Mullen Group Ltd. T.MTL.DB

2024 Business Plan includes NCIB

[Possibleidiot01]

Shareholder Allocation

One of the main components of our 2024 Business Plan is to return cash to shareholders by way of monthly dividends and a share buyback plan. The Board has determined that the appropriate allocation for 2024 will be:

1. Dividends to shareholders will remain consistent at $0.06 per Common Share each month or $0.72 per Common Share on an annualized basis.
2. In March 2024 , we intend on requesting approvals from the Toronto Stock Exchange to renew the normal course issuer bid (" NCIB ") program. For the eleven month period ending November 30, 2023 , we repurchased 4,774,759 Common Shares for $69.9 million under the NCIB.

[undervalue]

The Ncib has been constantly canceling shares. It was just a couple years ago and the share count was over 100 million. Combined with the yield, the return to shareholders every year is close to 1.50 a share. A effective 12% yield plus growth makes Mtl a core holding. The market has it wrong today, stock should be up.

[Niceneasydoesit]

Totally agree. It's been difficult waiting for the market to take notice while we clip that dividend. I'm assuming the market will need to see evidence of an economic  recovery before we get transports going. Bought more on the 2024 outlook ...

[Niceneasydoesit]

I'm also always hoping for it to be acquired. There is evidence of consolidation and acquisition within the vertical