RE:VET earnings report....While the share price is attractive for share buybacks the interest rate environment is not and only forecasted to worsen as the BOC tries to reign in inflation..
I trust VET's excellent mangement team to make the right decisions based on what benifits the company's operations and share holders alike the most. I can only imagine that if they have not reached their debt floor target yet then that is where the lion's share of their cash flow should be distributed as I agree with what others have previously said that the share float is already very low for a company of this size.
However if management feels that the share price is so undervaled that buybacks can not be ignoired I would not be disappointed as I feel they are better equiped to make those decisions. Either way it will accretive for share holders.
These cyclical pullbacks and share price drops will only be reduced as the dividend is increased and starts to yield an amount that is competitive with other investment yields in order to discourage divesting.
The earnings report will be the great equalizer as the market can't ignore the hard numbers and you know they are going to be great. We just have to weather the storm until then.
GLTA Longs
stockmarket1 wrote: Coming up this August. While WTI, Brent etc etc has been trading above $100 for quite some time now. We should hope that VET's debt has been paid down even more since their last report. With that being said, there will be questions arising again like -- dividend increase, more debt should be paid down or a share buy-back scheme. While the shares have tanked as hard as they currently have ( down to $22 from a recent high of $31.50).
Should VET's board begin to think that now may be a great time to buy back shares? Unless, they think the shares will drift into the mid teen's again?? What do all think?