MEG Energy Corp T.MEG

What is MEG doing with its FCF

[alwaysmoving]

MEG should send the market an update on what it's doing with its FCF... I would imagine they'd have the funds or be very close by now to start their next tier of 50% FCF going to shareholders vs debt reduction. It's been a while since we received an update from the board. Cmon MEG, give us some news on what you're doing with the cash!!!

[cashtango00]

they have been buying back debt at a pretty good pace as per the sedar filings.  Unfortunately, they don't sound like they will be paying dividends anytime soon and the market doesn't care about buybacks.  With risk-free money paying 4% now and MEG having no yield in a tough equity market.... it's an uphill battle right now.

[perstrudent]

I agree but think going to have to wait till earnings probably for update. All august they bought barely any  debt, nor any shares barely...nowhere close to what there fcf would have been so cash has to been piling up on balance sheet...Sept they back buying debt decently (not as agressively as July) and will have to wait 2 more weeks to see share buybacks... We should as mentioned reach 50%

[cashtango00]

a quick look at sedar shows they have bought back about 40m in bonds since the beginning of Sept until yesterday.   they were buying stock a while back but haven't seen much lately.  

[alwaysmoving]

I think today is a good time for MEG to start buying back some shares...  To say we're oversold is an understatement.