MEG RTS Has Been TRENDING 37.33/62.67 Versus BASELINE 50/50 RTS: RETURN TO SHAREHOLDERS
- they are PLAYING IT VERY SAFE so an IMPULSE BUYBACK of MEG common shares is BOUND TO OCCUR once the 2024 CAPEX is FULLY FUNDED and the DEBT TARGET is WITHIN STRIKING DISTANCE
From April 1, 2022 through November 24, 2023 the corporation has repurchased and cancelled 35.0 million shares, reducing the outstanding share count by approximately 11% from year end 2021 and returning $715 million to shareholders at a weighted average price of $20.47 per share. Debt repurchases have totaled US $870 million (approximately $1.2 billion) over that same period.
- during the above period, MEG RETURNED ~ C $ 1,915 million to it's shareholders
- due to the HIGH ECONOMIC UNCERTAINTY, MEG has been ABLE to REPURCHASE LOTS of the 2027 7.125% Notes which EXPLAINS the TILT towards the long-term debt REPURCHASES versus the share BUYBACKS plus the MEG share price has been DOING VERY WELL
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