Post by
templetooth2 on Dec 24, 2023 8:05pm
Turning the page
Management's stated goal of creating value through pursuing growth opportunities, buying back stock and running a conservative balance sheet sure sounds good to me. If they can buy 80 million shares over the next 2 years, I'd bet the end result will be a share price with a floor in the $1.50 area rather than 90 cents.
The previous regime tried to run a lilliputian utility in a land of giants. You can see how successful that strategy has been over the last decade. Well past time to try a new strategy. Getting rid of this ridiculous miniscule dividend shows me that this management recognizes that the market doesn't want or need a poor man's Altagas.
At Sept. 30, TWM had 426.2 million shares out, $543.5 million in bank debt and $131 million in term debt. Shareholders equity was $643.6 million. It will be real interesting to see what these numbers are in mid-August.