Despite the reduced dividend payout, structurally lower cash flow from operations in the coming years suggests that management’s hands are somewhat tied despite its desire to delever.

Source: https://seekingalpha.com/article/4589160-corus-entertainment-the-bottom-is-yet-to-come?source=feed_all_articles

We continued to delever the business in Q4.

Source: https://seekingalpha.com/article/4583162-brp-group-inc-brp-q4-2022-earnings-call-transcript?source=feed_all_articles

With best-in-class free cash flow characteristics and a balance sheet that continues to delever all while returning significant cash to shareholders, there is much to be excited about in the company's future.

Source: https://seekingalpha.com/article/4580781-element-solutions-inc-esi-q4-2022-earnings-call-transcript?source=feed_all_articles