Parex Resources Inc T.PXT

Normal Course Issuer Bid Update

[Betteryear2]

As at February 28, 2024, Parex has repurchased approximately 0.5 million shares under its current NCIB at an average price of C$21.88 per share, for a total consideration of roughly C$12 million.

In 2023, Parex repurchased 5.6 million shares, representing approximately 5% of the public float and a return of C$142 million to shareholders.

[SleepingGiant64]

They paused it for 3 weeks at the start of January but at 0.5m, it looks like it ran at the usual 20,000/day rate in Feb, which should be another 5.5m shares this year. That would get the share count under 100 million. I wonder if they switch to paying it all out in fixed/variable dividends after that.