Post by
screamer99 on Apr 12, 2024 2:34pm
Excess cash
This company has a lot of it and has been putting it to use over the last 3 months.
Share purchases under the NCIB totaled $1.8m from Jan to Mar/24. In these three months, there have been more share repurchases than all of FY23 ($1.4m).
At this rate, the NCIB will be exhausted by the end of July but this assumes the share price stays around these levels.
I expect more share repurchases in April and early May until the quarter's results are filed. We'll see what happens after that. But until then, even after taxes, debt repayments, dividends, and whatever they need for capital expenditures, the company has excess cash that they are putting to good use.
Comment by
siwashrock on Apr 14, 2024 2:36pm
I agree. However, they were buying 9800 shares per day for much of February. In March, not that much. Is this a sign they are going to make an acquisition? If the free cash flow is around $40 million per year, they could buy in 40% of outstanding shares with that!