As of the previous close, Dexterra Group Inc. (OTCPk: HZNOF) stock rose 10.15% to $6.5200. The HZNOF stock price in the past week has performed at 8.86% versus its monthly performance of 13.99%. HZNOF stock increased even when there were no current headlines, but there is some reason to believe that recent developments may also provide new information about the HZNOF.
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How has HZNOF been recently?
Dexterra Group provides a range of support services for the creation, management, and operation of infrastructure across Canada, employing more than 6,000 people. People are behind HZNOF’s best-in-class regional expertise, delivering innovative solutions that give its clients confidence and assurance as they navigate their business every day. Among HZNOF’s warehousing solutions are affordable workforce accommodations, innovative modular buildings, and other support services for numerous clients in the public and private sectors.
Dexterra Group announced this month that it amended its existing revolving credit facility for an aggregate amount of $200 million on September 7.
- In addition to the $25 million increase, the agreement provided for the increase of $50 million in an uncommitted investment to include, among other things, acquisitions up to $125 million.
- The newly amended credit facility for HZNOF includes a consortium of prominent financial institutions, with a maturity date of September 7, 2024.
- The HZNOF facility was built to grow with the company and offer greater flexibility.
- As a result of recently paying down debt, HZNOF has significantly strengthened its financial position and is now focusing on growth strategies.
- Due to HZNOF’s improved credit standing, the amendment offers more favorable terms.
HZNOF recently released its second quarter 2021 results that ended on June 30, 2021.
Some highlights include:
- According to HZNOF, revenue was $173.6 million and EBITDA was $22.5 million, which was higher than Q1 2021 by 12% and 26%, respectively.
- Despite the business starting to return to more normal activity levels, HZNOF’s EBITDA for Q2 reached $22.5 million.
- In the three months ended June 30, 2021, HZNOF recorded earnings of $8.2 million and earnings per share of $0.13, which were 84% higher than Q1 2021.
- HZNOF’s Generated Free Cash Flow was $14.9 million in Q2 2021 and its debt was reduced from $85.4 million in December 2020 to $71.9 million by June 30, 2021.
- In order to execute on its growth strategy, HZNOF Management has been able to use significant unused credit facilities and a lower than normal level of leverage.
- As of today, NRB Modular Solutions’ Cambridge plant is fully operational; the plant opened on schedule, operating costs were under budget, and future projects are prospect.
HZNOF Dividends:
A dividend of $0.0875 per share has been declared by Dexterra Group (HZNOF) for shareholders of record on September 30, 2021. The dividend is to be paid on October 15, 2021. Over the second half of 2021 and into 2022, the company expects to increase dividends to shareholders.
