Canadian Hills and Ridgeline wind projects will replace 100% of asset sales cash flow:
After perusing Atlantic Power news releases and 3rd quarter earning report I've come to the conclusion that the recent assets sales will reduce cash flow by approximately 29.148 million and Canadian Hills Wind and Ridgeline Wind which are now operational will replace 100% of those lost dollars.
Mangement saw this sale coming and prepared to replace lost cash flow with funds from projects coming on stream in late 2012 and early 2013. Not to mention the Orlando project which will add another 14 to 18 million in cash flow in early 2014.
And, let's not forget that the proceeds from those asset sales will pay off the 67 million credit line and leave another 44 million in cash on the balance sheet.
The company has a very high payout ratio but the dividend is as safe as it was before the recent asset sales and I see this as a buying opportunity.