RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:ELFthe absence of the ncib over past 6 months has been perplexing but did have the desired effect of frustrating someone into being the consistent seller. as i said, would be shocked if wasn't the private holdco's accumulating. with liquidity so low now, they simply don't need to pay more if seller wants to hit bids as they have been doing. has been my point all along about liquidity drying up. absent a new fund buying the stock up to a reasonable level, the Jackmans will dictate what the level is.
really have three options: ncib, sib or private holdco buying. seems they like to mix it up for whatever reason.
that said, last time a large div was paid was after 2013 rally. the holdco's, like then, wlll receive the bulk of this dividend. also like then, the holdco's dont like to sit on cash and that is why once discount had widened somewhat by 2015 and 2016, they bought 5% each. this time around the discount is already at preposterous levels so i would anticipate ongoing participation on the bid side by the holdco's. they won't likely "move the stock up" unless are forced to compete with a third party buyer.
the div is certainly positive simply due to the math on the discount but bodes well over next couple years for ongoing holdco accumulation.