RE:RE:Share Buy Backs Have started Found it again. If anyone else is interested.
https://s2.q4cdn.com/668293721/files/doc_financials/2020/ar/Annual-Information-Form-2019.pdf Page 5:
During 2019, the Company repurchased 4,753,517 common shares under its NCIB for $94.3 million. Subsequent to the end of 2019, on January 15, 2020, the Company repurchased for cancellation 4,392,386 common shares at a purchase price of $34.15 per share totaling $150 million under a SIB. In addition, on January 17, 2020, the Company announced that the Toronto Stock Exchange (the “TSX”) approved the renewal of the Company’s NCIB. Under the terms of the NCIB, the Company may purchase up to 5,266,187 of its common shares commencing on January 22, 2020 and terminating no later than January 21, 2021. As at March 23, 2020, the Company had purchased 655,547 of its common shares under the NCIB for $17.0 million.
Like other federally regulated financial institutions, the Company ceased repurchasing shares under the NCIB in mid-March 2020. Reading between the lines: all the regulated banks are safe. They may not be the next 10 bagger. But they will all still be here and doing well 10 years from now.
Cheers
canader wrote: They did,
But they also stopped due to COVID-19. The regulators loosened up the capital requirements on all the regulated banks for insured/ and uninsured loans so that individuals can get access to borrowed money to bridge their lives until the economy sputters to life again. OSFI loosened the capital requirements with the understanding that their would be no near term increase of dividends and share buybacks are put on hold.
So I don't think you will see any more buybacks for a while.
There is a note about it in the annual meeting docs. I read it a couple days back
On the bright side the government and regulators will be backstopping a lot of the funding that is going out over the next while in some form or another.
May you live in interesting times.
Hmmmm, I think it's safe to say,....
We live in interesting times.
This Covid-19. I wouldn't wish it on anyone. Not even Dhorties. I would be lying if I hadn't thought about it though.
Happy long weekend to all
Stay safe, Stay healthy
CanadianKia wrote: It looks like HCG has been buying and cancelling shares. i see transactions from Mid March. anyone else seeing this?