RE:RE:RE:RE:RE:RE:RE:RE:RE:CEI?"A stock drops on the ex-date because assets, in the form of cash, are transferred from the company to the owners/shareholders. Money goes from one pocket to another. If your account is taxable, you receive the dividend less taxes." https://www.quantifiedstrategies.com/why-stocks-drop-on-the-ex-dividend-date/#:~:text=A%20stock%20drops%20on%20the,receive%20the%20dividend%20less%20taxes. I know you don't like buybacks and many of us here would have prefered they didn't do buybacks when share prices were high. When the share price was $15 CAD they made sense (of course there wasn't much FCF to do them) now at $20 CAD less so but could be arguably worth it but at these higher interest rates and a low div I am guessing paying down varaible credit debt is probably a better use for the funds but paying down debt does not count as shareholder returns. In fact the entire reason governments have instituted a buyback tax is they feel buybacks is a tax free way of rewarding shareholders.
Because you do not like them does not make them dishonest and if there was any kind of fraud they would see SEC investigations and investors and fund managers would not only call them out but sue them. Are they the best form or share holder return? Again, debabtable and okay lets debate it...but dishonest? Outright lying? Not according to the rules of the game (trading laws).
GLTY and all
mnztr wrote: Stock run up during ex-div and then drop ex-div. Its a natural cycle. They either recover more or drop more depending on the market sentiment of the stock. The fact is, crediting the full NCIB buyback cost as a "return to shareholders" is not honest. Just because they all do it does not make it honest. Divvys are 100% to the shareholder. Another one that is decent that they have used in the pact is discounted drips.