US$
			-$349.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$2,239.3
								-$831.5	$0.0	$0.0	$0.0	$0.0	$2,239.3
			-$252.8	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$1,663.1
								-$610.3	$0.0	$0.0	$0.0	$0.0	$1,663.1
			-$21.10	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$99.83
								-$38.60	$0.00	$0.00	$0.00	$0.00	$99.83
			-$15.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$74.00
								-$30.59	$0.00	$0.00	$0.00	$0.00	$74.00
														$3,002	<-12 mths	1.37%
Revenue* CDN$	$230.0	$306.1	$371.2	$455.7	$571.6	$789.3	$1,037.0	$1,134.3	$1,171.9	$1,245.3	$2,049	$3,494	$2,962	$3,008	$3,137			697.85%	<-Total Growth	10	Revenue
Increase	16.37%	33.07%	21.28%	22.76%	25.43%	38.09%	31.38%	9.38%	3.32%	6.26%	64.54%	70.51%	-15.23%	1.58%	4.27%			23.08%	<-IRR #YR->	10	Revenue	697.85%	CDN$
5 year Running Average	$241.3	$236.2	$259.2	$312.1	$386.9	$499	$645	$798	$941	$1,076	$1,327.5	$1,818.9	$2,184.3	$2,551.7	$2,930.0			21.16%	<-IRR #YR->	5	Revenue	161.11%	CDN$
Revenue per Share	$14.29	$18.67	$22.44	$27.37	$34.10	$36.97	$48.41	$52.66	$54.88	$58.63	$86.46	$153.95	$132.04	$134.12	$139.86			23.76%	<-IRR #YR->	10	5 yr Running Average	742.79%	CDN$
Increase	31.06%	30.64%	20.22%	21.93%	24.61%	8.41%	30.96%	8.77%	4.21%	6.83%	47.48%	78.06%	-14.23%	1.58%	4.27%			22.32%	<-IRR #YR->	5	5 yr Running Average	173.87%	CDN$
5 year Running Average	$13.69	$13.74	$15.38	$18.74	$23.37	$27.91	$33.86	$39.90	$45.40	$50.31	$60.21	$81.32	$97.19	$113.04	$129.29			19.39%	<-IRR #YR->	10	Revenue per Share	488.30%	CDN$
P/S (Price/Sales) Med	0.21	0.24	0.32	0.40	0.44	0.47	0.39	0.30	0.26	0.30	0.42	0.19	0.23	0.28	0.00			20.18%	<-IRR #YR->	5	Revenue per Share	150.74%	CDN$
P/S (Price/Sales) Close	0.24	0.28	0.43	0.42	0.54	0.48	0.42	0.21	0.30	0.43	0.51	0.18	0.24	0.31				20.24%	<-IRR #YR->	10	5 yr Running Average	531.86%	CDN$
*Sales in M CDN $					P/S Med	20 yr	0.30	15 yr	0.30	10 yr	0.35	5 yr	0.26		-11.86%	Diff M/C		19.49%	<-IRR #YR->	5	5 yr Running Average	143.57%	CDN$
			-$371.2	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$2,961.7
								-$1,134.3	$0.0	$0.0	$0.0	$0.0	$2,961.7
			-$259.2	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$2,184.3
								-$797.6	$0.0	$0.0	$0.0	$0.0	$2,184.3
			-$22.44	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$132.04
								-$52.66	$0.00	$0.00	$0.00	$0.00	$132.04
			-$15.38	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$97.19
								-$39.90	$0.00	$0.00	$0.00	$0.00	$97.19
														$2.51	<-12 mths	4.58%
Adjusted Net Income US$	$6.0	$6.2	$12.3	$12.1	$14.5	$18.9	$24.9	$25.2	$24.6	$34.6	$111.7	$133.6	$54.4					342.43%	<-Total Growth	10	Adjusted Net Income US$
Return on Equity ROE	8.44%	8.13%	14.41%	12.90%	14.09%	11.23%	13.06%	12.01%	11.27%	14.43%	26.98%	26.35%	10.32%					12.98%	<-Median->	10	Return on Equity ROE
5Yr Median		1.72%	8.13%	8.44%	12.90%	12.90%	13.06%	12.90%	12.01%	12.01%	13.06%	14.43%	14.43%					12.90%	<-Median->	10	5 Yr Median
Basic	$0.39	$0.38	$0.75	$0.72	$0.87	$1.01	$1.16	$1.17	$1.15	$1.64	$5.21	$5.71	$2.43					223.07%	<-Total Growth	10	AEPS
AEPS* Dilued	$0.38	$0.38	$0.74	$0.72	$0.87	$0.99	$1.16	$1.17	$1.15	$1.62	$5.17	$5.68	$2.40	$3.01	$3.46			223.12%	<-Total Growth	10	AEPS
Increase	444.87%	-0.40%	94.47%	-2.52%	19.68%	14.30%	16.69%	0.84%	-1.57%	41.03%	219.54%	9.86%	-57.75%	25.42%	14.95%			10	0	10	Years of Data, EPS P or N	100.00%	US$
AEPS Yield	11.72%	7.82%	8.30%	7.34%	6.72%	7.33%	7.65%	15.82%	9.01%	8.04%	14.76%	27.85%	9.88%	10.39%	11.95%			12.44%	<-IRR #YR->	10	AEPS	223.12%	US$
5 year Running Average		-$0.11	$0.45	$0.46	$0.62	$0.74	$0.90	$0.98	$1.07	$1.22	$2.05	$2.96	$3.20	$3.58	$3.94			15.54%	<-IRR #YR->	5	AEPS	105.92%	US$
Payout Ratio	20.51%	26.32%	17.09%	20.24%	16.67%	17.11%	17.93%	18.71%	21.48%	16.50%	6.10%	6.24%	16.38%	0.00%	0.00%			#NUM!	<-Power->	10	5 yr Running Average	609.59%	US$
5 year Running Average		4.60%	12.78%	16.83%	20.16%	19.48%	17.81%	18.13%	18.38%	18.35%	16.15%	13.81%	13.34%	9.05%	5.74%			26.71%	<-IRR #YR->	5	5 yr Running Average	226.67%	US$
Price/AEPS Median	11.53	11.84	9.73	13.68	13.29	12.77	11.76	9.99	9.20	8.16	5.66	4.81	9.51	9.16	0.00			9.75	<-Median->	10	Price/AEPS Median		US$
Price/AEPS High	8.65	14.54	12.05	15.59	15.87	14.52	14.80	13.66	11.10	12.92	7.54	6.67	11.54	10.54	0.00			13.29	<-Median->	10	Price/AEPS High		US$
Price/AEPS Low	14.41	9.15	7.41	11.78	10.71	11.01	8.72	6.32	7.30	3.40	3.79	2.94	7.48	7.78	0.00			7.39	<-Median->	10	Price/AEPS Low		US$
Price/AEPS Close	8.54	12.79	12.05	13.62	14.88	13.65	13.07	6.32	11.10	12.44	6.77	3.59	10.13	9.62	8.37			11.77	<-Median->	10	Price/AEPS Close		US$
Trailing P/AEPS Close	46.51	12.74	23.43	13.28	17.81	15.60	15.25	6.38	10.93	17.54	21.64	3.94	4.28	12.07	9.62			14.26	<-Median->	10	Trailing P/AEPS Close		US$
Median Values		DPR	10 Yrs	16.89%	5 Yrs	16.38%	P/CF	5 Yrs	in order	8.16	11.10	3.79	10.13		17.93%	Diff M/C					DPR 75% to 95% best		US$
* Adjusted Earnings per Share
			-$0.74	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.40
								-$1.17	$0.00	$0.00	$0.00	$0.00	$2.40
			-$0.45	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.20
								-$0.98	$0.00	$0.00	$0.00	$0.00	$3.20
														$3.43	<-12 mths	8.18%
Adjusted Net Income CDN$	$6.1	$6.2	$13.1	$14.0	$20.1	$25.4	$31.2	$34.3	$31.9	$44.1	$141.6	$180.9	$71.9					450.16%	<-Total Growth	10	Adjusted Net Income CDN$
Return on Equity ROE	8.44%	8.13%	14.41%	12.90%	14.09%	11.23%	13.06%	12.01%	11.27%	14.43%	26.98%	26.35%	10.32%					12.98%	<-Median->	10	Return on Equity ROE
5Yr Median		1.73%	8.13%	8.44%	12.90%	12.90%	13.06%	12.90%	12.01%	12.01%	13.06%	14.43%	14.43%					12.90%	<-Median->	10	5 Yr Median
Basic	$0.40	$0.38	$0.80	$0.84	$1.20	$1.35	$1.46	$1.60	$1.49	$2.09	$6.61	$7.73	$3.21					301.74%	<-Total Growth	10	AEPS
AEPS* Dilued	$0.39	$0.38	$0.79	$0.84	$1.20	$1.33	$1.45	$1.59	$1.49	$2.06	$6.55	$7.69	$3.17	$4.12	$4.73			301.80%	<-Total Growth	10	AEPS
Increase	457.14%	-2.56%	107.89%	6.33%	42.86%	10.83%	9.02%	9.66%	-6.29%	38.26%	218.18%	17.37%	-58.74%	29.73%	14.95%			10	0	10	Years of Data, EPS P or N	100.00%	CDN$
AEPS Yield	11.17%	7.38%	8.11%	7.29%	6.57%	7.44%	7.18%	14.65%	9.14%	8.14%	14.99%	27.15%	9.93%	10.05%	11.55%			14.92%	<-IRR #YR->	10	AEPS	301.80%	CDN$
5 year Running Average		-$0.19	$0.47	$0.49	$0.72	$0.91	$1.12	$1.28	$1.41	$1.58	$2.63	$3.88	$4.19	$4.72	$5.25			14.83%	<-IRR #YR->	5	AEPS	99.64%	CDN$
Payout Ratio	20.51%	26.32%	17.09%	20.24%	16.67%	17.11%	17.93%	18.71%	21.48%	16.50%	6.10%	6.24%	16.38%	13.60%	11.83%			#NUM!	<-Power->	10	5 yr Running Average	796.23%	CDN$
5 year Running Average		4.60%	12.78%	16.83%	20.16%	19.48%	17.81%	18.13%	18.38%	18.35%	16.15%	13.81%	13.34%	11.77%	10.83%			26.75%	<-IRR #YR->	5	5 yr Running Average	227.17%	CDN$
Price/AEPS Median	7.65	11.96	9.15	12.94	12.55	13.14	13.14	9.86	9.57	8.53	5.60	3.77	9.45	9.02	0.00			9.72	<-Median->	10	Price/AEPS Median		CDN$
Price/AEPS High	8.95	14.74	11.58	14.62	15.38	14.74	15.14	13.31	11.23	13.19	7.40	4.56	11.28	10.59	0.00			13.25	<-Median->	10	Price/AEPS High		CDN$
Price/AEPS Low	6.36	9.18	6.71	11.26	9.73	11.54	11.15	6.42	7.91	3.86	3.80	2.98	7.61	7.46	0.00			7.76	<-Median->	10	Price/AEPS Low		CDN$
Price/AEPS Close	8.95	13.55	12.33	13.71	15.23	13.44	13.93	6.82	10.94	12.29	6.67	3.68	10.07	9.95	8.66			11.62	<-Median->	10	Price/AEPS Close		CDN$
Trailing P/AEPS Close	49.86	13.21	25.63	14.58	21.75	14.90	15.19	7.48	10.25	16.99	21.23	4.32	4.16	12.91	9.95			14.74	<-Median->	10	Trailing P/AEPS Close		CDN$
Median Values		DPR	10 Yrs	16.89%	5 Yrs	16.38%	P/CF	5 Yrs	in order	8.53	11.23	3.86	10.07		Diff M/C						DPR 75% to 95% best		CDN$
* Adjusted Earnings per Share
*Adjusted Profit			-$0.79	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.17
								-$1.59	$0.00	$0.00	$0.00	$0.00	$3.17
			-$0.47	$0.00	$0.00	-$0.91	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$4.19
								-$1.28	$0.00	$0.00	$0.00	$0.00	$4.19
														$1.64	<-12 mths	3.14%
EPS Basic US$	$0.39	$0.38	$0.75	$0.73	$0.87	$0.95	$1.12	$1.10	$1.06	$1.40	$4.81	$5.50	$1.61					114.05%	<-Total Growth	10	EPS Basic
EPS Diluted*	$0.38	$0.38	$0.74	$0.72	$0.87	$0.93	$1.11	$1.09	$1.06	$1.38	$4.77	$5.47	$1.59	$2.46	$3.08	$3.89		114.07%	<-Total Growth	10	EPS Diluted
Increase	444.87%	-0.40%	94.47%	-2.52%	19.68%	7.43%	19.02%	-1.43%	-2.72%	30.10%	245.07%	14.68%	-70.93%	54.72%	25.20%	26.30%		10	0	10	Years of Data, EPS P or N	100.00%	US$
Earnings Yield	11.72%	7.82%	8.30%	7.34%	6.72%	6.89%	7.33%	14.82%	8.34%	6.87%	13.62%	26.82%	6.54%	741.75%	1170.24%	1582.25%		7.91%	<-IRR #YR->	10	Earnings per Share	114.07%	US$
5 year Running Average	$0.03	-$0.11	$0.45	$0.46	$0.62	$0.73	$0.87	$0.94	$1.01	$1.12	$1.88	$2.76	$2.85	$3.13	$3.47	$3.30		7.80%	<-IRR #YR->	5	Earnings per Share	45.58%	US$
10 year Running Average			$0.31	$0.30	$0.31	$0.38	$0.38	$0.70	$0.74	$0.87	$1.31	$1.81	$1.90	$2.07	$2.29	$2.59		#NUM!	<-Power->	10	5 yr Running Average	532.48%	US$
* Diluted ESP per share									E/P	10 Yrs	7.34%	5Yrs	8.34%					24.76%	<-IRR #YR->	5	5 yr Running Average	202.32%	US$
			-$0.74	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.59
								-$1.09	$0.00	$0.00	$0.00	$0.00	$1.59
			-$0.45	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.85
								-$0.94	$0.00	$0.00	$0.00	$0.00	$2.85
														$2.24	<-12 mths	6.69%
EPS Basic CDN$	$0.40	$0.38	$0.80	$0.85	$1.21	$1.27	$1.40	$1.50	$1.38	$1.78	$6.10	$7.45	$2.13					166.17%	<-Total Growth	10	EPS Basic
EPS Diluted*	$0.39	$0.38	$0.79	$0.84	$1.20	$1.25	$1.39	$1.49	$1.38	$1.76	$6.05	$7.41	$2.10	$3.37	$4.21	$5.32		166.19%	<-Total Growth	10	EPS Diluted
Increase	457.14%	-2.56%	107.89%	6.33%	42.86%	4.17%	11.20%	7.19%	-7.38%	27.54%	243.60%	22.51%	-71.61%	60.04%	25.20%	26.30%		10	0	10	Years of Data, EPS P or N	100.00%	CDN$
Earnings Yield	11.17%	7.38%	8.11%	7.29%	6.57%	6.99%	6.88%	13.73%	8.47%	6.95%	13.83%	26.14%	6.58%	8.21%	10.28%	12.99%		10.29%	<-IRR #YR->	10	Earnings per Share	166.19%	CDN$
5 year Running Average	-$0.05	-$0.19	$0.47	$0.49	$0.72	$0.89	$1.09	$1.23	$1.34	$1.45	$2.41	$3.62	$3.74	$4.14	$4.63	$4.48		7.13%	<-IRR #YR->	5	Earnings per Share	41.14%	CDN$
10 year Running Average			$0.31	$0.29	$0.32	$0.42	$0.45	$0.85	$0.92	$1.09	$1.65	$2.36	$2.49	$2.74	$3.04	$3.45		#NUM!	<-Power->	10	5 yr Running Average	699.10%	CDN$
* Diluted ESP per share									E/P	10 Yrs	7.14%	5Yrs	8.47%					24.83%	<-IRR #YR->	5	5 yr Running Average	203.06%	CDN$
			-$0.79	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.10
								-$1.49	$0.00	$0.00	$0.00	$0.00	$2.10
			-$0.47	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.74
								-$1.23	$0.00	$0.00	$0.00	$0.00	$3.74
Dividend* US$														$0.46	$0.50				Estimates		Dividend*		US$
Increase														18.12%	8.51%				Estimates		Increase		US$
Payout Ratio EPS														18.88%	16.36%				Estimates		Payout Ratio EPS		US$
Special Dividends US$, CDN$ Paying	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00		$0.00	<-Median->	10	Special Dividends		US$
Dividend*	$0.079	$0.101	$0.127	$0.147	$0.144	$0.169	$0.207	$0.218	$0.246	$0.267	$0.316	$0.354	$0.393	$0.409	$0.409	$0.409		172.22%	<-Total Growth	8	Dividends		US$
Increase	0.00%	27.78%	26.28%	15.45%	-1.44%	17.31%	22.32%	5.22%	12.98%	8.39%	18.15%	12.33%	10.94%	4.11%	0.00%	0.00%		13	4	19	Years of data, Count P, N	68.42%	US$
Average Increases 5 Year Running	-26.74%	-23.15%	-9.19%	13.90%	13.61%	17.08%	15.99%	11.77%	11.28%	13.24%	13.41%	11.41%	12.56%	10.78%	9.10%	5.48%		13.33%	<-Median->	10	Average Incr 5 Year Running		US$
Dividends 5 Yr Running	$0.29	$0.13	$0.06	$0.09	$0.12	$0.14	$0.16	$0.18	$0.20	$0.22	$0.25	$0.28	$0.32	$0.35	$0.38	$0.40		415.02%	<-Total Growth	10	Dividends 5 Yr Running		US$
Yield H/L Price	1.78%	2.22%	1.76%	1.48%	1.25%	1.34%	1.52%	1.87%	2.33%	2.02%	1.08%	1.30%	1.72%	1.49%				1.50%	<-Median->	10	Yield H/L Price		US$
Yield on High  Price	2.37%	1.81%	1.42%	1.30%	1.05%	1.18%	1.21%	1.37%	1.94%	1.28%	0.81%	0.93%	1.42%	1.29%				1.24%	<-Median->	10	Yield on High  Price		US$
Yield on Low Price	1.42%	2.88%	2.30%	1.72%	1.56%	1.55%	2.06%	2.96%	2.94%	4.86%	1.61%	2.12%	2.19%	1.75%				2.09%	<-Median->	10	Yield on Low Price		US$
Yield on Close Price	2.40%	2.06%	1.42%	1.49%	1.12%	1.25%	1.37%	2.96%	1.93%	1.33%	0.90%	1.74%	1.62%	1.41%	1.41%	1.41%		1.43%	<-Median->	10	Yield on Close Price		US$
Payout Ratio EPS	20.51%	26.32%	17.09%	20.24%	16.67%	18.20%	18.71%	19.97%	23.19%	19.32%	6.61%	6.48%	24.73%	16.64%	13.29%	10.52%		19.01%	<-Median->	10	DPR EPS		US$
DPR EPS 5 Yr Running	857.83%	-123.09%	13.56%	19.66%	19.27%	18.86%	18.17%	18.76%	19.48%	19.87%	13.32%	10.17%	11.04%	11.10%	10.83%	11.98%		18.81%	<-Median->	10	DPR EPS 5 Yr Running		US$
Payout Ratio CFPS	50.73%	-47.23%	49.48%	22.73%	16.16%	33.11%	31.11%	154.78%	7.36%	8.82%	-11.43%	3.82%	3.70%	10.50%	8.04%	#DIV/0!		12.49%	<-Median->	10	DPR CF		US$
DPR CF 5 Yr Running	55.54%	55.11%	55.29%	69.12%	34.37%	32.85%	26.73%	31.00%	17.73%	14.41%	28.38%	10.75%	6.71%	7.23%	7.20%	#DIV/0!		27.55%	<-Median->	10	DPR CF 5 Yr Running		US$
Payout Ratio CFPS WC	9.38%	21.93%	13.77%	11.22%	9.32%	16.49%	17.56%	33.46%	6.38%	7.53%	3.91%	3.02%	5.22%	10.50%	8.04%	#DIV/0!		8.43%	<-Median->	10	DPR CF WC		US$
DPR CF WC 5 Yr Running	25.16%	15.21%	8.07%	11.48%	11.77%	13.07%	13.28%	15.50%	11.92%	10.80%	7.25%	5.03%	4.54%	5.00%	5.18%	#DIV/0!		11.62%	<-Median->	10	DPR CF WC 5 Yr Running		US$
Median Values	10 Yr Med	10 Yr Cl	1.50%	1.43%	5 Yr Med	5 Yr Cl	1.72%	1.62%	5 Yr Med	Payout	19.32%	3.82%	5.22%					12.51%	<-IRR #YR->	5	Dividends	80.29%	US$
* Dividends per share	10 Yr Med	and Cur.	-5.88%	-1.08%	5 Yr Med	and Cur.	-17.94%	-12.64%	Last Div Inc --->		$0.850	$1.000	17.65%					11.97%	<-IRR #YR->	10	Dividends	209.76%	US$
Dividends Growth 15																		-1.46%	<-IRR #YR->	15	Dividends	-19.76%	US$
Dividends Growth 20																		-2.25%	<-IRR #YR->	19	Dividends	#DIV/0!	US$
Dividends Growth 5								-$0.22	$0.00	$0.00	$0.00	$0.00	$0.39								Dividends Growth 5
Dividends Growth 10			-$0.13	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.39								Dividends Growth 10
Dividends Growth 15	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.39								Dividends Growth 15
Dividends Growth 20	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.39								Dividends Growth 20
Historical Dividends	Historical	High Div	4.10%	Low Div	0.86%	10 Yr High	4.67%	10 Yr Low	0.82%	Med Div	1.72%	Close Div	1.49%								Historical Dividends		US$
High/Ave/Median Values	Curr diff	Exp.	-65.52%	Cheap	64.36%	Exp.	-69.73%		72.38%	Exp.	-17.82%	Exp.	-4.88%								High/Ave/Median		US$
Future Dividend Yield					Div Yield	2.55%	earning in	5	Years	at IRR of	12.51%	Div Inc.	80.29%								Future Dividend Yield		US$
Future Dividend Yield					Div Yield	4.59%	earning in	10	Years	at IRR of	12.51%	Div Inc.	225.04%								Future Dividend Yield		US$
Future Dividend Yield					Div Yield	8.28%	earning in	15	Years	at IRR of	12.51%	Div Inc.	486.00%								Future Dividend Yield		US$
Future Dividend Paid					Div Paid	$0.74	earning in	5	Years	at IRR of	12.51%	Div Inc.	80.29%								Future Dividend Paid		US$
Future Dividend Paid					Div Paid	$1.33	earning in	10	Years	at IRR of	12.51%	Div Inc.	225.04%								Future Dividend Paid		US$
Future Dividend Paid					Div Paid	$2.40	earning in	15	Years	at IRR of	12.51%	Div Inc.	486.00%								Future Dividend Paid		US$
Dividend Covering Cost					Total Div	$2.63	over	5	Years	at IRR of	12.51%	Div Cov.	792.08%								Dividend Covering Cost		US$
Dividend Covering Cost					Total Div	$6.62	over	10	Years	at IRR of	12.51%	Div Cov.	1997.58%								Dividend Covering Cost		US$
Dividend Covering Cost					Total Div	$13.83	over	15	Years	at IRR of	12.51%	Div Cov.	4170.95%								Dividend Covering Cost		US$
Dividend* CDN$														$0.64	$0.69				Estimates		Dividend*		CDN$
Increase														22.18%	8.51%				Estimates		Increase		CDN$
Yield														1.55%	1.68%
Payout Ratio EPS														18.88%	16.36%				Estimates		Payout Ratio EPS		CDN$
Special Dividends CDN$ Paying	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00		$0.00	<-Median->	10	Special Dividends		CDN$
Dividend*	$0.080	$0.100	$0.135	$0.170	$0.200	$0.228	$0.260	$0.298	$0.320	$0.340	$0.400	$0.480	$0.520	$0.560	$0.560	$0.560		160.00%	<-Total Growth	8	Dividends		CDN$
Increase	0.00%	25.00%	35.00%	25.93%	17.65%	13.75%	14.29%	14.42%	7.56%	6.25%	17.65%	20.00%	8.33%	7.69%	0.00%	0.00%		13	4	19	Years of data, Count P, N	68.42%	CDN$
Average Increases 5 Year Running	-27.38%	-21.00%	-8.00%	17.19%	20.71%	23.46%	21.32%	17.21%	13.53%	11.25%	12.03%	13.18%	11.96%	11.98%	10.73%	7.21%		15.36%	<-Median->	10	Average Incr 5 Year Running		CDN$
Dividends 5 Yr Running	$0.31	$0.16	$0.06	$0.10	$0.14	$0.17	$0.20	$0.23	$0.26	$0.29	$0.32	$0.37	$0.41	$0.46	$0.50	$0.54		553.97%	<-Total Growth	10	Dividends 5 Yr Running		CDN$
Yield H/L Price	2.68%	2.20%	1.87%	1.56%	1.33%	1.30%	1.36%	1.90%	2.24%	1.94%	1.09%	1.66%	1.73%	1.51%				1.61%	<-Median->	10	Yield H/L Price		CDN$
Yield on High  Price	2.29%	1.79%	1.48%	1.38%	1.08%	1.16%	1.18%	1.41%	1.91%	1.25%	0.82%	1.37%	1.45%	1.28%				1.31%	<-Median->	10	Yield on High  Price		CDN$
Yield on Low Price	3.23%	2.87%	2.55%	1.80%	1.71%	1.48%	1.61%	2.92%	2.71%	4.28%	1.61%	2.10%	2.15%	1.82%				1.95%	<-Median->	10	Yield on Low Price		CDN$
Yield on Close Price	2.29%	1.94%	1.39%	1.48%	1.09%	1.27%	1.29%	2.74%	1.96%	1.34%	0.91%	1.69%	1.63%	1.37%	1.37%	1.37%		1.41%	<-Median->	10	Yield on Close Price		CDN$
Payout Ratio EPS	20.51%	26.32%	17.09%	20.24%	16.67%	18.20%	18.71%	19.97%	23.19%	19.32%	6.61%	6.48%	24.73%	16.64%	13.29%	10.52%		19.01%	<-Median->	10	DPR EPS		CDN$
DPR EPS 5 Yr Running	-569.41%	-80.41%	13.46%	19.64%	19.03%	18.67%	18.14%	18.72%	19.45%	19.88%	13.40%	10.16%	11.02%	11.12%	10.89%	11.96%		18.69%	<-Median->	10	DPR EPS 5 Yr Running		CDN$
Payout Ratio CFPS	50.73%	-47.23%	49.48%	22.73%	16.16%	33.11%	31.11%	154.78%	7.36%	8.82%	-11.43%	3.82%	3.70%	10.50%	8.04%	#DIV/0!		12.49%	<-Median->	10	DPR CF		CDN$
DPR CF 5 Yr Running	54.77%	53.78%	52.50%	62.25%	31.07%	30.45%	26.25%	31.21%	17.88%	14.57%	28.24%	10.52%	6.58%	7.12%	7.12%	#DIV/0!		27.24%	<-Median->	10	DPR CF 5 Yr Running		CDN$
Payout Ratio CFPS WC	20.79%	12.91%	10.28%	10.76%	9.29%	10.87%	9.49%	11.62%	8.78%	7.53%	3.91%	3.02%	5.22%	10.50%	8.04%	#DIV/0!		9.04%	<-Median->	10	DPR CF WC		CDN$
DPR CF WC 5 Yr Running	80.84%	46.28%	11.67%	11.33%	11.04%	10.52%	10.05%	10.38%	9.89%	9.29%	6.83%	4.99%	4.66%	5.01%	5.21%	#DIV/0!		9.97%	<-Median->	10	DPR CF WC 5 Yr Running		CDN$
Median Values	10 Yr Med	10 Yr Cl	1.61%	1.41%	5 Yr Med	5 Yr Cl	1.73%	1.63%	5 Yr Med	Payout	19.32%	3.82%	5.22%					11.82%	<-IRR #YR->	5	Dividends	74.79%	CDN$
* Dividends per share	10 Yr Med	and Cur.	-15.11%	-3.03%	5 Yr Med	and Cur.	-21.20%	-15.99%	Last Div Inc --->		$0.130	$0.140	7.69%					14.44%	<-IRR #YR->	10	Dividends	285.19%	CDN$
Dividends Growth 15			-3.69%															-0.95%	<-IRR #YR->	15	Dividends	-13.33%	CDN$
Dividends Growth 20																		-1.76%	<-IRR #YR->	19	Dividends	#DIV/0!	CDN$
Dividends Growth 5								-$0.30	$0.00	$0.00	$0.00	$0.00	$0.52								Dividends Growth 5
Dividends Growth 10			-$0.14	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.52								Dividends Growth 10
Dividends Growth 15	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.52								Dividends Growth 15
Dividends Growth 20	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.52								Dividends Growth 20
Historical Dividends	Historical	High Div	19.03%	Low Div	0.08%	10 Yr High	4.14%	10 Yr Low	0.85%	Med Div	1.88%	Close Div	1.66%								Historical Dividends		CDN$
High/Ave/Median Values	Curr diff	Exp.	-92.82%	Cheap	1608.15%	Exp.	-66.99%		60.77%	Exp.	-27.31%	Exp.	-17.69%								High/Ave/Median		CDN$
											-17.53%
Future Dividend Yield					Div Yield	2.39%	earning in	5	Years	at IRR of	11.82%	Div Inc.	74.79%								Future Dividend Yield		CDN$
Future Dividend Yield					Div Yield	4.17%	earning in	10	Years	at IRR of	11.82%	Div Inc.	205.52%								Future Dividend Yield		CDN$
Future Dividend Yield					Div Yield	7.30%	earning in	15	Years	at IRR of	11.82%	Div Inc.	434.01%								Future Dividend Yield		CDN$
Future Dividend Paid					Div Paid	$0.98	earning in	5	Years	at IRR of	11.82%	Div Inc.	74.79%								Future Dividend Paid		CDN$
Future Dividend Paid					Div Paid	$1.71	earning in	10	Years	at IRR of	11.82%	Div Inc.	205.52%								Future Dividend Paid		CDN$
Future Dividend Paid					Div Paid	$2.99	earning in	15	Years	at IRR of	11.82%	Div Inc.	434.01%								Future Dividend Paid		CDN$
Dividend Covering Cost					Total Div	$3.54	over	5	Years	at IRR of	11.82%	Div Cov.	8.65%								Dividend Covering Cost		CDN$
Dividend Covering Cost					Total Div	$8.76	over	10	Years	at IRR of	11.82%	Div Cov.	21.38%								Dividend Covering Cost		CDN$
Dividend Covering Cost					Total Div	$17.88	over	15	Years	at IRR of	11.82%	Div Cov.	43.63%								Dividend Covering Cost		CDN$
Yield if held 5 years	1.34%	1.66%	4.02%	11.45%	10.23%	7.62%	5.72%	4.12%	2.94%	2.26%	2.29%	2.52%	3.32%	3.93%	3.19%	1.53%		3.72%	<-Median->	10	Paid Median Price		CDN$
Yield if held 10 years				1.56%	2.07%	3.80%	4.31%	8.85%	21.55%	17.39%	13.40%	10.56%	7.20%	5.15%	3.72%	3.20%		8.03%	<-Median->	10	Paid Median Price		CDN$
Yield if held 15 years									2.94%	3.51%	6.68%	7.95%	15.48%	37.71%	28.64%	18.76%		6.68%	<-Median->	5	Paid Median Price		CDN$
Yield if held 20 years														5.14%	5.79%	9.35%		#NUM!	<-Median->	0	Paid Median Price		CDN$
Yield if held 25 years																#DIV/0!		#NUM!	<-Median->	0	Paid Median Price		CDN$
Cost covered if held 5 years	25.67%	12.92%	9.38%	32.66%	35.04%	27.89%	21.84%	15.99%	12.01%	9.59%	9.25%	9.64%	13.13%	16.12%	14.35%	7.30%		14.56%	<-Median->	10	Paid Median Price		CDN$
Cost covered if held 10 years				36.21%	31.66%	39.56%	29.37%	43.75%	120.54%	108.95%	82.08%	62.27%	44.50%	33.16%	26.32%	24.59%		44.12%	<-Median->	10	Paid Median Price		CDN$
Cost covered if held 15 years									48.19%	46.59%	66.57%	59.82%	105.06%	275.42%	237.85%	171.86%		59.82%	<-Median->	5	Paid Median Price		CDN$
Cost covered if held 20 years														69.31%	72.64%	111.31%		#NUM!	<-Median->	0	Paid Median Price		CDN$
Cost covered if held 25 years																#DIV/0!		#NUM!	<-Median->	0	Paid Median Price		CDN$
I am earning GC					Div Gr	64.71%	2-Jun-20	# yrs ->	4	2020	$14.85	Cap Gain	175.96%								I am earning GC
I am earning Div					org yield	2.29%	12/31/24	Trading	Div G Yrly	11.50%	Div start	$0.34	-2.29%	3.77%							I am earning Div
																				Yr	Item	Tot. Growth	Per Year
Revenue Growth US$								$831.5	$902.3	$978.1	$1,616.2	$2,579.6	$2,239.3	$2,195	<-12 mths	-2.00%		169.33%	<-Total Growth
AEPS Growth								$1.17	$1.15	$1.62	$5.17	$5.68	$2.40	$2.51	<-12 mths	4.58%		105.92%	<-Total Growth
Net Income Growth								$23.6	$22.8	$29.5	$103.1	$128.7	$36.0	$37	<-12 mths	2.98%		52.92%	<-Total Growth
Cash Flow Growth								$3.0	$71.5	$64.3	-$65.4	$210.7	$238.1	$174	<-12 mths	-26.77%		7745.11%	<-Total Growth
Dividend Growth CDN$								$0.30	$0.32	$0.34	$0.40	$0.48	$0.52	$0.56	<-12 mths	7.69%		74.79%	<-Total Growth
Stock Price Growth								$7.37	$12.73	$20.12	$35.02	$20.39	$24.30	$28.96	<-12 mths	19.17%		229.76%	<-Total Growth
Revenue Growth US$			$349.0	$392.8	$412.8	$587.9	$826.7	$831.5	$902.3	$978.1	$1,616.2	$2,579.6	$2,239.3	$2,199	<-this year	-1.80%		541.61%	<-Total Growth
AEPS Growth			$0.74	$0.72	$0.87	$0.99	$1.16	$1.17	$1.15	$1.62	$5.17	$5.68	$2.40	$3.01	<-this year	25.42%		223.12%	<-Total Growth
Net Income Growth			$12.3	$12.1	$14.5	$17.8	$23.9	$23.6	$22.8	$29.5	$103.1	$128.7	$36.0	$53	<-this year	46.75%		193.42%	<-Total Growth
Cash Flow Growth			$4.2	$10.7	$15.0	$10.9	$14.3	$3.0	$71.5	$64.3	-$65.4	$210.7	$238.1	$87	<-this year	-63.26%		5510.92%	<-Total Growth
Dividend Growth CDN$			$0.14	$0.17	$0.20	$0.23	$0.26	$0.30	$0.32	$0.34	$0.40	$0.48	$0.52	$0.64	<-this year	22.18%		285.19%	<-Total Growth
Stock Price Growth			$8.95	$9.86	$12.89	$13.52	$15.11	$7.37	$12.73	$20.12	$35.02	$20.39	$24.30	$28.96	<-this year	19.17%		171.54%	<-Total Growth
Dividends on Shares				$17.51	$20.60	$23.43	$26.78	$30.64	$32.96	$35.02	$41.20	$49.44	$53.56	$57.68	$57.68	$57.68		$331.15	No of Years	10	Total Divs	12/31/13
Paid			$1,003.22	$1,186.56	$1,881.81	$1,841.64	$2,080.60	$1,117.55	$1,678.90	$2,607.96	$4,504.19	$2,919.02	$3,292.91	$4,220.94	$4,220.94	$4,220.94		$3,292.91	No of Years	10	Worth	$9.74	102.67
Total																		$3,624.06
Graham Number CDN$ AEPS	$6.21	$6.31	$9.57	$10.30	$12.90	$15.36	$17.03	$18.66	$18.51	$22.88	$50.76	$62.18	$40.96	$47.17	$50.58	$0.00		327.88%	<-Total Growth	10	Graham Number AEPS		CDN$
Increase	182.61%	1.67%	51.65%	7.63%	25.16%	19.11%	10.86%	9.57%	-0.80%	23.59%	121.89%	22.51%	-34.13%	15.17%	7.21%	-100.00%		14.99%	<-Median->	10	Graham Price		CDN$
Price/GP Ratio Med	0.48	0.72	0.75	1.06	1.17	1.14	1.12	0.84	0.77	0.77	0.72	0.47	0.73	0.79				0.81	<-Median->	10	Price/GP Ratio Med		CDN$
Price/GP Ratio High	0.56	0.89	0.96	1.19	1.43	1.28	1.29	1.13	0.90	1.19	0.96	0.56	0.87	0.92				1.16	<-Median->	10	Price/GP Ratio High		CDN$
Price/GP Ratio Low	0.40	0.55	0.55	0.92	0.91	1.00	0.95	0.55	0.64	0.35	0.49	0.37	0.59	0.65				0.61	<-Median->	10	Price/GP Ratio Low		CDN$
Price/GP Ratio Close	0.56	0.82	1.02	1.12	1.42	1.16	1.19	0.58	0.88	1.11	0.86	0.46	0.78	0.87	0.81	#DIV/0!		0.99	<-Median->	10	Price/GP Ratio Close		CDN$
Prem/Disc Close	-43.79%	-18.41%	1.75%	11.82%	41.68%	16.41%	18.63%	-41.85%	-11.94%	10.68%	-13.85%	-54.43%	-21.94%	-13.13%	-18.97%	#DIV/0!		-0.63%	<-Median->	10	Graham Price		CDN$
Graham Number CDN$ EPS	$6.26	$6.30	$9.87	$11.10	$15.17	$17.25	$18.67	$21.10	$20.30	$23.86	$54.90	$71.02	$38.34	$49.88	$55.81	$62.73		288.37%	<-Total Growth	10	Graham NumberS		CDN$
Increase	185.78%	0.56%	56.80%	12.41%	36.74%	13.71%	8.23%	12.97%	-3.77%	17.53%	130.09%	29.36%	-46.01%	30.10%	11.89%	12.38%		13.34%	<-Median->	10	Graham Price		CDN$
Price/GP Ratio Med	0.48	0.72	0.73	0.98	0.99	1.01	1.02	0.74	0.70	0.74	0.67	0.41	0.78	0.74				0.76	<-Median->	10	Price/GP Ratio Med		CDN$
Price/GP Ratio High	0.56	0.89	0.93	1.11	1.22	1.14	1.18	1.00	0.82	1.14	0.88	0.49	0.93	0.87				1.06	<-Median->	10	Price/GP Ratio High		CDN$
Price/GP Ratio Low	0.40	0.55	0.54	0.85	0.77	0.89	0.87	0.48	0.58	0.33	0.45	0.32	0.63	0.62				0.61	<-Median->	10	Price/GP Ratio Low		CDN$
Price/GP Ratio Close	0.56	0.82	0.99	1.04	1.20	1.04	1.08	0.51	0.80	1.06	0.80	0.40	0.83	0.82	0.73	0.65		0.94	<-Median->	10	Price/GP Ratio Close		CDN$
Prem/Disc Close	-44.26%	-18.20%	-1.34%	3.81%	20.40%	3.63%	8.17%	-48.57%	-19.71%	6.12%	-20.34%	-60.09%	-16.61%	-17.84%	-26.58%	-34.67%		-6.49%	<-Median->	10	Graham Price		CDN$
Month, Year CDN$	Dec-11	Dec-12	Dec-13	Dec-14	Dec-15	Dec-16	Dec-17	Dec-18	Dec-19	Dec-20	Dec-21	Dec-22	Dec-23	Dec-24	Dec-25	Dec-26		14.00	<Count Years>		Month, Year		CDN$
Price Close	$3.49	$5.15	$9.74	$11.52	$18.27	$17.88	$20.20	$10.85	$16.30	$25.32	$43.73	$28.34	$31.97	$40.98	$40.98	$40.98		228.23%	<-Total Growth	10	Stock Price		CDN$
Increase	49.15%	47.56%	89.13%	18.28%	58.59%	-2.13%	12.98%	-46.29%	50.23%	55.34%	72.71%	-35.19%	12.81%	28.18%	0.00%	0.00%		12.68	<-Median->	10	CAPE (10 Yr P/E)		CDN$
P/E Ratio	8.95	13.55	12.33	13.71	15.23	14.30	14.53	7.28	11.81	14.39	7.23	3.83	15.20	12.18	9.73	7.70		24.13%	<-IRR #YR->	5	Stock Price	194.65%	CDN$
Trailing P/E Ratio	49.86	13.21	25.63	14.58	21.75	14.90	16.16	7.81	10.94	18.35	24.85	4.69	4.32	19.49	12.18	9.73		12.62%	<-IRR #YR->	10	Stock Price	228.23%	CDN$
CAPE (10 Yr P/E)			17.24	18.13	20.19	18.40	20.34	11.92	12.61	12.76	10.83	8.58	9.02	9.27	9.09	8.69		26.57%	<-IRR #YR->	5	Price & Dividend	216.38%	CDN$
Median 10, 5 Yrs		D.  per yr	1.82%	2.45%	% Tot Ret	12.62%	9.21%	T P/E	$14.74	$10.94	P/E:	$14.01	$11.81					14.44%	<-IRR #YR->	10	Price & Dividend	262.63%	CDN$
Price 15		D.  per yr	3.49%		% Tot Ret	11.67%						CAPE Diff	-4.01%					26.42%	<-IRR #YR->	15	Stock Price	3265.26%	CDN$
Price  20		D.  per yr	2.40%		% Tot Ret	30.94%												5.36%	<-IRR #YR->	19	Stock Price	#DIV/0!	CDN$
Price & Dividend 15																		29.91%	<-IRR #YR->	15	Price & Dividend	3700.00%	CDN$
Price & Dividend 20																		7.77%	<-IRR #YR->	19	Price & Dividend	#DIV/0!	CDN$
Price  5								-$10.85	$0.00	$0.00	$0.00	$0.00	$31.97								Price  5
Price 10			-$9.74	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$31.97								Price 10
Price & Dividend 5								-$10.85	$0.32	$0.34	$0.40	$0.48	$32.49								Price & Dividend 5
Price & Dividend 10			-$9.74	$0.17	$0.20	$0.23	$0.26	$0.30	$0.32	$0.34	$0.40	$0.48	$32.49								Price & Dividend 10
Price 15	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$31.97								Price 15
Price  20	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$31.97								Price  20
Price & Dividend 15	$0.08	$0.10	$0.14	$0.17	$0.20	$0.23	$0.26	$0.30	$0.32	$0.34	$0.40	$0.48	$32.49								Price & Dividend 15
Price & Dividend 20	$0.08	$0.10	$0.14	$0.17	$0.20	$0.23	$0.26	$0.30	$0.32	$0.34	$0.40	$0.48	$32.49								Price & Dividend 20
Price H/L Median CDN$	$2.99	$4.55	$7.23	$10.87	$15.07	$17.48	$19.06	$15.69	$14.27	$17.57	$36.70	$29.00	$29.99	$37.16				315.02%	<-Total Growth	10	Stock Price		CDN$
Increase	52.69%	52.26%	58.97%	50.45%	38.59%	16.03%	9.04%	-17.71%	-9.05%	23.13%	108.94%	-20.99%	3.41%	23.93%				15.29%	<-IRR #YR->	10	Stock Price	315.02%	CDN$
P/E Ratio	7.65	11.96	9.15	12.94	12.55	13.98	13.71	10.53	10.34	9.98	6.07	3.91	14.26	11.04				13.84%	<-IRR #YR->	5	Stock Price	91.17%	CDN$
Trailing P/E Ratio	42.64	11.65	19.01	13.76	17.93	14.57	15.25	11.28	9.57	12.73	20.85	4.79	4.05	17.67				18.36%	<-IRR #YR->	10	Price & Dividend	361.38%	CDN$
P/E on Running 5 yr Average	-55.28	-23.43	15.44	22.00	20.92	19.60	17.42	12.71	10.63	12.08	15.21	8.02	8.02	8.98				15.83%	<-IRR #YR->	5	Price & Dividend	106.20%	CDN$
P/E on Running 10 yr Average			23.38	37.23	47.23	41.72	42.36	18.43	15.54	16.16	22.21	12.31	12.06	13.56				10.47	P/E Ratio		Historical Median		CDN$
Median 10, 5 Yrs		D.  per yr	3.07%	1.99%	% Tot Ret	16.71%	12.58%	T P/E	13.24	9.57	P/E:	11.54	9.98						Count	19	Years of data		CDN$
			-$7.23	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$29.99
								-$15.69	$0.00	$0.00	$0.00	$0.00	$29.99
			-$7.23	$0.26	$0.30	$0.32	$0.34	$0.40	$0.48	$0.52	$0.56	$0.56	$30.51
								-$15.69	$0.32	$0.34	$0.40	$0.48	$30.51
High Months CDN$	Dec	Aug	Aug	May	Dec	Aug	Oct	Jan	Dec	Nov	Nov	Nov	Aug	Apr
Price High	$3.49	$5.60	$9.15	$12.28	$18.45	$19.61	$21.95	$21.17	$16.74	$27.18	$48.50	$35.10	$35.82	$43.60				291.48%	<-Total Growth	10	Stock Price		CDN$
Increase	47.88%	60.46%	63.39%	34.21%	50.24%	6.29%	11.93%	-3.55%	-20.93%	62.37%	78.44%	-27.63%	2.05%	21.72%				14.62%	<-IRR #YR->	10	Stock Price	291.48%	CDN$
P/E Ratio	8.95	14.74	11.58	14.62	15.38	15.69	15.79	14.21	12.13	15.44	8.02	4.74	17.03	12.95				11.09%	<-IRR #YR->	5	Stock Price	69.20%	CDN$
Trailing P/E Ratio	49.86	14.36	24.08	15.54	21.96	16.34	17.56	15.23	11.23	19.70	27.56	5.80	4.83	20.73				14.09	P/E Ratio		Historical Median		CDN$
Median 10, 5 Yrs								T P/E	15.94	11.23	P/E:	15.00	12.13					15.77	P/E Ratio		Historical High		CDN$
			-$9.15	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$35.82
								-$21.17	$0.00	$0.00	$0.00	$0.00	$35.82
Low Months CDN$	Aug	Jan	Jan	Jan	Jan	Feb	Jan	Dec	Jan	Mar	Jan	Oct	Apr	Jan
Price Low	$2.48	$3.49	$5.30	$9.46	$11.68	$15.35	$16.17	$10.20	$11.79	$7.95	$24.90	$22.89	$24.15	$30.72				355.66%	<-Total Growth	10	Stock Price		CDN$
Increase	60.00%	40.73%	51.86%	78.49%	23.47%	31.42%	5.34%	-36.92%	15.59%	-32.57%	213.21%	-8.07%	5.50%	27.20%				16.38%	<-IRR #YR->	10	Stock Price	355.66%	CDN$
P/E Ratio	6.36	9.18	6.71	11.26	9.73	12.28	11.63	6.85	8.54	4.52	4.12	3.09	11.48	9.13				18.81%	<-IRR #YR->	5	Stock Price	136.76%	CDN$
Trailing P/E Ratio	35.43	8.95	13.95	11.97	13.90	12.79	12.94	7.34	7.91	5.76	14.15	3.79	3.26	14.61				7.69	P/E Ratio		Historical Median		CDN$
Median 10, 5 Yrs								T P/E	9.94	5.76	P/E:	9.14	4.52					4.20	P/E Ratio		Historical Low		CDN$
			-$5.30	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$24.15
								-$10.20	$0.00	$0.00	$0.00	$0.00	$24.15
Value using exchange rate	$3.43	$5.18	$9.16	$9.93	$13.19	$13.32	$16.10	$7.95	$12.55	$19.89	$34.49	$20.92	$24.17	$29.95	$29.95	$29.95
Month, Year US$	Dec-11	Dec-12	Dec-13	Dec-14	Dec-15	Dec-16	Dec-17	Dec-18	Dec-19	Dec-20	Dec-21	Dec-22	Dec-23	Dec-24	Dec-25	Dec-26		11.00	<Count Years>		Month, Year		US$
Price Close	$3.27	$4.88	$8.95	$9.86	$12.89	$13.52	$15.11	$7.37	$12.73	$20.12	$35.02	$20.39	$24.30	$28.96	$28.96	$28.96		171.54%	<-Total Growth	10	Stock Price		US$
Increase	46.78%	49.20%	83.24%	10.20%	30.75%	4.85%	11.74%	-51.22%	72.80%	58.00%	74.06%	-41.77%	19.16%	19.17%	0.00%	0.00%		9.95	<-Median->	10	CAPE (10 Yr P/E)		US$
P/E Ratio	8.54	12.79	12.05	13.62	14.88	14.52	13.63	6.75	11.98	14.55	7.34	3.73	15.28	11.77	9.40	7.44		26.95%	<-IRR #YR->	5	Stock Price	229.76%	US$
Trailing P/E Ratio	46.51	12.74	23.43	13.28	17.81	15.60	16.23	6.65	11.66	18.94	25.33	4.28	4.44	18.21	11.77	9.40		10.51%	<-IRR #YR->	10	Stock Price	171.54%	US$
CAPE (10 Yr P/E)			15.58	16.50	17.30	15.30	16.35	9.42	9.89	10.00	8.50	6.62	6.89	6.95	6.79	6.44		29.62%	<-IRR #YR->	5	Price & Dividend	3344.31%	US$
Median 10, 5 Yrs		D.  per yr	1.66%	2.66%	% Tot Ret	13.64%	9.00%	T P/E	$14.44	$11.66	P/E:	$13.63	$11.98					12.16%	<-IRR #YR->	10	Price & Dividend	3541.55%	US$
Price 15		D.  per yr	3.76%		% Tot Ret	12.63%						CAPE Diff	18.34%					26.00%	<-IRR #YR->	15	Stock Price	3101.58%	US$
Price  20		D.  per yr	2.56%		% Tot Ret	34.43%												4.87%	<-IRR #YR->	19	Stock Price	#DIV/0!	US$
Price & Dividend 15																		29.76%	<-IRR #YR->	15	Price & Dividend	46729.28%	US$
Price & Dividend 20																		7.43%	<-IRR #YR->	19	Price & Dividend	#DIV/0!	US$
Price  5								-$7.37	$0.00	$0.00	$0.00	$0.00	$24.30								Price  5
Price 10			-$8.95	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$24.30								Price 10
Price & Dividend 5								-$7.37	$0.25	$0.27	$0.32	$0.35	$24.69								Price & Dividend 5
Price & Dividend 10			-$8.95	$0.15	$0.14	$0.17	$0.21	$0.22	$0.25	$0.27	$0.32	$0.35	$24.69								Price & Dividend 10
Price 15	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$24.30								Price 15
Price  20	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$24.30								Price  20
Price & Dividend 15	$0.08	$0.10	$0.13	$0.15	$0.14	$0.17	$0.21	$0.22	$0.25	$0.27	$0.32	$0.35	$24.69								Price & Dividend 15
Price & Dividend 20	$0.08	$0.10	$0.13	$0.15	$0.14	$0.17	$0.21	$0.22	$0.25	$0.27	$0.32	$0.35	$24.69								Price & Dividend 20
Price H/L Median US$	$4.42	$4.52	$7.23	$9.91	$11.52	$12.65	$13.60	$11.65	$10.55	$13.20	$29.27	$27.30	$22.83	$27.56				215.79%	<-Total Growth	10	Stock Price		US$
Increase	136.93%	2.33%	59.77%	37.07%	16.24%	9.81%	7.51%	-14.34%	-9.39%	25.09%	121.74%	-6.73%	-16.39%	20.76%				12.19%	<-IRR #YR->	10	Stock Price	215.79%	US$
P/E Ratio	11.53	11.84	9.73	13.68	13.29	13.58	12.27	10.66	9.93	9.55	6.14	4.99	14.36	11.20				14.41%	<-IRR #YR->	5	Stock Price	95.99%	US$
Trailing P/E Ratio	62.82	11.80	18.92	13.34	15.90	14.59	14.60	10.51	9.66	12.42	21.17	5.72	4.17	17.34				25.02%	<-IRR #YR->	10	Price & Dividend	4388.20%	US$
P/E on Running 5 yr Average	132.02	-41.61	16.01	21.51	18.58	17.34	15.55	12.33	10.43	11.84	15.54	9.91	7.99	8.79				40.60%	<-IRR #YR->	5	Price & Dividend	2066.73%	US$
P/E on Running 10 yr Average			22.99	32.71	37.18	33.16	35.51	16.69	14.33	15.22	22.41	15.04	12.02	13.29				11.53	P/E Ratio		Historical Median		US$
Median 10, 5 Yrs		D.  per yr	12.84%	26.20%	% Tot Ret	51.30%	64.52%	T P/E	12.88	9.66	P/E:	11.47	9.55						Count	14	Years of data		US$
			-$7.23	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$22.83
								-$11.65	$0.00	$0.00	$0.00	$0.00	$22.83
			-$7.23	$0.15	$0.14	$0.17	$0.21	$0.22	$0.25	$0.27	$0.32	$0.35	$61.16
								-$11.65	$0.25	$0.27	$0.32	$0.35	$61.16
High Months US$	May	Aug	Dec	May	Aug	Oct	Oct	Jan	Dec	Dec	Nov	Feb	Jul	Apr
Price High	$3.32	$5.55	$8.95	$11.29	$13.76	$14.38	$17.11	$15.92	$12.73	$20.90	$38.96	$37.91	$27.70	$31.72				209.53%	<-Total Growth	10	Stock Price		US$
Increase	48.73%	67.40%	61.19%	26.13%	21.87%	4.56%	18.96%	-6.94%	-20.05%	64.18%	86.41%	-2.70%	-26.93%	14.51%				11.96%	<-IRR #YR->	10	Stock Price	209.53%	US$
P/E Ratio	8.65	14.54	12.05	15.59	15.87	15.45	15.44	14.58	11.98	15.12	8.17	6.93	17.42	12.89				11.71%	<-IRR #YR->	5	Stock Price	73.96%	US$
Trailing P/E Ratio	47.12	14.48	23.43	15.20	19.00	16.60	18.38	14.37	11.66	19.67	28.18	7.95	5.06	19.95				14.58	P/E Ratio		Historical Median		US$
Median 10, 5 Yrs								T P/E	15.90	11.66	P/E:	15.28	11.98					15.82	P/E Ratio		Historical High		US$
			-$8.95	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$27.70
								-$15.92	$0.00	$0.00	$0.00	$0.00	$27.70
Low Months US$	Sep	Jan	Jan	Nov	Mar	Jan	Mar	Dec	Oct	Mar	Jan	Oct	Mar	Feb
Price Low	$5.53	$3.50	$5.51	$8.53	$9.28	$10.91	$10.08	$7.37	$8.38	$5.50	$19.58	$16.69	$17.95	$23.41				225.95%	<-Total Growth	10	Stock Price		US$
Increase	267.89%	-36.73%	57.52%	54.85%	8.79%	17.60%	-7.59%	-26.91%	13.66%	-34.33%	256.00%	-14.76%	7.55%	30.39%				12.54%	<-IRR #YR->	10	Stock Price	225.95%	US$
P/E Ratio	14.41	9.15	7.41	11.78	10.71	11.72	9.10	6.75	7.88	3.98	4.10	3.05	11.29	9.51				19.49%	<-IRR #YR->	5	Stock Price	143.59%	US$
Trailing P/E Ratio	78.51	9.12	14.42	11.48	12.81	12.59	10.83	6.65	7.67	5.18	14.16	3.50	3.28	14.72				9.10	P/E Ratio		Historical Median		US$
Median 10, 5 Yrs								T P/E	9.25	5.18	P/E:	8.49	4.10					4.00	P/E Ratio		Historical Low		US$
			-$5.51	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$17.95
								-$7.37	$0.00	$0.00	$0.00	$0.00	$17.95
														$163	<-12 mths	-28.15%
Free Cash Flow US$	$1.97	-$4.02	$3.76	$9.48	$13.64	$8.85	$12.47	$16.12	$68.90	$62.09	-$72.88	$199.88	$226.30	$81	$76			5917.32%	<-Total Growth	10	Free Cash Flow		CDN$
Change						-35.12%	40.89%	29.28%	327.28%	-9.88%	-217.38%	374.26%	13.22%	-64.12%	-6.77%			69.61%	<-IRR #YR->	5	Free Cash Flow MS	1303.46%	CDN$
FCF/CF from Op Ratio	0.79	1.15	0.89	0.88	0.91	0.81	0.87	5.31	0.96	0.97	1.11	0.95	0.95	0.93	0.66			#NUM!	<-IRR #YR->	10	Free Cash Flow MS	5917.32%	CDN$
Dividends paid	$1.27	$1.65	$2.08	$2.42	$2.40	$3.24	$4.43	$4.68	$5.28	$5.63	$5.65	$5.29	$5.42	$0.00	$0.00			160.37%	<-Total Growth	10	Dividends paid		CDN$
Percentage paid					17.62%	36.59%	35.53%	29.00%	7.66%	9.06%	-7.75%	2.65%	2.39%	0.00%	0.00%			$0.09	<-Median->	9	Percentage paid		CDN$
5 Year Coverage									16.69%	13.80%	29.60%	9.68%	5.63%	4.43%	3.21%						5 Year Covrage		CDN$
Dividend Coverage Ratio					5.67	2.73	2.81	3.45	13.06	11.03	-12.90	37.78	41.77	0.00	0.00			5.67	<-Median->	9	Dividend Coverage Ratio		CDN$
5 Year of Coverage									5.99	7.24	3.38	10.34	17.76	22.59	31.19						5 Year of Caogerage		CDN$
								-$16	$0	$0	$0	$0	$226
			-$4	$0	$0	$0	$0	$0	$0	$0	$0	$0	$226
														$221	<-12 mths	-28.04%
Free Cash Flow US$ Calc	$1.97	-$4.02	$3.76	$9.48	$13.64	$8.85	$12.47	$16.12	$68.90	$62.09	-$69.11	$194.96	$232.10
Free Cash Flow CDN$ WSJ	$2.00	-$4.00	$4.00	$11.00	$18.89	$11.89	$15.65	$22.00	$89.48	$79.05	-$87.61	$264.05	$306.98	$111.1	$103.6			7574.46%	<-Total Growth	10	Free Cash Flow		CDN$
Change						-37.09%	31.63%	40.58%	306.80%	-11.66%	-210.83%	401.38%	16.26%	-63.82%	-6.77%			69.41%	<-IRR #YR->	5	Free Cash Flow MS	1295.55%	CDN$
FCF/CF from Op Ratio					0.91	0.81	0.87	5.31	0.96	0.97	1.06	0.93	0.97	0.93	0.66			#NUM!	<-IRR #YR->	10	Free Cash Flow MS	7574.46%	CDN$
Dividends paid	$1.29	$1.64	$2.21	$2.81	$3.33	$4.35	$5.56	$6.38	$6.85	$7.17	$7.17	$7.17	$7.17	$12.56	$12.56			223.77%	<-Total Growth	10	Dividends paid		CDN$
Percentage paid					17.62%	36.59%	35.53%	29.00%	7.66%	9.06%	-8.18%	2.71%	2.33%	11.31%	12.13%			$0.09	<-Median->	9	Percentage paid		CDN$
5 Year Coverage									16.76%	13.90%	27.94%	9.46%	5.45%	6.12%	6.68%						5 Year Covrage		CDN$
Dividend Coverage Ratio					5.67	2.73	2.81	3.45	13.06	11.03	-12.23	36.85	42.84	8.84	8.24			5.67	<-Median->	9	Dividend Coverage Ratio		CDN$
5 Year of Coverage									5.97	7.20	3.58	10.57	18.36	16.34	14.97						5 Year of Caogerage		CDN$
								-$22	$0	$0	$0	$0	$307
			-$4	$0	$0	$0	$0	$0	$0	$0	$0	$0	$307
Market Cap in $M US$	$52.7	$80.1	$148.0	$164.2	$216.1	$288.7	$323.6	$158.7	$271.9	$427.4	$829.9	$462.8	$545.1	$649.6	$649.6	$649.6		2.68	<-Total Growth	10	Market Cap	268.26%	US$
Market Cap in $M CDN$	$56.2	$84.4	$161.1	$191.8	$306.2	$381.7	$432.7	$233.7	$348.1	$537.8	$1,036.3	$643.2	$717.1	$919.2	$919.2	$919.2		3.45	<-Total Growth	10	Market Cap	345.15%	CDN$
Diluted # of Shares in Million	15.61	16.42	16.63	16.62	16.78	19.02	21.47	21.58	21.49	21.38	21.60	23.54	22.62	23.83				36.07%	<-Total Growth	10	Diluted		CDN$
Change	8.31%	5.18%	1.28%	-0.01%	0.94%	13.33%	12.91%	0.49%	-0.42%	-0.51%	1.05%	8.96%	-3.89%	5.33%				3.13%	<-IRR #YR->	10	Diluted		CDN$
Difference Diluted/Basic	-2.18%	-1.58%	-1.40%	-0.51%	-0.77%	-0.87%	-0.56%	-0.58%	-0.51%	-0.97%	-0.78%	-0.62%	-1.06%	-0.55%				0.95%	<-IRR #YR->	5	Diluted		CDN$
Change in Diluted Shares per Year																							CDN$
		-16.4	-16.6	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	22.6
								-21.6	0.0	0.0	0.0	0.0	22.6
Basic # of Shares in Millions	15.27	16.16	16.39	16.54	16.65	18.85	21.35	21.45	21.38	21.17	21.44	23.39	22.39	23.70				36.54%	<-Total Growth	10	Basic		CDN$
Change	5.95%	5.82%	1.47%	0.88%	0.68%	13.21%	13.28%	0.47%	-0.35%	-0.97%	1.25%	9.13%	-4.31%	5.87%				0.78%	<-Median->	10	Change		CDN$
Difference	5.42%	1.47%	0.88%	0.68%	0.66%	13.25%	0.31%	0.39%	-0.11%	0.33%	10.55%	-2.99%	0.20%	-5.36%				0.36%	<-Median->	10	Difference		CDN$
														$174.3	<-12 mths	-26.77%
Special Conv Units Class B NCI
Class A Shares
# of Share in Millions	16.095	16.394	16.539	16.651	16.762	21.350	21.420	21.539	21.355	21.242	23.699	22.694	22.431	22.431	22.431	22.431		3.09%	<-IRR #YR->	10	Shares	35.62%	US$
Change	-11.20%	1.86%	0.88%	0.68%	0.66%	27.37%	0.33%	0.56%	-0.85%	-0.53%	11.57%	-4.24%	-1.16%	0.00%	0.00%	0.00%		0.81%	<-IRR #YR->	5	Shares	4.14%	US$
Cash Flow from Operations $M US$	$2.50	-$3.49	$4.24	$10.74	$14.98	$10.93	$14.27	$3.03	$71.45	$64.29	-$65.42	$210.69	$238.08	$87.48	$114.17			5510.92%	<-Total Growth	10	Cash Flow		US$
Increase	172.96%	-239.80%	221.62%	153.02%	39.53%	-27.06%	30.61%	-78.74%	2254.52%	-10.02%	-201.75%	422.06%	13.00%	-63.26%	30.51%			Share Iss	SO, Buybacks		Cl B Shares Conv.		US$
5 year Running Average	$9.3	$4.4	$1.9	$2.1	$5.8	$7.5	$11.0	$10.8	$22.9	$32.8	$17.5	$56.8	$103.8	$107.0	$117.0			5295.85%	<-Total Growth	10	CF 5 Yr Running		US$
CFPS	$0.16	-$0.21	$0.26	$0.64	$0.89	$0.51	$0.67	$0.14	$3.35	$3.03	-$2.76	$9.28	$10.61	$3.90	$5.09			4037.26%	<-Total Growth	10	Cash Flow per Share		US$
Increase	182.17%	-237.25%	220.56%	151.32%	38.61%	-42.73%	30.18%	-78.85%	2274.78%	-9.54%	-191.20%	436.32%	14.33%	-63.26%	30.51%			49.59%	<-Power->	10	Cash Flow	5510.92%	US$
5 year Running Average	$0.52	$0.24	$0.11	$0.13	$0.35	$0.42	$0.59	$0.57	$1.11	$1.54	$0.88	$2.61	$4.70	$4.81	$5.23			139.29%	<-IRR #YR->	5	Cash Flow	7745.11%	US$
P/CF on Med Price	28.51	-21.26	28.17	15.37	12.89	24.71	20.41	82.66	3.15	4.36	-10.60	2.94	2.15	7.07	0.00			45.10%	<-Power->	10	Cash Flow per Share	4037.26%	US$
P/CF on Closing Price	21.11	-22.95	34.88	15.29	14.43	26.42	22.67	52.30	3.81	6.65	-12.69	2.20	2.29	7.43	5.69			137.35%	<-IRR #YR->	5	Cash Flow per Share	7433.31%	US$
															-13.89%	Diff M/C		44.31%	<-IRR #YR->	10	CFPS 5 yr Running	4146.39%	US$
														$171.76	<-12 mths	1.63%
Excl.Working Capital CF US$	$11.00	$11.00	$11.00	$11.00	$11.00	$11.00	$11.00	$11.00	$11.00	$11.00	$256.50	$55.36	-$69.07	$0.00	$0.00			52.42%	<-IRR #YR->	-1	CFPS 5 yr Running	722.76%	US$
Cash Flow from Operations $M WC	$13.50	$7.51	$15.25	$21.74	$25.98	$21.93	$25.28	$14.04	$82.46	$75.30	$191.08	$266.05	$169.01	$87.48	$114.17			1008.45%	<-Total Growth	10	Cash Flow less WC		US$
Increase	78.01%	-44.33%	102.89%	42.59%	19.52%	-15.60%	15.25%	-44.46%	487.37%	-8.68%	153.78%	39.23%	-36.48%	-48.24%	30.51%			30.80%	<-IRR #YR->	10	Cash Flow less WC	1008.45%	US$
5 year Running Average	$20.3	$15.4	$12.9	$13.1	$16.8	$18.5	$22.0	$21.8	$33.9	$43.8	$77.6	$125.8	$156.8	$157.8	$165.6			64.48%	<-IRR #YR->	5	Cash Flow less WC	1103.87%	US$
CFPS Excl. WC	$0.84	$0.46	$0.92	$1.31	$1.55	$1.03	$1.18	$0.65	$3.86	$3.54	$8.06	$11.72	$7.53	$3.90	$5.09			28.34%	<-IRR #YR->	10	CF less WC 5 Yr Run	1112.71%	US$
Increase	100.48%	-45.35%	101.11%	41.63%	18.73%	-33.74%	14.88%	-44.77%	492.42%	-8.20%	127.46%	45.39%	-35.73%	-48.24%	30.51%			48.38%	<-IRR #YR->	5	CF less WC 5 Yr Run	619.37%	US$
5 year Running Average	$1.14	$0.88	$0.76	$0.79	$1.01	$1.05	$1.20	$1.14	$1.65	$2.05	$3.46	$5.57	$6.95	$6.95	$7.26			23.38%	<-IRR #YR->	10	CFPS - Less WC	717.33%	US$
P/CF on Median Price	5.27	9.87	7.84	7.59	7.43	12.31	11.52	17.87	2.73	3.72	3.63	2.33	3.03	7.07	0.00			63.15%	<-IRR #YR->	5	CFPS - Less WC	1056.02%	US$
P/CF on Closing Price	3.90	10.65	9.71	7.55	8.32	13.16	12.80	11.31	3.30	5.68	4.34	1.74	3.23	7.43	5.69			23.38%	<-IRR #YR->	10	CFPS 5 yr Running	815.85%	US$
*Operational Cash Flow.			CF/-WC	P/CF Med	10 yr	8.62	5 yr	2.94	P/CF Med	10 yr	5.58	5 yr	3.03		33.16%	Diff M/C		43.46%	<-IRR #YR->	5	CFPS 5 yr Running	507.67%	US$
														$238.5	<-12 mths	-24.25%
Cash Flow from Operations $M CDN$	$2.5	-$3.5	$4.5	$12.5	$20.7	$14.7	$17.9	$4.1	$92.8	$81.86	-$82.94	$285.35	$314.88	$119.68	$156.20			6877.25%	<-Total Growth	10	Cash Flow		CDN$
Increase	174.60%	-236.76%	230.02%	175.98%	66.55%	-29.27%	22.03%	-76.88%	2141.64%	-11.80%	-201.32%	444.06%	10.35%	-61.99%	30.51%			Share Iss	SO, Buybacks		Cl B Shares Conv.		CDN$
5 year Running Average	$10.0	$5.2	$2.1	$2.5	$7.4	$9.8	$14.1	$14.0	$30.1	$42.3	$22.8	$76.2	$138.4	$143.8	$158.6			6537.50%	<-Total Growth	10	CF 5 Yr Running		CDN$
CFPS	$0.16	-$0.21	$0.27	$0.75	$1.24	$0.69	$0.84	$0.19	$4.35	$3.85	-$3.50	$12.57	$14.04	$5.34	$6.96			5044.73%	<-Total Growth	10	Cash Flow per Share		CDN$
Increase	184.02%	-234.27%	228.88%	174.12%	65.45%	-44.47%	21.63%	-77.00%	2160.93%	-11.32%	-190.81%	459.29%	11.65%	-61.99%	30.51%			#NUM!	<-Power->	10	Cash Flow	6877.25%	CDN$
5 year Running Average	$0.56	$0.29	$0.12	$0.16	$0.44	$0.55	$0.76	$0.74	$1.46	$1.98	$1.15	$3.49	$6.26	$6.46	$7.08			137.81%	<-IRR #YR->	5	Cash Flow	7505.88%	CDN$
P/CF on Med Price	18.93	-21.47	26.48	14.53	12.17	25.44	22.80	81.60	3.28	4.56	-10.49	2.31	2.14	6.96	0.00			48.30%	<-Power->	10	Cash Flow per Share	5044.73%	CDN$
P/CF on Closing Price	22.13	-24.32	35.70	15.40	14.76	26.02	24.17	56.45	3.75	6.57	-12.50	2.25	2.28	7.68	5.88			135.89%	<-IRR #YR->	5	Cash Flow per Share	7203.59%	CDN$
															-8.19%	Diff M/C		48.51%	<-IRR #YR->	10	CFPS 5 yr Running	5118.33%	CDN$
														$234.99	<-12 mths	5.13%							CDN$
Excl.Working Capital CF CDN$	$3.66	$16.17	$17.21	$13.84	$15.33	$30.00	$40.77	$51.02	-$14.98	$14.01	$325.19	$74.98	-$91.36	$0.00	$0.00			53.28%	<-IRR #YR->	5	CFPS 5 yr Running	746.08%	CDN$
Cash Flow from Operations $M WC	$6.19	$12.70	$21.73	$26.30	$36.07	$44.67	$58.67	$55.16	$77.83	$95.87	$242.26	$360.33	$223.53	$119.68	$156.20			928.89%	<-Total Growth	10	Cash Flow less WC		CDN$
Increase	49.22%	104.99%	71.10%	21.05%	37.17%	23.83%	31.34%	-5.99%	41.10%	23.18%	152.70%	48.74%	-37.97%	-46.46%	30.51%			26.25%	<-IRR #YR->	10	Cash Flow less WC	928.89%	CDN$
5 year Running Average	$6.7	$5.7	$8.9	$14.2	$20.6	$28.3	$37.5	$44.2	$54.5	$66.4	$106.0	$166.3	$200.0	$208.3	$220.4			32.30%	<-IRR #YR->	5	Cash Flow less WC	305.26%	CDN$
CFPS Excl. WC	$0.38	$0.77	$1.31	$1.58	$2.15	$2.09	$2.74	$2.56	$3.64	$4.51	$10.22	$15.88	$9.97	$5.34	$6.96			36.44%	<-IRR #YR->	10	CF less WC 5 Yr Run	2135.55%	CDN$
Increase	68.05%	101.25%	69.60%	20.24%	36.27%	-2.78%	30.91%	-6.51%	42.32%	23.84%	126.50%	55.32%	-37.24%	-46.46%	30.51%			35.26%	<-IRR #YR->	5	CF less WC 5 Yr Run	352.66%	CDN$
5 year Running Average	$0.38	$0.34	$0.54	$0.86	$1.24	$1.58	$1.98	$2.22	$2.64	$3.11	$4.74	$7.36	$8.84	$9.18	$9.67			22.46%	<-IRR #YR->	10	CFPS - Less WC	658.66%	CDN$
P/CF on Median Price	7.76	5.87	5.50	6.88	7.00	8.35	6.96	6.13	3.91	3.89	3.59	1.83	3.01	6.96	0.00			31.23%	<-IRR #YR->	5	CFPS - Less WC	289.15%	CDN$
P/CF on Closing Price	9.07	6.65	7.42	7.29	8.49	8.55	7.37	4.24	4.47	5.61	4.28	1.78	3.21	7.68	5.88			32.26%	<-IRR #YR->	10	CFPS 5 yr Running	1538.25%	CDN$
*Operational Cash Flow.			CF/-WC	P/CF Med	10 yr	8.37	5 yr	2.31	P/CF Med	10 yr	5.02	5 yr	3.59		53.01%	Diff M/C		31.79%	<-IRR #YR->	5	CFPS 5 yr Running	297.56%	CDN$
			-16.5	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	22.4								Shares
								-21.5	0.0	0.0	0.0	0.0	22.4								Shares
			-$4.2	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$238.08								Cash Flow		US$
								-$3.0	$0.0	$0.0	$0.0	$0.0	$238.08								Cash Flow		US$
			-$0.26	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$10.61								Cash Flow per Share		US$
								-$0.14	$0.00	$0.00	$0.00	$0.00	$10.61								Cash Flow per Share		US$
			-$0.12	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$4.70								CFPS 5 yr Running		US$
								-$0.57	$0.00	$0.00	$0.00	$0.00	$4.70								CFPS 5 yr Running		US$
			-$15.2	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$223.5								Cash Flow less WC		US$
								-$14.0	$0.0	$0.0	$0.0	$0.0	$169.0								Cash Flow less WC		US$
			-$12.9	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$156.8								CF less WC 5 Yr Run		US$
								-$21.8	$0.0	$0.0	$0.0	$0.0	$156.8								CF less WC 5 Yr Run		US$
			-$0.92	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$7.53								CFPS - Less WC		US$
								-$0.65	$0.00	$0.00	$0.00	$0.00	$7.53								CFPS - Less WC		US$
			-$0.76	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$6.95								CFPS 5 yr Running		US$
								-$1.14	$0.00	$0.00	$0.00	$0.00	$6.95								CFPS 5 yr Running		US$
			-$4.5	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$314.88								Cash Flow		US$
								-$4.1	$0.0	$0.0	$0.0	$0.0	$314.88								Cash Flow		CDN$
			-$0.27	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$14.04								Cash Flow per Share		CDN$
								-$0.19	$0.00	$0.00	$0.00	$0.00	$14.04								Cash Flow per Share		CDN$
			-$0.12	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$6.26								CFPS 5 yr Running		CDN$
								-$0.74	$0.00	$0.00	$0.00	$0.00	$6.26								CFPS 5 yr Running		CDN$
			-$21.7	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$223.5								Cash Flow less WC		CDN$
								-$55.2	$0.0	$0.0	$0.0	$0.0	$223.5								Cash Flow less WC		CDN$
			-$8.9	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$200.0								CF less WC 5 Yr Run		CDN$
								-$44.2	$0.0	$0.0	$0.0	$0.0	$200.0								CF less WC 5 Yr Run		CDN$
			-$1.31	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$9.97								CFPS - Less WC		CDN$
								-$2.56	$0.00	$0.00	$0.00	$0.00	$9.97								CFPS - Less WC		CDN$
			-$0.54	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.84								CFPS 5 yr Running		CDN$
								-$2.22	$0.00	$0.00	$0.00	$0.00	$8.84								CFPS 5 yr Running		CDN$
Interest received	$0.49	$0.40	$0.36	$0.39	$0.421	$0.358	$0.451	$0.513	$0.626	$0.459	$0.540	$0.805	$0.625
Interest paid	-$0.64	-$0.85	-$1.12	-$1.30	-$1.333	-$1.651	-$2.736	-$3.938	-$4.293	-$3.347	-$6.628	-$30.838	-$42.664
Income taxes paid	-$0.14	-$1.19	-$5.20	-$5.70	-$8.374	-$14.535	-$14.292	-$7.396	-$7.299	-$9.471	-$22.415	-$53.362	-$8.775
Income tax refunds received	$1.81
Change in non-cash operating working capital:
Accounts receivable	-$2.24	-$2.91	-$6.20	$3.26	-$2.930	-$0.956	-$6.813	-$5.915	$3.180	$0.287	-$35.439	$15.576	-$0.248
Inventories	-$5.11	-$12.77	-$5.37	-$11.78	-$4.499	-$15.723	-$8.685	-$33.290	$16.107	-$2.308	-$177.341	$6.125	$120.823
Prepaid expenses	-$0.12	-$0.14	-$0.13	-$0.26	$0.039	$0.187	-$2.737	$0.932	-$5.442	-$1.475	-$20.168	$15.583	$0.237
Provisions																					Generally not part of WC
Accounts payable and accrued liabilities	$2.29	$1.28	$0.44	$1.55	$1.346	$2.320	-$5.956	-$1.922	$12.099	$1.845	$4.950	-$9.249	-$0.924
Sum	-$3.66	-$16.17	-$17.21	-$13.84	-$15.33	-$30.00	-$40.77	-$51.02	$14.98	-$14.01	-$256.50	-$55.36	$69.07
Google --> TD 2017			-$17.21	-$13.84	-$15.33	-$30.00	-$41	-$51	$15	-$14	-$257	-$55	$69
Difference			$0.00	$0.00	$0.00	$0.00	$0	$0	$0	$0	$0	$0	$0
OPM Ratio CDN$	1.10%	-1.13%	1.22%	2.73%	3.63%	1.86%	1.73%	0.36%	7.92%	6.57%	-4.05%	8.17%	10.63%	3.98%				774.51%	<-Total Growth	10	OPM		CDN$
Increase	164.11%	-202.77%	207.21%	124.82%	32.78%	-48.78%	-7.12%	-78.86%	2069.62%	-16.99%	-161.58%	301.78%	30.17%	-62.58%					Should increase		or be stable.		CDN$
Diff from Median	-65.3%	-135.6%	-61.8%	-14.1%	14.1%	-41.6%	-45.7%	-88.5%	148.9%	106.6%	-227.2%	156.7%	234.2%	25.1%				0.00	<-Median->	10	OPM		CDN$
*Operational Profit Margin (CF/Revenue) Ratio									OPM	10 Yrs	3.18%	5 Yrs	7.92%					should be	zero, it is a		check on calculations		CDN$
														$188	<-12 mths	1.45%
Adjusted EBITDA CDN$		$12.35	$21.37	$25.48	$34.80	$46.15	$56.31	$78.94	$78.98	$72.73	$195.23	$362.90	$245.00					1047%	<-Total Growth	10	Adjusted EBITDA		CDN$
Adjusted EBITDA US$		$12.41	$20.09	$21.96	$25.13	$34.37	$44.89	$57.86	$60.81	$57.12	$153.99	$267.94	$185.24	$187.8	$200.8	$210.0		822%	<-Total Growth	10	Adjusted EBITDA		US$
Change			61.88%	9.32%	14.44%	36.75%	30.60%	28.91%	5.09%	-6.07%	169.59%	74.00%	-30.86%	1.38%	6.92%	4.58%		22%	<-Median->	10	Change		US$
Margin		4.03%	5.76%	5.59%	6.09%	5.85%	5.43%	6.96%	6.74%	5.84%	9.53%	10.39%	8.27%	8.54%	8.76%	#DIV/0!		6%	<-Median->	10	Margin		US$
Comments US$											Bank Debt	Bank Debt	Bank Debt	Bank Debt							Comments
Long Term Debt	$0.57	$0.57	$0.78	$3.55	$0.50	$0.67	$0.85	$1.48	$64.46	$74.60	$281.25	$351.92	$333.35	$328.81							Bank Debt
Change		-0.41%	36.60%	356.19%	-85.85%	34.10%	26.31%	73.76%	4257.88%	15.73%	276.99%	25.13%	-5.28%	-1.36%				30.20%	<-Median->	10	Change		US$
Debt/Market Cap Ratio		0.01	0.01	0.02	0.00	0.00	0.00	0.01	0.24	0.17	0.34	0.76	0.61	0.51				0.10	<-Median->	10	Debt/Market Cap Ratio		US$
Assets/Current Liabilities Ratio	3.73	3.34	3.49	3.34	4.10	2.59	2.81	2.86	2.82	3.13	3.81	3.30	5.41	4.95				3.21	<-Median->	10	Assets/Current Liabilities Ratio		US$
Debt to Cash Flow (Years)	0.23	-0.16	0.18	0.33	0.03	0.06	0.06	0.49	0.90	1.16	-4.30	1.67	1.40	3.76				0.41	<-Median->	10	Debt to Cash Flow (Years)		US$
Comments CDN$											Bank Debt	Bank Debt	Bank Debt	Bank Debt							Comments
Long Term Debt	$0.58	$0.57	$0.83	$4.12	$0.70	$0.91	$1.07	$2.02	$83.73	$94.99	$356.57	$476.64	$440.88	$449.85							Bank Debt		CDN$
Change		-2.58%	46.03%	397.58%	-83.11%	30.03%	18.01%	88.95%	4048.96%	13.45%	275.39%	33.67%	-7.50%	2.03%				31.85%	<-Median->	10	Change		CDN$
Debt/Market Cap Ratio	0.01	0.01	0.01	0.02	0.00	0.00	0.00	0.01	0.24	0.18	0.34	0.74	0.61	0.49				0.10	<-Median->	10	Debt/Market Cap Ratio		CDN$
Assets/Current Liabilities Ratio	3.73	3.34	3.49	3.34	4.10	2.59	2.81	2.86	2.82	3.13	3.81	3.30	5.41	4.95				3.21	<-Median->	10	Assets/Current Liabilities Ratio		CDN$
Debt to Cash Flow (Years)	0.23	-0.16	0.18	0.33	0.03	0.06	0.06	0.49	0.90	1.16	-4.30	1.67	1.40	3.76				0.41	<-Median->	10	Debt to Cash Flow (Years)		CDN$
Intangibles US$	$0.02	$0.02	$0.01	$0.02	$0.03	$15.00	$13.72	$12.34	$21.75	$19.29	$151.64	$282.00	$260.10	$254.55				2127902%	<-Total Growth	10	Intangibles		US$
Goodwill	$0.00	$0.00	$0.00	$0.00	$0.00	$40.74	$41.19	$41.14	$56.19	$61.33	$114.01	$180.25	$181.13	$181.13				#DIV/0!	<-Total Growth	10	Goodwill		US$
Total	$0.02	$0.02	$0.01	$0.02	$0.03	$55.75	$54.91	$53.47	$77.94	$80.62	$265.65	$462.25	$441.23	$435.68				3609807%	<-Total Growth	10	Total		US$
Change	0.00%	-21.01%	-28.47%	90.42%	11.70%	214330%	-1.50%	-2.62%	45.75%	3.45%	229.51%	74.01%	-4.55%	-1.26%				29%	<-Median->	10	Change		US$
Intangible/Market Cap Ratio	0.00	0.00	0.00	0.00	0.00	0.19	0.17	0.34	0.29	0.19	0.32	1.00	0.81	0.67				24%	<-Median->	10	Intangible/Market Cap Ratio		US$
Intangibles CDN$	$0.02	$0.02	$0.01	$0.03	$0.04	$20.14	$17.22	$16.83	$28.25	$24.56	$192.25	$381.94	$344.01	$348.25				2646097%	<-Total Growth	10	Intangibles		CDN$
Goodwill	$0.00	$0.00	$0.00	$0.00	$0.00	$54.71	$51.67	$56.12	$72.97	$78.09	$144.55	$244.13	$239.56	$247.80				#DIV/0!	<-Total Growth	10	Goodwill		CDN$
Total	$0.02	$0.02	$0.01	$0.03	$0.04	$74.85	$68.89	$72.95	$101.22	$102.65	$336.79	$626.07	$583.57	$596.05				4488865%	<-Total Growth	10	Total		CDN$
Change	0.00%	-22.73%	-23.53%	107.69%	33.33%	207819%	-7.97%	5.90%	38.76%	1.41%	228.11%	85.89%	-6.79%	2.14%				36.05%	<-Median->	10	Change		CDN$
Intangible/Market Cap Ratio	0.00	0.00	0.00	0.00	0.00	0.20	0.16	0.31	0.29	0.19	0.32	0.97	0.81	0.65				0.24	<-Median->	10	Intangible/Market Cap Ratio		CDN$
Current Assets US$	$72.3	$87.4	$99.6	$115.1	$116.9	$195.5	$220.4	$251.2	$267.6	$274.8	$668.7	$759.2	$584.1	$625.7				Liquidity ratio of 1.5 and up, best			Quick Ratio		US$
Current Liabilities	$26.1	$32.9	$34.6	$41.6	$33.5	$106.7	$105.7	$114.0	$155.6	$146.9	$292.4	$433.4	$227.7	$254.8				2.14	<-Median->	10	Ratio		US$
Liquidity Ratio	2.77	2.66	2.88	2.77	3.49	1.83	2.09	2.20	1.72	1.87	2.29	1.75	2.56	2.46				1.87	<-Median->	5	Ratio		US$
Assets US$	$97.4	$109.9	$120.6	$138.6	$137.2	$276.4	$297.3	$326.0	$438.8	$460.2	$1,114.9	$1,429.0	$1,232.1	$1,262.0				Debt Ratio of 1.5 and up, best			Current Ratio		US$
Liabilities	$26.7	$33.5	$35.3	$45.1	$34.0	$108.0	$106.9	$116.4	$220.6	$220.4	$700.9	$922.0	$705.3	$723.3				2.32	<-Median->	10	Ratio		US$
Debt Ratio	3.65	3.28	3.41	3.07	4.04	2.56	2.78	2.80	1.99	2.09	1.59	1.55	1.75	1.74				1.75	<-Median->	5	Ratio		US$
Estimates BVPS														$25.60	$27.30				Estimates		Estimates BVPS
Estimate Book Value														$574.2	$612.4				Estimates		Estimate Book Value
P/B Ratio (Close)														1.13	1.06				Estimates		P/B Ratio (Close)
Difference from 10 year median															-17.78%	Diff M/C			Estimates		Difference from 10 yr med.
Book Value US$	$70.697	$76.402	$85.260	$93.517	$103.231	$168.317	$190.375	$209.597	$218.236	$239.826	$414.032	$506.972	$526.867	$538.714							Book Value		US$
NCI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00							NCI		US$
Book Value	$70.697	$76.402	$85.260	$93.517	$103.231	$168.317	$190.375	$209.597	$218.236	$239.826	$414.032	$506.972	$526.867	$538.714	$538.714	$538.714		517.95%	<-Total Growth	10	Book Value		US$
Book Value per share	$4.39	$4.66	$5.15	$5.62	$6.16	$7.88	$8.89	$9.73	$10.22	$11.29	$17.47	$22.34	$23.49	$24.02	$42.89	#DIV/0!		355.65%	<-Total Growth	10	Book Value per Share		US$
Increase	42.24%	6.10%	10.62%	8.95%	9.66%	28.01%	12.74%	9.49%	5.02%	10.48%	54.74%	27.87%	5.15%	2.25%	78.57%	#DIV/0!		0.75%	P/B Ratio		Current/Historical Median		US$
P/B Ratio (Median)	1.01	0.97	1.40	1.76	1.87	1.60	1.53	1.20	1.03	1.17	1.68	1.22	0.97	1.15				1.20	P/B Ratio		Historical Median		US$
P/B Ratio (Close)	0.75	1.05	1.74	1.76	2.09	1.71	1.70	0.76	1.25	1.78	2.00	0.91	1.03	1.21	0.68	#DIV/0!		16.38%	<-IRR #YR->	10	Book Value per Share	355.65%	US$
Change	3.20%	40.63%	65.65%	1.15%	19.23%	-18.09%	-0.89%	-55.45%	64.55%	43.01%	12.48%	-54.46%	13.33%	16.55%	-44.00%	#DIV/0!		19.27%	<-IRR #YR->	5	Book Value per Share	141.38%	US$
Leverage (A/BK)	1.38	1.44	1.41	1.48	1.33	1.64	1.56	1.56	2.01	1.92	2.69	2.82	2.34	2.34				2.34	<-Median->	5	A/BV		US$
Debt/Equity Ratio	0.38	0.44	0.41	0.48	0.33	0.64	0.56	0.56	1.01	0.92	1.69	1.82	1.34	1.34				1.34	<-Median->	5	Debt/Eq Ratio		US$
Shareholders' Equity (Assets less Liabilities)									P/BV	10 yr Med	1.38	5 yr Med	1.17		-12.36%	Diff M/C		1.57	Historical		Leverage (A/BK)		US$
			-$5.15	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$23.49
								-$9.73	$0.00	$0.00	$0.00	$0.00	$23.49
Current Assets CDN$	$73.6	$87.0	$106.0	$133.5	$161.8	$262.5	$276.5	$342.7	$347.5	$349.9	$847.8	$1,028.3	$772.5	$856.0				Liquidity ratio of 1.5 and up, best			Quick Ratio		CDN$
Current Liabilities	$26.5	$32.8	$36.8	$48.2	$46.4	$143.2	$132.6	$155.6	$202.1	$187.1	$370.8	$587.0	$301.2	$348.6				2.14	<-Median->	10	Ratio		CDN$
Liquidity Ratio	2.77	2.66	2.88	2.77	3.49	1.83	2.09	2.20	1.72	1.87	2.29	1.75	2.56	2.46				1.87	<-Median->	5	Ratio		CDN$
Liq. with CF aft div	2.82	2.53	2.94	2.97	3.87	1.90	2.18	2.19	2.14	2.27	2.23	2.22	3.57	2.76				2.23	<-Median->	5	Ratio	If Div = 0	CDN$
Liq. CF re  Inv+Div	1.86	2.53	2.70	2.19	3.76	0.97	2.03	2.07	1.68	1.93	1.10	1.35	3.37	2.76				1.68	<-Median->	5	Ratio		CDN$
Assets CDN$	$99.0	$109.3	$128.3	$160.8	$190.0	$371.1	$372.9	$444.8	$570.0	$586.0	$1,413.5	$1,935.4	$1,629.6	$1,726.6				Debt Ratio of 1.5 and up, best			Current Ratio		CDN$
Liabilities	$27.1	$33.3	$37.6	$52.3	$47.1	$145.1	$134.1	$158.8	$286.5	$280.6	$888.6	$1,248.8	$932.8	$989.6				2.32	<-Median->	10	Ratio		CDN$
Debt Ratio	3.65	3.28	3.41	3.07	4.04	2.56	2.78	2.80	1.99	2.09	1.59	1.55	1.75	1.74				1.75	<-Median->	5	Ratio		CDN$
Estimates BVPS														$32.30	$35.60				Estimates		Estimates BVPS
Estimate Book Value														$724.5	$798.5				Estimates		Estimate Book Value
P/B Ratio (Close)														1.27	1.15				Estimates		P/B Ratio (Close)
Difference from 10 year median															-11.69%	Diff M/C			Estimates		Difference from 10 yr med.
Book Value CDN$	$71.899	$76.012	$90.683	$108.489	$142.948	$225.999	$238.826	$285.932	$283.445	$305.346	$524.910	$686.643	$696.834	$737.015							Book Value		CDN$
NCI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00							NCI		CDN$
Book Value	$71.899	$76.012	$90.683	$108.489	$142.948	$225.999	$238.826	$285.932	$283.445	$305.346	$524.910	$686.643	$696.834	$737.015	$737.015	$737.015		668.43%	<-Total Growth	10	Book Value		CDN$
Book Value per share	$4.47	$4.64	$5.48	$6.52	$8.53	$10.59	$11.15	$13.28	$13.27	$14.37	$22.15	$30.26	$31.07	$32.86	$32.86	$32.86		466.61%	<-Total Growth	10	Book Value per Share		CDN$
Increase	46.58%	3.79%	18.26%	18.83%	30.89%	24.12%	5.33%	19.06%	-0.02%	8.30%	54.08%	36.60%	2.68%	5.77%	0.00%	0.00%		10.55%	P/B Ratio		Current/Historical Median		CDN$
P/B Ratio (Median)	0.67	0.98	1.32	1.67	1.77	1.65	1.71	1.18	1.07	1.22	1.66	0.96	0.97	1.13				1.13	P/B Ratio		Historical Median		CDN$
P/B Ratio (Close)	0.78	1.11	1.78	1.77	2.14	1.69	1.81	0.82	1.23	1.76	1.97	0.94	1.03	1.25	1.25	1.25		18.94%	<-IRR #YR->	10	Book Value per Share	466.61%	CDN$
Change	1.75%	42.17%	59.93%	-0.47%	21.16%	-21.15%	7.26%	-54.89%	50.26%	43.43%	12.09%	-52.56%	9.87%	21.19%	0.00%	0.00%		18.54%	<-IRR #YR->	5	Book Value per Share	134.02%	CDN$
Leverage (A/BK)	1.38	1.44	1.41	1.48	1.33	1.64	1.56	1.56	2.01	1.92	2.69	2.82	2.34	2.34				2.34	<-Median->	5	A/BV		CDN$
Debt/Equity Ratio	0.38	0.44	0.41	0.48	0.33	0.64	0.56	0.56	1.01	0.92	1.69	1.82	1.34	1.34				1.34	<-Median->	5	Debt/Eq Ratio		CDN$
Shareholders' Equity (Assets less Liabilities)/td>									P/BV	10 yr Med	1.44	5 yr Med	1.07		-13.19%	Diff M/C		1.60	Historical		Leverage (A/BK)		CDN$
			-$5.48	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$31.07
								-$13.28	$0.00	$0.00	$0.00	$0.00	$31.07
														$38.34	<-12 mths	11.22%
Comprehensive Income US$	$6.82	$5.42	$15.44	$17.25	$26.39	$17.52	$12.82	$38.03	$13.29	$24.25	$103.10	$126.65	$34.47					123.25%	<-Total Growth	10	Comprehensive Income		US$
Increase	2247.52%	-20.57%	184.89%	11.74%	52.97%	-33.62%	-26.81%	196.58%	-65.06%	82.56%	325.07%	22.84%	-72.78%					22.84%	<-Median->	5	Comprehensive Income		US$
5 Yr Running Average	-$5.04	-$5.02	$2.87	$8.92	$14.27	$16.40	$17.88	$22.40	$21.61	$21.18	$38.30	$61.06	$60.35					8.36%	<-IRR #YR->	10	Comprehensive Income	123.25%	US$
ROE	9.7%	7.1%	18.1%	18.4%	25.6%	10.4%	6.7%	18.1%	6.1%	10.1%	24.9%	25.0%	6.5%					-1.95%	<-IRR #YR->	5	Comprehensive Income	-9.35%	US$
5Yr Median	-0.6%	-0.6%	7.1%	9.7%	18.1%	18.1%	18.1%	18.1%	10.4%	10.1%	10.1%	18.1%	10.1%					#NUM!	<-Power->	10	5 Yr Running Average	2001.79%	US$
% Difference from Net Income	12.50%	-12.74%	25.68%	42.80%	81.40%	-1.43%	-46.30%	61.31%	-41.67%	-17.87%	-0.05%	-1.57%	-4.38%					21.92%	<-IRR #YR->	5	5 Yr Running Average	169.40%	US$
Median Values										Diff	5, 10 yr	-1.5%	-4.4%					10.1%	<-Median->	5	Return on Equity
			-$15.4	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$34.5
								-$38.0	$0.0	$0.0	$0.0	$0.0	$34.5
			-$2.9	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$60.4
								-$22.4	$0.0	$0.0	$0.0	$0.0	$60.4
Current Liability Coverage Ratio	0.52	0.23	0.44	0.52	0.78	0.21	0.24	0.12	0.53	0.51	0.65	0.61	0.74	0.34							CFO / Current Liabilities		US$
5 year Median	0.94	0.71	0.52	0.52	0.52	0.44	0.44	0.24	0.24	0.24	0.51	0.53	0.61	0.61				0.53	<-Median->	10	Current Liability Cov Ratio		US$
Asset Efficiency Ratio	13.86%	6.84%	12.64%	15.68%	18.94%	7.94%	8.50%	4.31%	18.79%	16.36%	17.14%	18.62%	13.72%	6.93%							CFO / Total Assets		US$
5 year Median	18.13%	13.86%	12.64%	12.64%	13.86%	12.64%	12.64%	8.50%	8.50%	8.50%	16.36%	17.14%	17.14%	16.36%				16.0%	<-Median->	10	Return on Assets		US$
Return on Assets ROA	6.23%	5.65%	10.19%	8.72%	10.60%	6.43%	8.03%	7.23%	5.19%	6.42%	9.25%	9.00%	2.93%	4.19%				Net	Income/Assets		Return on Assets		US$
5Yr Median	0.00%	1.27%	5.65%	6.23%	8.72%	8.72%	8.72%	8.03%	7.23%	6.43%	7.23%	7.23%	6.42%	6.42%				7.6%	<-Median->	10	Asset Efficiency Ratio		US$
Return on Equity ROE	8.58%	8.13%	14.41%	12.92%	14.09%	10.56%	12.54%	11.25%	10.44%	12.31%	24.91%	25.38%	6.84%	9.82%				Net Inc/	Shareholders' equity		Return on Equity		US$
5Yr Median	0.00%	1.71%	8.13%	8.58%	12.92%	12.92%	12.92%	12.54%	11.25%	11.25%	12.31%	12.31%	12.31%	12.31%				12.4%	<-Median->	10	Return on Equity		US$
														$37.12	<-12 mths	2.98%
Net Income US$	$5.96	$6.21	$12.29	$12.08	$14.55	$17.77	$23.88	$23.57	$22.78	$29.53	$103.15	$128.67	$36.05					193.42%	<-Total Growth	10	Net Income		US$
NCI	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00										US$
Net Income	$6.07	$6.21	$12.29	$12.08	$14.55	$17.77	$23.88	$23.57	$22.78	$29.53	$103.15	$128.67	$36.05	$52.9	$65.6			193.42%	<-Total Growth	10	Net Income		US$
Increase	534.41%	2.40%	97.81%	-1.67%	20.43%	22.15%	34.36%	-1.27%	-3.38%	29.67%	249.25%	24.74%	-71.98%	46.75%	24.01%			EPS/CF Ratio should not be higher than 1.00					US$
5 Yr Running Average	-$7.9	-$6.7	$3.1	$7.5	$10.2	$13	$16	$18	$21	$24	$41	$62	$64	$70	$77			11.36%	<-IRR #YR->	10	Net Income	193.42%	US$
Operating Cash Flow	$2.5	-$3.5	$4.2	$10.7	$15.0	$10.9	$14.3	$3.0	$71.5	$64.3	-$65.4	$210.7	$238.1					8.87%	<-IRR #YR->	5	Net Income	52.92%	US$
Investment Cash Flow	-$13.4	$0.3	-$3.1	-$14.8	-$1.0	-$103.4	-$7.9	-$6.5	-$43.0	-$25.7	-$306.6	-$279.5	-$13.5					35.56%	<-Power->	10	5 Yr Running Average	1995.72%	US$
Total Accruals	$17.0	$9.4	$11.2	$16.1	$0.5	$110.2	$17.5	$27.1	-$5.6	-$9.1	$475.2	$197.5	-$188.6					28.37%	<-IRR #YR->	5	5 Yr Running Average	248.57%	US$
Total Assets	$97.4	$109.9	$120.6	$138.6	$137.2	$276.4	$297.3	$326.0	$438.8	$460.2	$1,114.9	$1,429.0	$1,232.1						Balance Sheet		Assets		US$
Accruals Ratio	17.44%	8.55%	9.25%	11.65%	0.40%	39.89%	5.90%	8.30%	-1.28%	-1.97%	42.62%	13.82%	-15.30%					-1.28%	<-Median->	5	Ratio		US$
EPS/CF Ratio (WC)	0.46	0.83	0.81	0.55	0.56	0.91	0.94	1.68	0.28	0.39	0.59	0.47	0.21					0.56	<-Median->	10	EPS/CF Ratio		US$
			-$12.3	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$36.0
								-$23.6	$0.0	$0.0	$0.0	$0.0	$36.0
			-$3.1	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$64.0
								-$18.4	$0.0	$0.0	$0.0	$0.0	$64.0
Financial Cash Flow US$	$11.3	$2.9	-$1.1	$4.0	-$14.0	$93.0	-$6.7	$4.5	-$18.0	-$50.4	$378.9	$128.6	-$286.0						C F Statement		Financial Cash Flow		CDN$
Total Accruals	$5.7	$6.5	$12.3	$12.1	$14.6	$17.2	$24.2	$22.6	$12.3	$41.4	$96.3	$68.8	$97.4								Accruals		CDN$
Accruals Ratio	5.88%	5.92%	10.20%	8.76%	10.61%	6.22%	8.15%	6.92%	2.81%	8.99%	8.64%	4.82%	7.91%					7.91%	<-Median->	5	Ratio		CDN$
					Yes 0
														$52.45	<-12 mths	15.04%
Comprehensive Income CDN$	$6.94	$5.39	$16.42	$20.01	$36.55	$23.52	$16.09	$51.88	$17.26	$30.88	$130.71	$171.53	$45.59					177.62%	<-Total Growth	10	Comprehensive Income		CDN$
Increase	2295.89%	-22.29%	204.56%	21.87%	82.60%	-35.64%	-31.61%	222.52%	-66.74%	78.96%	323.26%	31.23%	-73.42%					31.23%	<-Median->	5	Comprehensive Income		CDN$
5 Yr Running Average	-$6.23	-$6.20	$2.96	$9.69	$17.06	$20.38	$22.52	$29.61	$29.06	$27.92	$49.36	$80.45	$79.19					10.75%	<-IRR #YR->	10	Comprehensive Income	177.62%	CDN$
ROE	9.7%	7.1%	18.1%	18.4%	25.6%	10.4%	6.7%	18.1%	6.1%	10.1%	24.9%	25.0%	6.5%					-2.55%	<-IRR #YR->	5	Comprehensive Income	-12.12%	CDN$
5Yr Median	-0.6%	-0.6%	7.1%	9.7%	18.1%	18.1%	18.1%	18.1%	10.4%	10.1%	10.1%	18.1%	10.1%					38.89%	<-Power->	10	5 Yr Running Average	2571.29%	CDN$
% Difference from Net Income	14.41%	-12.74%	25.68%	42.80%	81.40%	-1.43%	-46.30%	61.31%	-41.67%	-17.87%	-0.05%	-1.57%	-4.38%					21.75%	<-IRR #YR->	5	5 Yr Running Average	167.47%	CDN$
Median Values										Diff	5, 10 yr	-1.5%	-4.4%					10.1%	<-Median->	5	Return on Equity
			-$16.4	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$45.6
								-$51.9	$0.0	$0.0	$0.0	$0.0	$45.6
			-$3.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$79.2
								-$29.6	$0.0	$0.0	$0.0	$0.0	$79.2
Current Liability Coverage Ratio	0.23	0.39	0.59	0.55	0.78	0.31	0.44	0.35	0.39	0.51	0.65	0.61	0.74	0.34							CFO / Current Liabilities		CDN$
5 year Median	0.26	0.26	0.39	0.39	0.55	0.55	0.55	0.44	0.39	0.39	0.44	0.51	0.61	0.61				0.53	<-Median->	10	Current Liability Cov Ratio		CDN$
Asset Efficiency Ratio	6.25%	11.61%	16.94%	16.35%	18.99%	12.04%	15.73%	12.40%	13.65%	16.36%	17.14%	18.62%	13.72%	6.93%							CFO / Total Assets		CDN$
5 year Median	5.54%	5.54%	6.25%	11.61%	16.35%	16.35%	16.35%	15.73%	13.65%	13.65%	15.73%	16.36%	16.36%	16.36%				16.0%	<-Median->	10	Return on Assets		CDN$
Return on Assets ROA	6.12%	5.65%	10.19%	8.72%	10.60%	6.43%	8.03%	7.23%	5.19%	6.42%	9.25%	9.00%	2.93%	4.19%				Net	Income/Assets		Return on Assets		CDN$
5Yr Median	0.00%	1.28%	5.65%	6.12%	8.72%	8.72%	8.72%	8.03%	7.23%	6.43%	7.23%	7.23%	6.42%	6.42%				7.6%	<-Median->	10	Asset Efficiency Ratio		CDN$
Return on Equity ROE	8.44%	8.13%	14.41%	12.92%	14.09%	10.56%	12.54%	11.25%	10.44%	12.31%	24.91%	25.38%	6.84%	9.82%				Net Inc/	Shareholders' equity		Return on Equity		CDN$
5Yr Median	0.00%	1.73%	8.13%	8.44%	12.92%	12.92%	12.92%	12.54%	11.25%	11.25%	12.31%	12.31%	12.31%	12.31%				12.4%	<-Median->	10	Return on Equity		CDN$
														$50.79	<-12 mths	6.52%
Net Income CDN$	$6.07	$6.18	$13.07	$14.02	$20.15	$23.86	$29.95	$32.16	$29.58	$37.60	$130.77	$174.27	$47.68					264.87%	<-Total Growth	10	Net Income		CDN$
NCI	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00										CDN$
Net Income	$6.07	$6.18	$13.07	$14.02	$20.15	$23.86	$29.95	$32.16	$29.58	$37.60	$130.77	$174.27	$47.68	$72.37	$89.75			264.87%	<-Total Growth	10	Net Income		CDN$
Increase	534.41%	1.88%	111.47%	7.25%	43.75%	18.45%	25.53%	7.36%	-8.02%	27.12%	247.77%	33.27%	-72.64%	51.80%	24.01%			EPS/CF Ratio should not be higher than 1.00					CDN$
5 Yr Running Average	-$7.9	-$6.7	$3.2	$8.1	$11.9	$15	$20	$24	$27	$31	$52	$81	$84	$93	$103			13.82%	<-IRR #YR->	10	Net Income	264.87%	CDN$
Operating Cash Flow	$2.5	-$3.5	$4.5	$12.5	$20.7	$14.7	$17.9	$4.1	$92.8	$81.9	-$82.9	$285.4	$314.9					8.19%	<-IRR #YR->	5	Net Income	48.25%	CDN$
Investment Cash Flow	-$13.6	$0.3	-$3.3	-$17.2	-$1.4	-$138.8	-$10.0	-$8.9	-$55.9	-$32.7	-$388.7	-$378.5	-$17.8					#NUM!	<-Power->	10	5 Yr Running Average	2519.92%	CDN$
Total Accruals	$17.2	$9.4	$11.9	$18.7	$0.8	$148.0	$22.0	$36.9	-$7.3	-$11.6	$602.4	$267.4	-$249.4					28.44%	<-IRR #YR->	5	5 Yr Running Average	249.52%	CDN$
Total Assets	$99.0	$109.3	$128.3	$160.8	$190.0	$371.1	$372.9	$444.8	$570.0	$586.0	$1,413.5	$1,935.4	$1,629.6						Balance Sheet		Assets		CDN$
Accruals Ratio	17.33%	8.55%	9.25%	11.65%	0.40%	39.89%	5.90%	8.30%	-1.28%	-1.97%	42.62%	13.82%	-15.30%					-1.28%	<-Median->	5	Ratio		CDN$
EPS/CF Ratio (WC)	1.01	0.49	0.60	0.53	0.56	0.60	0.51	0.58	0.38	0.39	0.59	0.47	0.21					0.52	<-Median->	10	EPS/CF Ratio		CDN$
			-$13.1	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$47.7
								-$32.2	$0.0	$0.0	$0.0	$0.0	$47.7
			-$3.2	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$84.0
								-$24.0	$0.0	$0.0	$0.0	$0.0	$84.0
Change in Close	49.15%	47.56%	89.13%	18.28%	58.59%	-2.13%	12.98%	-46.29%	50.23%	55.34%	72.71%	-35.19%	12.81%	28.18%	0.00%				Count	20	Years of data		CDN$
up/down		down	down	down	down		down	down	down			Down	Down	Up					Count	15	75.00%		CDN$
Meet Prediction?								Yes				Yes						% right	Count	6	40.00%		CDN$
Financial Cash Flow CDN$	$11.5	$2.9	-$1.2	$4.7	-$19.4	$124.9	-$8.4	$6.1	-$23.3	-$64.2	$480.3	$174.2	-$378.3						C F Statement		Financial Cash Flow		CDN$
Total Accruals	$5.7	$6.5	$13.1	$14.1	$20.2	$23.1	$30.4	$30.8	$16.0	$52.7	$122.1	$93.2	$128.9								Accruals		CDN$
Accruals Ratio	5.77%	5.92%	10.20%	8.76%	10.61%	6.22%	8.15%	6.92%	2.81%	8.99%	8.64%	4.82%	7.91%					7.91%	<-Median->	5	Ratio		CDN$
					Yes 0
Cash US$	$0.385	$0.094	$0.073	$0.011	$0.000	$0.570	$0.250	$1.134	$11.640	$0.459	$7.762	$65.068	$3.643	$6.927							Cash		US$
Cash per Share	$0.02	$0.01	$0.00	$0.00	$0.00	$0.03	$0.01	$0.05	$0.55	$0.02	$0.33	$2.87	$0.16	$0.31				$0.33	<-Median->	5	Cash per Share		US$
Percentage of Stock Price	0.73%	0.12%	0.05%	0.01%	0.00%	0.20%	0.08%	0.71%	4.28%	0.11%	0.94%	14.06%	0.67%	1.07%				0.94%	<-Median->	5	% of Stock Price		US$
Cash CDN$	$0.392	$0.094	$0.078	$0.013	$0.000	$0.766	$0.313	$1.547	$15.118	$0.584	$9.841	$88.128	$4.818	$9.477							Cash		CDN$
Cash per Share	$0.02	$0.01	$0.00	$0.00	$0.00	$0.04	$0.01	$0.07	$0.71	$0.03	$0.42	$3.88	$0.21	$0.42				$0.42	<-Median->	5	Cash per Share		CDN$
Percentage of Stock Price	0.70%	0.11%	0.05%	0.01%	0.00%	0.20%	0.07%	0.66%	4.34%	0.11%	0.95%	13.70%	0.67%	1.03%				0.95%	<-Median->	5	% of Stock Price		CDN$
Notes:
May 28, 2024.  Last estimates were for 2023, 2024 of $3108M, $3175M CDN$, $2.16, $2.85 US$ AEPS, $0.58, $0.63 CDN$ Dividend, $187M, $82.2M CDN$ FCF,
$32.30, $35.60 CDN$ CFPS, $64.7M, $91.8M CDN$ Net Income.
May 31, 2023.  Last estimates were for 2022 and 2023 of 3,188M, $3,129NM CDN$ for Revenue, $5.90, $5.92 and $4.75 US$ for AEPS 2022/24, $7.07, $6.79 for EPS CDN$,
$0.49, $0.62 CDN$ for Dividends, $250m $227 and $229 CDN$ 2022/24 for FCF, $170M, $164M CDN$ for Net Income.
December 5, 2022.  Hardwoods Distribution Inc (TSX-HDI, OTC- HDIUF), change their name to Adentra Inc (TSX-ADEN, OTC-HDIUF).  Web site from https://hdidist.com/ to https://adentragroup.com/.
May 30, 2022.  Last estimates were for 2021 and 2022 of $1321M, $1382M for Revenue, $2.74 and $2.87 for EPS,
$0.39 and $0.40 for Dividends, $43.5M and $51M for FCF and $60.1M and $61.3M for Net Income.
May 30, 2021.  Last estimates were for 2020 and 2021 of $1164M, $1219M for Revenue, $0.55, $1.46 and $1.83 for EPS for 2020 to 2022,
$0.35, $0.37 and $0.39 for Dividends for 2020 to 2022, $27.7M and $25.7M for FCF and $11.6 and $31.2 for Net Income.
May 24, 2020.  Last estimates are for 2019 and 2020 of $1191M and $1233M for Revenue, $1.39 and 1.62 for EPS, $1.90 and $1.93 for CFPS and $22.8M and $35M for Net Income.
May 27, 2019.  Last estimates were for 2018, 2019 and 2020 of $1102M, $1146M and $1193M for Revenue, $1.70, $1.89 and $2.07 for EPS,
$1.69, $1.90 and $1.93 for CFPS, and $36.2M and $40.3M for Net Income for 2018 and 2019.
May 20, 2018.  Last estimates were for 2017 and 2018 of $1051M and $1098M for Revenue, $1.64 and $1.66 for EPS, $2.04 and $2.12 for CFPS.
March 14, 2018 the company changed their TSX Symbol from HWD to HDI.
July 11, 2011 changed from Income Fund to Corp.
It aqppears that it went public in March 23, 2004 using Highwoods Rescources TSX symbol but at (TSX-HWD-UN) with an IPO of $10.00 a Share.
On November 29, 2002 , Dynatec Corporation("Dynatec") indirectly acquired Highwood Resources Ltd.
In 1997 there was a Highwood Resources Ltd (TSX-HWD, MASDAQ-HIWDF) company.  It was engaged in the mining, processing and marketing of industrial minerals
and in the development of rare earth and specialty metal properties.  It produced its last annual report in 2001.
Sector:
Materials
What should this stock accomplish?
I would expect the dividends to be low and the growth in dividends to be in the moderate range.
This stock would provide a nice diversification for a portfolio invested in the TSX.
Would I buy this company and Why.
This is a dividend growth small cap.  It will probably do well for shareholders over the longer term.
Why am I following this stock.
In April 2017, I asked for suggestions on what stocks I should now follow because of a number that I had followed had been bought out.  This was one of the suggestions.
I bought the stock in 2020 as Hardwoods Distribution Inc (TSX-HDI, OTC- HDIUF).  In 2022 the company changed its name to Adentra Inc (TSX-ADEN, OTC-HDIUF).
Dividends
Dividends are paid quarterly in Cycle 1 of January, April, July and October.  Dividends are generally declared in one month for shareholders of record of the following month and paid in that month.
For example, the dividends declared on March 11, 2016 was for shareholders of record of April 19, 2016 and paid on April 29, 2016.  January's dividend are often declared a couple of months early.
Misson Statement or closes thing I can find.
What I am looking for is a statement that the company wants to do well by their customers, employees, and community and and thereby earn shareholders a reasonable return.
For customers
For employees
For community
For investors
How they make their money.
Adentra Inc is a distributor of architectural products to fabricators, home centers and professional dealers servicing the new residential, repair and remodel,
and commercial construction end markets. The company operates a network in North America of 86 facilities in the United States and Canada.
Shares; '%, Value $M		Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M			Shares	%, Val $M			Change
Date		Sep 14	2017	May 20	2018	May 27	2019	May 27	2020	May 30	2021	May 30	2022	May 31	2023			May 31	2024
Brown, Robert James		0.075	0.35%	0.105	0.49%	0.131	0.61%	0.141	0.66%	0.164	0.69%	0.242	1.07%	0.294	1.31%			0.311	1.39%			5.58%
CEO - Shares - Amount			$1.519		$1.134		$2.135		$3.560		$7.166		$6.850		$9.407				$12.731
Options - percentage		0.110	0.52%	0.103	0.48%	0.115	0.54%	0.142	0.67%	0.161	0.68%	0.136	0.60%	0.203	0.91%			0.186	0.83%			-8.29%
Options - amount			$2.231		$1.115		$1.868		$3.585		$7.041		$3.842		$6.493				$7.633
Karmally, Faiz Hanif		0.006	0.03%	0.013	0.06%	0.015	0.07%	0.017	0.08%	0.023	0.10%	0.040	0.18%	0.055	0.25%			0.061	0.27%			10.02%
CFO - Shares - Amount			$0.128		$0.141		$0.247		$0.438		$0.997		$1.127		$1.766				$2.490
Options - percentage		0.025	0.12%	0.023	0.11%	0.031	0.15%	0.032	0.15%	0.038	0.16%	0.038	0.17%	0.069	0.31%			0.064	0.28%			-8.02%
Options - amount			$0.509		$0.253		$0.507		$0.806		$1.668		$1.070		$2.208				$2.604
Blanco, Lance Richard		0.098	0.46%	0.111	0.52%	0.101	0.47%	0.104	0.49%	0.095	0.40%	0.108	0.48%	0.108	0.48%			0.106	0.47%			-1.96%
Officer - Shares - Amount			$1.975		$1.209		$1.653		$2.639		$4.144		$3.063		$3.455				$4.342
Options - percentage		0.038	0.18%	0.029	0.13%	0.033	0.15%	0.041	0.19%	0.045	0.19%	0.039	0.17%	0.060	0.27%			0.055	0.25%			-8.16%
Options - amount			$0.765		$0.313		$0.539		$1.038		$1.957		$1.114		$1.925				$2.266
Bull, Peter Morris		4.122	19.24%	4.128	19.16%	4.416	20.68%	4.433	20.87%	4.444	18.75%	4.199	18.50%	4.252	18.96%			4.258	18.98%		Under 10% holder	0.14%
Director - Shares - Amount			$83.265		$44.784		$71.975		$112.244		$194.316		$118.988		$135.930				$174.481
Options - percentage		0.005	0.03%	0.005	0.02%	0.007	0.03%	0.010	0.05%	0.004	0.02%	0.007	0.03%	0.010	0.04%			-0.007	-0.03%			-176.81%
Options - amount			$0.110		$0.052		$0.118		$0.245		$0.165		$0.198		$0.309				-$0.305
Lewis, Michelle										0.013	0.05%	0.015	0.06%	0.016	0.07%			0.018	0.08%			12.16%
Director - Shares - Amount											$0.561		$0.417		$0.523				$0.751
Options - percentage										0.002	0.01%	0.002	0.01%	0.004	0.02%			0.002	0.01%			-37.97%
Options - amount											$0.083		$0.046		$0.126				$0.100
Sauder, E. Lawrence		0.204	0.95%	0.208	0.97%	0.212	0.99%	0.217	1.02%	0.128	0.54%										Reuters says he is chair
Independent Chairman - Shares - Amt			$4.118		$2.257		$3.449		$5.498		$5.585										Site does not mention who is
Options - percentage		0.004	0.02%	0.004	0.02%	0.007	0.03%	0.007	0.03%	0.003	0.01%										Ceased insider Apr 2021
Options - amount			$0.082		$0.039		$0.118		$0.184		$0.150
Wilson, Graham M.												0.050	0.22%	0.053	0.24%			0.056	0.25%			4.62%
Chair - Shares - Amount													$1.429		$1.706				$2.287
Options - percentage												0.003	0.01%	0.015	0.07%			0.003	0.01%			-79.79%
Options - amount													$0.083		$0.480				$0.124
Doman, Amar		1.743	8.14%																		Owns Futura Corp that buys
10% Holder - Shares - Amt			$35.217																		into business.
Options - percentage		0.000	0.00%
Options - amount			$0.000
Increase in O/S Shares		0.059	0.28%	0.069	0.32%	0.119	0.55%	0.087	0.41%	0.108	0.51%	0.130	0.55%	0.240	1.06%			0.158	0.70%
Due to Stock Options			$1.048		$1.402		$1.293		$1.426		$2.743		$4.567		$6.815				$4.486
Book Value			$1.162		$1.406		$2.736		$1.016		$1.452		$1.237		$1.424				$2.362
Insider Buying			$0.000		$0.000		-$0.124		-$80.594		$0.000		-$0.049		$0.000				-$0.117
Insider Selling			$0.327		$0.092		$0.131		$0.000		$3.997		$0.065		$0.000				$0.402		0 is right for 2023
Net Insider Selling			$0.327		$0.092		$0.006		-$80.594		$3.997		$0.016		$0.000				$0.285
Net Selling % of Market Cap			0.08%		0.04%		0.00%		-14.98%		0.39%		0.00%		0.00%				0.04%
Directors		6		6		7		8		8		8		9				9
Women		0	0%	1	17%	1	14%	1	13%	1	13%	1	13%	2	22%			2	22%
Minorities		0	0%	0	0%	0	0%	0	0%	0	0%	0	0%	1	11%			1	11%
Institutions/Holdings		31	0.00%	1	0.01%	2	12.64%			20	31.51%	20	17.94%	20	12.87%			20	11.95%
Total Shares Held		10.770	50.28%	0.003	0.01%	2.724	12.75%			6.704	28.29%	4.273	18.83%	2.876	12.82%			2.680	11.95%
Increase/Decrease 3 Mths		0.000	0.00%	0.000	0.00%	2.237	459.95%			0.369	5.83%	-0.164	-3.69%	-0.080	-2.71%			-0.198	-6.88%
Starting No. of Shares		10.770		0.003	reuters	0.486	reuters			6.334	MS Top 20	4.436	MS Top 20	2.956	MS Top 20			2.878	MS Top 20
Institutions/Holdings
Total Shares Held
Increase/Decrease 3 Mths
Starting No. of Shares
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