SIB - Good timing and good prudent use of capitalGood timing.
This is typically a weak time of year for lumber prices, and forestry product stocks.
Usually stock liquidity is quite low this time of year.
At a minimum, the SIB will keep a floor on the stock price
IFP’s press releases are better than WFG’s I find.
I would highlight the following in their release:
The Company plans to fund repurchases of Shares through available cash on hand.
They had debt of $340mm at the end of Q1 so that means earnings/cash flows for Q2 were pretty good.
Interfor directors and officers do not have a present intention to tender any Shares pursuant to the Offer.
They’re holding out for more gains long term.
I’m holding and adding on drops as well.