True North Commercial REIT T.TNT.UN

Buyback

[giovinco]

Anyway the share price needs to improve if they are going to reinstate the dividend as per their strategy. So, if share price stays below $10 or so then they will likely continue buying back at full force.
I think they should just continue the buyback for another year along with tender offer to buy 10% of shares or so then they would have bought back around 30% shares outstanding. i.e. 18% dividend towards buyback = 18% more shares bought back.
When interest rate goes down in a year, they could reinstate the dividend at initial level before the 50% cut. 70% payout x 70% of shares = 49% payout x 2 = 98% payout sustainable under low interest rate environment. Then I'd be happy with the dividend payment for life at that level LOL.

[flamingogold]

We are still in the early innings here and so my expectations are low. I believe TNT will not re-instate at the original payout level. I would rather be wrong and surprised than wrong and disappointed.

[giovinco]

Haha I will say it again and again. The company is not increasing any shareholder value by not paying out the dividend. They are just taking our money and making it theirs because we can also choose to purchase more shares with the dividend. i.e. we get more shares vs. company cancels shares. Shareholder value is maximized when we get more shares other than company cancelling shares. Company

[SIGG1]

glovinso, you have no idea what you are talking about, you don't understand how share structure vs market cap works. Reading your comments was complete loss of my time. 

[giovinco]

What is your nonsense logic? Lol I am a finance major with master's degree from top 10 university in the world. Only the politicians talk like you. Shareholder value is never lost when the money is paid out to shareholders. In fact, companies increase dividends to increase shareholder value and not the opposite. Enterprise value is normally based on market cap and debt level, so buying back

[Bbernard]

What a waste of a education that turned out to be

[SIGG1]

No kidding, either he wasn't paying attention or he wasn't showing up at all for spewing non sense shiit like this 

[flamingogold]

Some of the smartest guys in the world who have led monetary policy for the richest nation have been wrong in the past. I believe your statements are grossly incorrect. We are entitled to our opinions, this is what makes a market. You can sell, I can hold. The future will provide the answer, not our degree.

[BlueJay2020]

Giovinco is entitled to his opinion, and I am entitled to put him in ignore as I've just done.  His posts display a comicallly inept grasp of even the basics of capital markets.  I do wonder, though, how the University of Moose Jaw got so high up the rankings.

[luscar99]

Buybacks at prices under NAV are beneficial to the remaining shareholders. As it increases the NAVPS. That's even more so when there are no stock options, or -in case those exist and do get exercised- the insiders than make substantial buys on the open market. And that's exactly what's happening here. Buybacks under NAV also reduce the cost of capital. That's even more

[HyperCube]

Increasing the dividend does not increase shareholder value per se. Usually, when the dividend is increased, it is because the REIT is making more money and management thinks that money will continue to pour in. It is this increased profit, perceived to be continued over time that increases shareholder value. If a REIT or a company increases the dividend and that dividend is not sustainable, it