RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Declares dividendShares buyback at a valued price would creates value to shareholder and help the company to achieve financial stability. (I.e. dividend per share is currently at 0.24 and say in 5 years, it increases to 0.50 cents per share, the shares redemption occurred today at $4 per share is equivalent 6% savings (PER YEAR on the # of shares redeemed since the share redemption) for the company and later a 8% savings (again.. PER YEAR on the # of shares redeemed) on dividend payouts when shares are redeemed as of today. The company can either use these cash savings for Reinvestments or to increase dividend; not to mention with a lower number of outstanding shares, EPS and share price will increase again) the benefit of spending u $50million per year to buy back share actually exceeds the benefit to pay out this nominal 24cents per share of dividend. (Since the share price is low) when long term debt is paid down and business is regaining traction, the company can focus on reinvestment or debt repayment.
Although CORUS did mistakenly /purposely overpay to purchase the asset from Shaw media (and it makes the situation worst when massive dilution occurred due to the massive share issuance to Shawso that they could completely divest in 2019), CORUS seems to be prudent in managing their financial obligations and if the cards are well played, the business and share price can regain traction and financial stability (minimum debt and reducing outstanding share back to halves) can be achieved.