RE:RE:200K Shares Repurchased / Canceled in February 2024I agree it's worth talking about, Quint.
One thing that often gets overlooked is that buybacks take time to kick in. They're not immediately impactful like a special dividend or a huge dividend increase etc.
But buybacks (especially when purchased at such a huge discount to current NAV) will eventually strengthen per-share metrics in a big way. You would almost think management knew what they were doing (insert sarcastic laugh here).
Cheers and GLTA ARX Bulls.
Quintessential1 wrote: Yes Trapped and for some reason during all the EOY reporting we forgot to trumpet this milestone:
| common shares outstanding | September 30,
2023 | December 31,
2023 |
| Common shares outstanding,
end of period (millions) | 605.0 | 596.9 |
GLTY and ALL ARX BULLS
Trapped wrote: Small number for sure, but I'm good with it. Why? ARX did all the heavy lifting (125+Million Shares):
-In the teens, way below the current price
-Before the new tax on buybacks kicked in
-To me, this shows incredible foresight / discipline
Anything from here is gravy and displays a balanced approach to shareholder returns.
This low buback level strengthens my belief that we'll see a healthy dividiend increase in the near term.
Cheers and GLTA ARX Bulls.