"....The attraction of MIC is the value of its businesses. It is estimated that based on competitive EBITDA comparisons to its peers, the current share price reflects no value for the riskier aviation assets. On a per share basis:
"...50% ownership in IMTT bulk storage facilities is worth about $14 a share; The Gas Company is worth about $4.90 a share; 51% ownership in District Energy is worth about $0.66 a share; Future corporate expenses is worth about $(1.61) per share. This totals $18 a share in comparable valuations, with no value given to the Atlantic Aviation business...."
"....In theory, one attraction to infrastructure investments like MIC is their steady cash flow and dividends during “normal” economic times. Shareholders may well see a resumption of cash distribution this time next year...."