Keim Trading (CHE.UN), Achieves Historic Best Performance While Maintaining Monthly Dividends......"Cash Flow" Appeal Highlighted

Canadian chemical logistics company Chemtrade Logistics Income Fund (CHE.UN) has announced record-breaking performance while maintaining monthly dividends, reaffirming its appeal based on stable “cash flow” investments.

On the 20th local time, Chemtrade announced it will pay a dividend of $0.06 per unit for March 2026, as a “cash dividend.” The ex-dividend date is March 31, and the payment date is April 30. The company stated that non-resident investors will be subject to applicable withholding tax regulations.

Meanwhile, Chemtrade officially submitted its 2025 audited financial statements and Management’s Discussion and Analysis (MD&A). The documents include the Q4 and full-year 2025 results, following an initial release on February 25 and a live webcast on February 26. Related materials and recordings are available on the company’s official website and disclosure system.

Performance shows a clear “growth momentum.” In 2025, Chemtrade achieved an adjusted EBITDA of $507.4 million (approximately 730.6 billion KRW), sales of $1.9978 billion (about 2.8768 trillion KRW), setting a new record. Sales increased by 11.8% year-over-year. After maintenance capital expenditures, distributable cash was $228 million (about 328.3 billion KRW), or $1.99 per unit.

The company’s financial health remains stable. Net debt is $1.2 billion (about 1.728 trillion KRW), with a net debt-to-EBITDA ratio of 2.3x over the past 12 months. This is considered a moderate level within industry averages.

For 2026, the company has provided an adjusted EBITDA guidance of $485 million to $525 million (roughly 698.4 billion to 756 billion KRW), maintaining a cautious outlook. Chemtrade describes this year as a “maintenance-focused” investment cycle, partly reflecting weakness in the chlor-alkali market. However, the company expects recent acquisitions and organic growth to partially offset this impact.

Industry analysts view Chemtrade’s performance as demonstrating a “defensive income structure.” It is believed that long-term contracts within North American chemical logistics infrastructure reduce earnings volatility.

A North American chemical industry analyst commented, “While Chemtrade is a cyclical industry, its high proportion of contract-based sales provides relatively stable dividends.” He further analyzed, “The key investment point for 2026 will be whether it can sustain its ‘cash generation ability,’ rather than growth.”

Ultimately, Chemtrade has maintained both record-breaking performance and dividend sustainability, strengthening its position as a “dividend stock” amid ongoing interest rate and economic uncertainties.