Pay dayToday we get the div. in our accounts.130 millions.That'sthe equivalent of almost 4.4 millions
shares.
Cant' look back but like most of you, i wish they would have keep these $$$ to buy back more
shares below $32
How much of that 130 millions will be used by existing shareholders to buy more shares is anybody's guess.
What we do know:
1-IFP has increased it's production capacity from 3000 to 3900 mbf (30%)with it's Westrock and GP
acquisitions without issuing one single shares.
2-They gave us $2
3-They are reducing the number of shares.They are very conservative with the price they pay.
They did not buy back any in May because in the 19 first days of the month the SP was over their threshold.Then they entered into a black out perid because of the GP acquisition.My bet is that they are active in June.We will find out on July 10th.
4- They are accelerating their capex with this excess cash.By soo reducing their operating cost.
What we do not know is were will the price of lumber settles.
With all the pent up demand, i am in the camp that we will see very profitable lumber price for
many years to come.
Staying long and will buy more on weakness