RE:RE:RE:Share buybacks JuneI agree that the low share price is hugely beneficial to all shareholders over the long term.
For the dividend, I would rather see it remain the same dollar amount, just spread over a smaller number of shares. For example, assuming Baytex reduces share count by 10% in a year, then increase div by 10%.
I completely agree with net debt needing to be reduced. I think this will happen in H2 as capex is heavily weighted towards the first half of the year.
Overall, if Baytex ends 2024 with about 6-8% less shares than what they started with, pays a 2% div, reduces net debt by at least 200M, and increased production at least 5-7%. That’s a pretty solid year for any company. The share price will reflect this performance eventually but in the meantime I’m very happy to see them buyback shares and continue to make progress on all 4 of those targets I mentioned.