RE:RE:RE:RE:RE:RE:RE:RE:RE:Oil goes up and stock goes down too funnyI tend to agree that a dividend increase is premature and might be detrimental at this point.
Showing the market and investors that CJ has a strong financial position by either paying down some debt and or buying back shares (whichever is more financially prudent) could be the right course of action now.
For whatever reason I hate the 2% buyback tax that is coming in 2024 so I would like to see CJ take advantage of buybacks now before it happens. The market and investment community at large seem to hate debt lately so they might like to see a debt reduction. The problem is I believe debt reduction or elimination will lead to a big share price increase. I know it is a GOOD problem but not if you want to buyback shares cheap and tack on a 2% and it just screams buyback shares now and paydown debt in 2024 (first thing first quarter if possible).
Maybe they could guide for a dividend increase in the second quarter of 2024. Buy back shares now (at a reduced share price with no tax and minus the existing and promised dividend of Q2 2024). Pay down debt in Q1 of 2024 and everyone could be happy.
Of course production will need to be held steady and at some point future reserves are going to need to be added and that isn't free.
GLTA
Coopsvw92 wrote: The last thing CJ needs is a dividend increase. Time to buy back shares.