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What: Shares of Niska Gas Storage
So what: Revenue fell 12% to $57.3 million in the fiscal fourth quarter, falling short of the $63.0 million analysts expected. Earnings were $15.6 million, or $0.22 per share, but also fell below estimates.
Now what: The results weren't terribly impressive this quarter but the company expects to generate adjusted EBITDA in the range of $130 million to $140 million next year, similar to results this year. Cash available for distribution is expected to be between $62 million and $72 million, from $63.7 million this year, meaning the company's high dividend may be safe for now. I'm not buying the jump today because of weakening results, but if the dividend stays where it is, then this is a good dividend play.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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