Credit Suisse Investment Banking Pitch Book
CREDIT SUISSE DOES NOT PROVIDE ANY TAX ADVICE | MATERIALS ARE PRELIMINARY AND SUBJECT TO FURTHER CHANGE AND DEVELOPMENTS (WHICH MAY BE MATERIAL)
Hypothetical Osprey standalone financial summary sensitivity (cont'd)
FY'17E-FY'20E per Osprey management as of November 2017
Fiscal year ending 12/31
2018E
2019E
($ in millions)
Adjusted distributed cash flow
(1)
Current Osprey management distributed cash flow
(+) Implied incremental dividends (50% payout ratio)
Adjusted distributed cash flow
Current Osprey management distributed cash flow
Implied variance in Osprey distributed cash flow
Source: Osprey management.
Note: Credit Suisse does not provide any tax advice.
ចំ
(2)
2017E
6mo. 17E
$1(2)
$1
2018E
$53
$53
53
Includes share repurchases and ordinary dividends.
Excludes $3.0 million cash used to repurchase shares net of cash proceeds received from exercise of options settled during 7/1/17-10/16/17.
2019E
$3
3
$6
3
$3
2020E
2020E
$3
4
$7
3
$4
Confidential
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