Q4 and Full Year 2023 Investor Presentation
2024 Capital Allocation
Priorities
Strong cash flows and significant liquidity to support a balanced approach to
capital allocation, investing in excess of two thirds of Net Income to support
profitable long-term growth and enhancing shareholder value.
Balanced Approach to Capital Allocation
Shareholder Returns
Healthy dividend an important part of total
shareholder return strategy.
2023: 10% increase to monthly dividend
effective March 2023.
2024: 30% increase to monthly dividend
effective March 2024.
Dividends Paid
on Shares
$0.0467
per month,
per share
$30
$25
$20
$15
$28
$10
$21
$21
$23
$5
$-
2021
2022
2023
2024E
M&A
Positioned to execute on the right
M&A opportunities.
Track record as a strong integrator and for
retention of skilled teams.
Focus on margin accretive opportunities, that
add capabilities and generate cash flows.
Four strategic acquisitions in the past
four years.
stuartolson
DAGMAR
CONST
INC.
TRINITY
AJAX - ONT
Capital Expenditures
Reinvest in the business to create value
and support operations and growth.
Investments guided by efficient
asset utilization.
Smart capital investments to support
further productivity and growth.
Capex(1)
$40
NorCan
$30
INFINITY LP
$20
$28
$31
$10
$12
$-
2020
2021
2023
2024
2021
2022
2023
in millions of Canadian Dollars
in millions of Canadian Dollars
(1) Capital expenditures ("Capex") - Refer to the consolidated statement of cash flows - "Additions to property and equipment and intangible assets".
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