Stelco Holdings Inc T.STLC

A dutch auction for $1 billion share buy back is what you

[drunk@noon]

want.You buy back 25% of your shares your EPS goes up by 33%-- so does intrinsic value of shares. A special div does nothing as if a $5 special div is announced the share price drops by the amount of div once it is paid out. A normal div doesn't help as their are lots of better ways to get %3 div than a cyclical company which can cancell div when market moves the other way.
SHARE BUY BACK WAY TO GO>

[sunshine7]

I strongly agree.

[extremerisk]

Agree that is smart.  Also bedrock sold at $10 below market price last time.  They agreed to price of $35 when shares were trading around $45.  They still have 7.5 million shares.  You can bet they plan to recover that $10 per share loss with the remaining shares they have.  There is no logical reason other than future appreciation of stock price that you would sell $10