Dividend vs. share buy backHi Jeff,
I understand that some of the proceeds from Sage Ranch will likely be distributed to shareholders via a dividend.
For foreign investors (like myself), a buyback of shares on the open market is much more advantageous (increase in share price, which allows for a potential higher capital gain, with no taxation) while a dividend is more heavily taxed (15% withholding tax in Canada + 30% withholding tax in Belgium). Is a buyback instead of a dividend distribution something you could consider?
Of course, someone who might pay a lot of tax on a dividend could sell the shares shortly before the dividend payment, and buy them back shortly afterwards. But of course that is not without risk (no guarantee of the price at which you can buy the shares back)
Thanks,