Dividend value stock with a catalyst? With a 100+ year history, Leon’s is one of Canada’s largest retailers of furniture, appliances and mattresses. The Company acquired one of its main competitors, the Brick, in 2013 and since then has been using free cash flow to repay debt. Profits have been growing modestly and the company currently trades at ~12x earnings with very little debt. It also has a large portfolio of unencumbered real estate. Management has talked about surfacing this value over the past few years, but to date, have not announced anything.

This video takes a look at shares of relatively underfollowed Leon’s Furniture to see if they are an attractive opportunity for investors – includes key considerations as well as bull, base and bear case scenarios.

ps. please note a typo – the P/B is closer to 1.5x (not the 2.0x mentioned in the video).