Post by
TheWokeLemming on Jun 28, 2023 9:04am
NCIB RENEWED!!
Nice! While the previous NCIB wasn't that utilized, it's great to see management committed to continuing to build shareholder value once oil prices improve. They are maintaining course. Isn't this exactly what Nuttall wanted two years ago? Cardinal is one of the few companies actually doing it!
Comment by
navajojoe on Jun 29, 2023 9:51am
What you don't seem to understand is that dividends remove value from the share price. Buying back shares reduces the number outstanding, making the remaining shares worth more. Putting money into the ground adds value through increased reserves. Same with building infrastructure. Rookie mistake thinking dividends are the best way to add value.
Comment by
navajojoe on Jun 29, 2023 11:00pm
That is a false arguement. No one believed oil and natural gas prices would be where they are today. The buybacks at that time were based on what the facts were, at that time. Criticising now is just 20/20 hindsight.
Comment by
mickeymouse on Jun 30, 2023 12:22am
Exactly my point - no one knows with 100% accuracy what future prices will be for a commodity or future share prices - so why would you gamble that a share buy back will maybe improve your CFPS or your EPS? - reward the shareholders instead of gambling on financial engineering - how is that for a solid argument or is it "arguement"??
Comment by
egee on Jun 30, 2023 8:56am
Although it's difficult to put edwards and co. Into the stupidity catagory.