RE:RE:RE:RE:Precipice of an epic rallyMoern- you are right on.
Have a look at the press release. If I read it correctly they are saying that they dont like the share price as it does not reflect financials.
1. 50% increae in divident is BS. If the price would have been 1 cent dividend and then they bumped it to 18 cents then they could claim a 1,800% increase. See the stupidity of this line of thought by the seasoned management crowd at CPG?
2. They dont like share price so they will " be using the existing facility in place on the TSX to buy back shares.." or something like that. Why the F*** did they not buy back the shares when it was hovering under $5 dollars? Time to turn the bullshite machine on again and put out more garbage.
3. look at the payout ratio of their dividend to earnings? They will be making almost a billion dollars of net cash and paying out about 10%. When will they learn that a share price is a reflection of the market's belief and confidence in management. Look at a company like Tesla...Its trading where it is because people believe in Musk and the fact that they are making money is a plus but the main driver, in this case, is Musk.
CPG will never move to where it should be trading (based on fundamentals and financials) until and unless they clean house of existing management and start afresh. After all we are all jumping up and down over a 50 cent increase in share price but in reality we are still below the levels of 4 or 5 months ago when the Shell assets were purchased...and why? MANAGEMENT PLAIN AND SIMPLE
To all cheerleaders for these guys have your way with me and my post!