RE:This is why SU is not increasing the dividend yet I fully agree with your analysis. I would also add that the prospect of a massive share buyback, (44 million is only an annual average for Suncor), would send a strong message to the market, which could in itself cause the share price to rise. . Which would be a shame because if dividends are a good use of capital in the event of a high share price, the redemption, close to book value, makes more sense. I will admit that I will be rather disappointed if the company does not take advantage of the low price of its share to create value by announcing a major buyout. Reducing the cost of dividends in the future would pay for this use of cash flow. Suncor was paying $ 2.8 billion in dividends annually, resetting the dividend to $ 1.84 / share with one billion shares outstanding would save one billion per year at a cost of $ 12.5 billion. It would be surprising if Suncor could achieve such a blow but, as you point out, it is necessary to take advantage of the ESG movement to increase the value of the shares and ensure a higher dividend while being less costly for the company. It is not certain that a reinstatement of the dividend would automatically result in a rise in the price. Exxon is almost 6% dividend. The market must be reassured about the solidity of the dividend for the action to be propelled.